Reserve-Bank-issues-warning--to-Aotearoa-Credit-Union

Reserve-Bank-issues-warning--to-Aotearoa-Credit-Union

The Reserve Bank has today issued a formal warning to Aotearoa Credit Union under section 80 of the Anti-Money Laundering and Countering Financing of Terrorism Act.

As the supervisor of non-bank deposit takers for compliance with their Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) obligations, the Reserve Bank has reasonable grounds to believe that between 30 June 2013 and 2 February 2015, Aotearoa Credit Union did not meet the following obligations: