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Derivatives trader CLSAP NZ admits anti-money laundering law breaches in case with FMA 5 May, 2021 10:23 PM 6 minutes to read CLSA Premium New Zealand has admitted to anti-money laundering breaches. Photo / File NZ Herald A Kiwi derivatives trading firm and subsidiary of a Hong Kong company has admitted breaching anti-money-laundering laws after action was taken by the regulator. CLSA Premium New Zealand Limited (CLSAP NZ) was accused of nearly $50 million in suspicious transactions in a civil case filed in the High Court at Auckland by the Financial Markets Authority (FMA) in June last year. Today, the FMA said the Auckland-based company has admitted it breached the Anti Money Laundering and Countering Financing of Terrorism (AML/CFT) Act. The markets watchdog had alleged the company failed to comply with its legal obligations between April 2015 and November 2018. ....
Supplied One of the bags picked up by cocaine money launderer Thi Lieu Le had so much cash in it the undercover Customs officer who observed the handover recorded that she struggled to carry it . When a student named in court documents simply as ‘Ms Do’ walked into the ASB branch on Auckland’s Queen St and paid $100,000 cash into her account, it was “nothing more than an informal transfer system”. At least that was how she saw it. For Detective Sergeant Andrew Dunhill however, whose undercover Police and Customs team witnessed the transaction on August 15, 2017, it was another name to add to the list. ....