FX trader Jin Yuan Finance warned over anti-money laundering controls

Tue, 01 Sep 2015

By Paul McBeth Sept. 2 (BusinessDesk) - Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. The FX trader, whose sole director and shareholder is Auckland-based Rex Young, was warned on July 7 for failing to conduct customer due diligence, adequately monitor accounts and transactions, keep adequate records, have an anti-money laundering programme, or ensure its branches met the legislat...

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