New Zealand to Extend Anti-Money Laundering Rules
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Source: BFW (Bloomberg First Word)
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Amy Adams (New Zealand)
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UUID: 7947283
(Bloomberg) -- The Anti-Money Laundering and Countering Financing of Terrorism Amendment Bill introduced to parliament Monday, Justice Minister Amy Adams says in emailed statement.
- Bill extends the existing law to lawyers, conveyancers, accountants, real estate agents, and sports and racing betting
- Businesses that deal in certain high value goods, including motor vehicles, jewelery and art, will also have obligations when they accept or make large cash transactions
- Estimated that the reforms in this Bill could disrupt as much as NZ$1.7b in fraud and drug crime over the next 10 years, and prevent as much as NZ$5b in broader criminal activity
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
People
Amy Adams (New Zealand)
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UUID: 7947283