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(Reuters) - New Zealand's central bank on Friday said it had issued a formal warning to National Australia Bank's local unit for breaching rules against money laundering and terrorism financing between November 2018 and April 2020.
NAB's Bank of New Zealand (BNZ) did not report accurate locations for around 50,000 local and physical cash transactions during the period, the central bank said.
However, BNZ promptly rectified the issue and identified the problem as a "technical coding error", it ...
>>> Read more: New Zealand central bank warns NAB's local unit over anti-money laundering breaches
NAB's Bank of New Zealand (BNZ) did not report accurate locations for around 50,000 local and physical cash transactions during the period, the central bank said.
However, BNZ promptly rectified the issue and identified the problem as a "technical coding error", it ...
>>> Read more: New Zealand central bank warns NAB's local unit over anti-money laundering breaches
