Markets

FMA warns on high-risk of crypto money laundering

Dan Brunskill
Tue, 07 Dec 2021

FMA warns on high-risk of crypto money laundering
FMA director of supervision James Greig said it was essential providers understood the risks involved. (Photo: supplied)
Dan Brunskill
Tue, 07 Dec 2021
The Financial Markets Authority has deemed cryptocurrencies and derivatives as high-risk for money laundering and terrorism financing.An update to the regulator’s 2017 sector risk assessment has classed both virtual assets and derivative issuers with the highest possible risk rating.Previously, client money managers such as brokers or custodians were considered the riskiest category with a ‘medium-high’ rating. Activities like peer-to-peer lending and equity crowdfunding were considered a ‘medium-low’ risk.The Fina...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets market close
Positive earnings lift NZ sharemarket
Dan Brunskill | Fri, 20 May 2022

The NZ market was one of the few climbing markets as investors in other parts of the world worried about the risk of a global recession.

Law & Regulation
Unlawful collection of Companies Office fees fixed under urgency
Ian Llewellyn | Fri, 20 May 2022

The Companies Office's administration of fees may have saved costs, but the problem is it was against the law.

Markets FREE
Brian Gaynor: legacy of a towering financial figure
Brenda Ward | Fri, 20 May 2022

At his funeral in Auckland, family, friends and colleagues of Brian Gaynor recalled a passionate man who had the confidence and courage to back his sometimes controversial opinions.

Partner content
What’s driving the ram raids, and what shop owners can do

Scott La Franchie explains the motivations behind the spate of burglaries.

Partner content
Grow your business by taking time to plan

Getting business fundamentals right gives the best chance at beating the unplannable.