New Zealand has introduced new anti-money laundering legislation, which has now been extended to cover sports and racing betting, lawyers, conveyancers, accountants and real estate agents. Businesses that deal in certain high-value goods, including motor vehicles, jewellery and art, will also have obligations under the act when they accept or make large cash transactions. The […]
New laws widening the scope of current legislation on money laundering and the financing of terrorist activity are currently before the New Zealand Parliament and similar moves are expected in Australia. The expanded legislation will bring in sports betting and wagering for the first time and will include significant extra costs for industry.