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New Zealand banks ASB and Kiwibank were affected, while Australian banks Westpac [58] and ANZ also had problems. [61] Apps of Australian banks NAB, Westpac, ANZ, Commonwealth Bank, Bendigo Bank, and Suncorp were affected. [5] The London Stock Exchange, while operating normally, was unable to push news updates to its website. [54]
On 29 September 2006 the New Zealand Commerce Commission fined Westpac NZ$5.1 million for hidden foreign transaction fees, with most of the fine being reimbursement to affected customers, in the order of 12% of the fees actually charged. All other banks operating in New Zealand had either already been fined or were awaiting a court case.
cash transactions of A$10,000 or more, or foreign currency of that value, international funds transfer instructions, either into or out of Australia, of any amount, and; suspicious transactions of any kind, being transactions the dealer may reasonably suspect of being part of tax evasion or crime, or might assist in a prosecution.
For example, in the United States, suspicious transaction reports [3] must be reported to the Financial Crimes Enforcement Network (FinCEN), an agency of the United States Department of the Treasury. FinCEN maintains a team of analysts who meticulously review these Suspicious Activity Reports to detect potential money laundering activities.
Westpac NZ offers a full banking service with around 1.5 million customers, and 196 branches nationwide. It is one of the big four banks in New Zealand and provides services to small to medium business, corporate and institutional organizations, and is the banker of the New Zealand government. [40]
The section Westpac New Zealand should have its own article Westpac New Zealand. This would be consistent with other subsidiaries of Westpac, such as St George Bank, having their own article and also with equivalent Australian owned New Zealand banks also having separate articles to their parent. Being subject to the New Zealand's regulator ...
Forum Group was an Australian managed services provider offering integrated B2B solutions, [1] including IT, [2] print, environment, [3] [4] fleet [5] and security. [6] Founded in 2011 in St Leonards, New South Wales, the business soon became the most elaborate front for a $400m fraud that competes with that of Christopher Skase. [7]
In 2021-22, Inland Revenue collected $100.6 billion in tax revenue, [6] which helped pay for the services that all New Zealanders benefit from such as social security and welfare, health and education. Other services included law and order, housing and community development, environmental protection, defence, transport, and heritage, culture ...