New Zealand c.bank files court action against TSB Bank

  • 5/27/2021
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WELLINGTON, May 27 (Reuters) - The Reserve Bank of New Zealand (RBNZ) said on Thursday it has filed a statement of claim in the High Court against TSB Bank for acknowledged breaches of anti-money laundering laws. The claim represents an escalated regulatory response to TSB’s non-compliance with aspects of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009, it said in a statement. It is not alleged that TSB was involved in money laundering or the financing of terrorism, Deputy Governor and General Manager of Financial Stability Geoff Bascand said. (Reporting by Praveen Menon; Editing by Jacqueline Wong)

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