New Zealand’s FMA Warns Five Businesses Over Lack of AML and CFT Auditing

[kreslik.news]

The Financial Markets Authority (FMA) of New Zealand has issued formal warnings to 5 separate business entities, as a result of their lack of compliance with the Money Laundering and Countering Financing of Terrorism Act.

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Under section 80 of the AML/CFT Act, each business or entity is required to be audited at least once every 2 years, with respect to their risk assessment and AML/CFT operations. The FMA is handling its responsibilities, with regards to the rigorous task of stopping of money laundering and the financing of terrorism.

The FMA ... (read more)