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The Fiducia team's latest views on AML/CFT in New Zealand

Latest News/ 2017-09-18T12:02:57+00:00 September 11th, 2017|

Why KYC Requirements Matter in New Zealand

Fulfilling your nature and purpose KYC requirements is crucial. We know that the qualitative requirements to understand the nature and purpose of your customers proposed a business relationship with you can be harder for large financial institutions like banks.

There are a lot of people to keep track of.

However, it’s essential. This sad tale illustrates how fulfilling your nature and purpose KYC requirements is so important to protecting your business from facilitating criminal activity;

“By the end of April 2016, more than $100,000 had passed through the pensioner’s Kiwibank account before reaching its overseas destination. Whether she knew it or not, she had become a vital cog in an international racket.”

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Contact us today.

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