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.
