November 30, 2021
Too often FinCap hears from financial mentors who are concerned that some in Aotearoa are denied access to bank accounts or other essential services. At times when we follow up with the institutions who are denying access, we are told that AML (Anti Money Laundering requirements) is responsible for the barrier.
Financial mentors are also sometimes told the same when advocating for whānau at a local level. The review which the Consultation Document is part of must establish whether AML is causing such issues in the community and work out how to overcome this if so.
Submission on AML/CFT Act Consultation Document
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