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TSB fined $3.5m for AML breaches

TSB ignored warnings from Reserve Bank over non-compliance.

TSB Bank has been fined $3.5 million for breaches of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT).

The case had been brought against TSB in the High Court at Wellington by the Reserve Bank, supported by an agreed statement of facts and joint submission on

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Daniel Riordan Tue, 31 Aug 2021
Contact the Writer: daniel@nbr.co.nz
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TSB fined $3.5m for AML breaches
General Business,
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