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AML obligations missed

Monday, February 15th 2016, 9:05PM

Some adviser businesses still have room to improve when it comes to training their staff in their AML/CFT obligations, one regulation consultant says.

Gavin Austin, of ABC Compliance, said some adviser firms had been lax in keeping staff up-to-date with their requirements.

Many bigger firms had appointed a back office staff member to deal with AML compliance and while they might bring up AML issues as staff meetings, there was no ongoing refresher training  and sometimes key AML people were not being replaced when they left, he said.

“You can’t contract out the requirement to keep people trained.”

Tags: AML

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AIA 5.35 4.49 5.25 5.55
ANZ 5.54 5.15 5.85 6.15
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Avanti Finance 5.45 - - -
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HSBC Premier 5.49 4.39 5.15 5.39
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.25 ▲4.29 ▲5.09 ▲5.35
Kainga Ora ▲5.43 ▲4.57 ▲5.58 ▲5.85
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Kiwibank 5.00 5.55 6.19 6.39
Kiwibank - Offset 5.00 - - -
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Liberty 4.84 - - -
Nelson Building Society 5.95 4.95 5.85 -
Pepper Essential 3.44 - - -
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TSB Special 4.79 ▼4.34 ▼4.99 5.35
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Westpac 5.54 5.09 5.79 6.09
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Median 5.45 4.55 5.25 5.52

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