New Zealand's market watchdog has warned online investment service Sharesies about failing to have sufficient anti-money laundering measures
New Zealand's market watchdog has warned online investment service Sharesies about failing to have sufficient anti-money laundering measures
23 August 2021
The Financial Markets Authority says it's not alleging the platform has enabled money laundering or the financing of terrorism.
It says Sharesies didn't obtain sufficient information about customers and their reasons for using the platform.
The Wellington-based company has more than 400 thousand clients and manages more than 1.5 billion dollars.
It's co-operating with the authority to meet legal obligations.
© 2024 Newstalk ZB, NZCity