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

Gentrack now one of NZ's most valuable listed companies
Markets

Gentrack now one of NZ's most valuable listed companies

Utilities software provider keeps winning customers and moving up the NZX.

THL buyout offer lifts NZX 50
Markets Market Close

THL buyout offer lifts NZX 50

Tourism Holdings helped the NZX 50 rise 1.09%.

Gregor Thompson 16 Jun 2025
THL exec enlists private equity for takeover bid
Markets

THL exec enlists private equity for takeover bid

In tandem with the offer, the consortium has amassed a 19.99% stake in THL.

Gregor Thompson 16 Jun 2025
Comvita forecasts another annual loss
Markets

Comvita forecasts another annual loss

Forecast losses don't include any impairment which is likely to be significant.

Staff reporters 16 Jun 2025