New Zealand's Justice Minister proposes AML/CFT reforms to ease burden on small businesses.
New Zealand's Associate Justice Minister Nicole McKee supports a BusinessNZ report aimed at easing the compliance burden of Anti-Money Laundering/Countering Financing of Terrorism (AML/CFT) regulations on small businesses. Her upcoming reform program seeks to enhance customer due diligence and provide clearer guidance. Key proposals include creating a single AML/CFT supervisor and expanding exemptions to simplify the application process for small and medium-sized enterprises.
October 29, 2024
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