cruse and associates accounting
Experts warns, firms could get struggle to meet deadline for money laundering.
Financial institutions may struggle to be ready for new anti-money-laundering laws if they haven’t yet begun preparations, Cruse and Associates claims.
PricewaterhouseCoopers advisory partner Eric Lucas said that when Australia introduced similar regulations, implementation took longer and cost more than many expected.
New Zealand’s law change comes into force on June 30 and is expected to cost the financial sector close to $230 million in start-up costs and $128 million in ongoing costs...