Money remitters to appeal failed legal action against RBNZ
The remittance firms, which transfer money to the Pacific Islands, claim they have been unfairly treated due to AML/CFT risks.
In April, NBR revealed the legal action taken by companies Ink Patch Money Transfer, Samoa Money Transfer, and KlickEx.
Three local money remittance firms who took legal action against the Reserve Bank of New Zealand and the Minister of Finance say they will appeal the High Court decision which ruled against them.
The companies are not allowed to have bank accounts and must deal in cash rather than electronic
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