6 Jul 2017

Businesses want more time to enact anti-money laundering

From Morning Report, 8:17 am on 6 July 2017

About $1.35 billion of dirty money is estimated to be laundered in New Zealand each year. In a bid to reduce this, real estate agents, lawyers, accountants, conveyancers, and those who deal in high value goods, like jewellers, will join banks, casinos and other financial services in having a greater role in preventing, detecting and and reporting suspicious activity. But there are concerns they aren't up to the task, and even whether the new laws will be effective.