April 9 2018
A consultancy service’s actions have been questioned in court as the Government seeks to penalise a company for breaching money laundering and terrorism financing laws.
In the High Court at Auckland today, the Department of Internal Affairs claimed Qian DuoDuo Limited (QDD) – trading under Lidong Foreign Exchange – failed to meet Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT) requirements for customer due diligence, account monitoring, record keeping and risk assessment.