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ASB fined $6.73m for breaches of money laundering law

The bank admitted seven breaches after regulators said its monitoring and due diligence systems were inadequate for about six years.

Summary by RNZ
The bank cooperated with the investigation and admitted to all seven breaches.

4 Articles

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ASB hit with record $6.7m penalty after six years of AML failures

High Court imposes New Zealand’s largest anti-money laundering penalty after ASB admitted seven breaches of AML/CFT laws.

·New Zealand
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RNZRNZ
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ASB fined $6.73m for breaches of money laundering law

The bank cooperated with the investigation and admitted to all seven breaches.

·New Zealand
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NZ HeraldNZ Herald
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ZBZB
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ASB fined record $6.7m for breaching anti-money laundering laws

The High Court has ordered ASB Bank to pay $6.731 million for breaching anti-money laundering laws. The penalty is the largest ever imposed by a New Zealand...

·Auckland, New Zealand
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NZ Herald broke the news in Auckland, New Zealand on Wednesday, June 10, 2026.
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