NZ Reserve Bank releases sector-specific money-laundering assessment


The Reserve Bank of New Zealand released a sector risk assessment this week, designed to help registered banks, non-bank deposit-taking institutions and life insurers prepare for the country's Anti-Money Laundering and Countering Financing of Terrorism Act 2009. The Bank will be responsible for supervising compliance with the new legislation, which is expected to come into force fully in 2013.

"The new Act gives supervisors powers so that when it fully comes into force we will be inspecting and

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