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FMA slaps Craigs over AML failures

Tuesday 3rd of May 2016
Under the AML/CFT Act reporting entities are required to conduct enhanced due diligence on clients where the level of risk involved is such that this higher standard of customer due diligence should apply.
Craigs admits that it breached the AML/CFT Act in that it failed to conduct adequate enhanced due diligence and/or failed to terminate its business relationship with a client when it h...
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