FMA warns on high-risk of crypto money laundering

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
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...

More Markets

Soft tissue repair company Aroa could unlock $1.6b market
Markets

Soft tissue repair company Aroa could unlock $1.6b market

A transformational year is predicted for Aroa with potential for maiden profit.

Pūkaki mega-lake never seriously considered
Markets

Pūkaki mega-lake never seriously considered

Officials' idea for a giant lake would have cost billions and had serious impacts.

NZ sharemarket up 0.1% on flat trading day
Markets Market close

NZ sharemarket up 0.1% on flat trading day

The S&P/NZX 50 Index closed at 11,790.92, up 14.18 points or 0.12%.

Graham Skellern 03 Jul 2024
Advent International eyes NZ deals with Aussie outpost
Markets

Advent International eyes NZ deals with Aussie outpost

US private equity giant says NZ key market for growth.