News

More AML breaches likely

Friday 30th of October 2015

Kiwibank this week received a formal warning from the Reserve Bank for not having fully compliant customer due diligence (CDD) procedures in 2013 and 2014, including requirements for existing customers to top-up their identification details, performing checks for “high risk” customers, verifying the sources of funds for those customers and collecting address information for customers conducting...

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