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A BNZ spokesperson said it had re-examined the payments, which were made in 2011 and 2013, and had not identified any concerns regarding the processes or how they were being managed at the time.
“As a highly regulated bank, we must be extremely vigilant on all matters related to money laundering, sanctions and terrorist financing. We constantly review and strengthen our controls to manage an ever-changing regulatory and operational environment.
“It is worth noting that anti-money laundering regulations only allow financial institutions to report suspicious activity reports to certain organizations and entities in order to reduce the risk that this information may be used to circumvent processes and procedures. against money laundering. These typically include the police, the organization’s lawyers and its regulator or supervisor. These rules apply in New Zealand and other countries around the world. “
The data also showed that ASB received $ US1.54 million ($ NZ $ 2.83 million) in five suspicious transactions from China Merchants Bank in 2013 and $ US196,500 ($ NZ295,863) from ANZ Bank in two transactions in 2016 .
ASB Chief Risk Officer Carl Ferguson said the bank had modern and effective systems to monitor and report activities that were potentially illegal and was committed to playing its role in combating this activity and reducing money laundering here and abroad. .
“We take our reporting obligations very seriously. If we consider a customer’s transactions or behavior to be suspicious, we report it to the police and, in some cases, we will exit customers when it is clear that the behavior of their transactions is inappropriate or violates our obligations. “
ANZ has not yet responded to RNZ’s questions.
RNZ
