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  1. Says a lot about the cosy relationship NZ government and regulators like the commerce commission are in NZ, compared to Australia. Don’t worry about money laundering in NZ, we apparently not only want the business, turning a blind eye is right across the spectrum here! I hear the commerce commission is deploying resources apparently investing a little NZ holiday rental booking company over a bad review taken down and some meatless burgers a few months ago, meanwhile in OZ…

    “The stakes were high for banks in mid-2018. Commonwealth Bank of Australia (CBA) had been shredded in the media for failing to prevent crooks laundering money through its smart ATMs, and was just two months away from agreeing to pay A$702 million to settle the case with Australian regulators.

    But the leaked documents show that BNZ was confident it would not be pinged by New Zealand authorities and rated the risk of fines as “minor”, though it worried about the public finding out, and its reputation being damaged.”

    https://www.stuff.co.nz/business/114664719/bnz-struggled-to-abide-by-antimoney-laundering-laws

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