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Law
5 mins to read
1

Money remitters to appeal failed legal action against RBNZ

The remittance firms, which transfer money to the Pacific Islands, claim they have been unfairly treated due to AML/CFT risks.

In April, NBR revealed the legal action taken by companies Ink Patch Money Transfer, Samoa Money Transfer, and KlickEx.

Hamish McNicol Tue, 14 Jun 2022

Three local money remittance firms who took legal action against the Reserve Bank of New Zealand and the Minister of Finance say they will appeal the High Court decision which ruled against them.

The companies are not allowed to have bank accounts and must deal in cash rather than electronic

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Hamish McNicol Tue, 14 Jun 2022
Contact the Writer: Hmcnicol@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Tags
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