NZ regulators to start anti-money laundering monitoring from this month

Thu, 20 Jun 2013

By Tina Morrison June 20 (BusinessDesk) – New Zealand regulators will this month start monitoring financial institutions to stamp out money laundering that could be worth up to $1.5 billion. As part of a new anti-money laundering regulatory regime starting June 30, the Reserve Bank, the Department of Internal Affairs and the Financial Markets Authority will start monitoring financial institutions in an attempt to prevent criminals from disguising the illegal origins of their money. “New Zealand cannot afford to be seen as a weak link in the...

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