NZ banking sector still vulnerable to money laundering, terrorism financing, RBNZ says

Fri, 07 Apr 2017

By Rebecca Howard April 7 (BusinessDesk) - New Zealand's banking sector remains vulnerable to potential money laundering and terrorism financing risks, says the Reserve Bank in its latest assessment. "The banking sector continues to have a relatively high potential risk, because money launderers and terrorist financiers are more likely to target financial institutions in that sector, rather than targeting in other sectors," the central bank said in its Sector Risk Assessment, published Friday. Non-bank deposit takers and life insurers fa...

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