Tiger Brokers admits to breaches of AML/CFT law

Margot Gatland says the FMA takes non-compliance seriously. (Image: FMA)

Wed, 21 Dec 2022

Tiger Brokers (NZ) has admitted to breaches of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT).The Financial Markets Authority (FMA) filed high court proceedings against Tiger Brokers (NZ) for alleged breaches, which the authority confirmed the online share trading platform had admitted to.Therefore, the matter will go to a penalty hearing where both the FMA and Tiger Brokers will jointly submit that the company should be ordered to pay a pecuniary penalty of $900,000. The proceedings came after the FMA issued a f...

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