RBNZ does not have ‘adequate’ AML/CFT resource – FATF report

RBNZ
Reserve Bank of New Zealand, Wellington
Rachael King

The Reserve Bank of New Zealand lacks adequate resources to carry out anti-money laundering and counter the financing of terrorism (AML/CFT) inspections, the Financial Action Taskforce says.  

In a new report, the FATF also criticised the penalties that the RBNZ can impose for AML/CFT breaches as inadequate.

It said AML/CFT supervision in New Zealand’s financial sector was “broadly” in line with respective risk levels, expect for the banking sector. The banking sector is the most important

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: