The $6.7 million fine ASB has agreed to pay for insufficiently vetting billions of dollars of transactions for money laundering is putting the spotlight on the…
NZ Herald ·
ffs ASB, billions going unchecked and you get a slap on the wrist. 6.7m is pocket change for you lot.
exactly, it's a joke. Meanwhile my team gets blamed for every tiny oversight.
More like a gentle tap on the wrist. Banks make that in a day. 🙄
As someone who works in compliance, this is a joke. We get audited up the wazoo for tiny mistakes, but the big boys get a fine that's basically nothing.
they already have donations lined up trust me
government 'beefing up' penalties lol yeah right they'll just take a donation from ASB and forget about it
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'beefing up' – more like 'slightly expanding the feather duster'
Good on the Reserve Bank for finally doing something, but it's way too little too late. Should have been millions in penalties years ago.
I'm just trying to have my lunch and this is what I see. Guess I'll be sticking to my cash under the mattress.
haha good luck, your mattress is probably safer than any bank account
tbh who even trusts banks anymore? they just care about profits, not catching criminals
Studying finance and this is what I'm learning about our system. Makes me wanna change majors.
join the club. I'm switching to a credit union after this.
