Money remitter Qian DuoDuo fined $1.125m over AML failures
Department of Internal Affairs found the company failed to report 197 international transactions to China, totalling over $19.14m between June 2018 and September 2019.
Two individuals involved have already been convicted of criminal offending.
Auckland-based foreign exchange and money remittance company Qian DuoDuo Ltd, which traded under the name Lidong Foreign Exchange, has been convicted and fined $1.125 million for failing to report suspicious activities and to submit prescribed transaction reports.
The Department of Internal Affairs
Want to read more? It's easy.
Choose your best value subscription option
Student
Exclusive FREE offer for uni students studying at a New Zealand university (valued at $499).
