The dirty money delusion, AML, and ‘following the money’ into a dead end

Forget about kids and their bank accounts, adults need them too. (Image: NZME)

Mon, 21 Jul 2025

The problem with the current anti-money laundering regime isn’t that children can’t open bank accounts; it’s that many adults can’t. Children will eventually get over the fact that they weren’t introduced to the formal banking system while they were still catching Pokémon, but adults who can’t set up bank accounts are in a much more serious situation.Numbers provided by the Reserve Bank of New Zealand (RBNZ) showed the number of NZers estimated not to have a bank account has nearly doubled since 2...

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