Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

AML, Asia-Pacific, Banking, Compliance

NZ bank faces court battle with Reserve after repeated failure to deal with AML shortcomings

By Dan Byrne for AMLi

One of the oldest banks in New Zealand is under fire from officials, who are saying that parts of its AML/CFT framework is not up to scratch.

The Reserve Bank of New Zealand (the country’s central bank) today filed statement in the NZ High Court against TSB Bank for breaches of the country’s 2009 laundering legislation.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!