ASB has been fined $6.73 million by the Reserve Bank for seven breaches of anti-money laundering and countering financing of terrorism laws, including failures in transaction monitoring and customer due diligence.
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bank fails to detect illicit financial flows
ASB fined $6.73m for breaches of money laundering lawbank failed to detect suspicious activity over six years
ASB hit with record $6.7m penalty after six years of AML failuresSpotted something wrong on this page? Report a correction.