Kiwibank allowed to close money remitter's accounts in curly policy question

Fri, 03 Jun 2016

By Paul McBeth June 3 (BusinessDesk) - Kiwbank has been cleared to close the accounts of E-Trans International Finance because of the risk posed by the money remitter under anti-money laundering legislation, upping pressure on the government for a policy fix to accommodate foreign workers wanting to send funds home. In the High Court in Auckland, Justice Paul Heath and lay member Professor Martin Richardson upheld Kiwibank's right to close the remitter's accounts and discharged an interim order preventing the bank from doing so, in a jud...

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