ASB fined record $6.7m for breaching anti-money laundering laws

The Reserve Bank says the penalty reflects the serious nature of ASB's non-compliance.

mercoledì 10 giugno 2026 New tab

78 words~1 min read

NZ Herald10 Jun, 2026 02:49 AM2 mins to readASB chief executive Vittoria Shortt has apologised for the bank's AML/CFT shortcomings.ASB chief executive Vittoria Shortt has apologised for the bank's AML/CFT shortcomings.The High Court has ordered ASB Bank to pay $6.731 million for breaching anti-money laundering laws.The penalty is the largest ever imposed by a New Zealand court under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009.

ASB chief executive Vittoria Shortt said the bank accepted

ASB fined record $6.7m for breaching anti-money laundering laws

ASB fined record $6.7m for breaching anti-money laundering laws

Other newsrooms on this story

Related reading

ASB fined $6.73m for breaches of money laundering law

RBNZ takes Co-operative Bank to court over anti-money laundering breaches

Bank faces $1.4m fine over widespread anti-money laundering system failures

ANZ appeals $125m mortgage disclosure class action ruling

ASIC pushes for $1.3m fine and eight year ban for ex-Star boss

Commonwealth Bank pursued in High Court by shareholders

Other newsrooms on this story

Related reading

ASB fined $6.73m for breaches of money laundering law

RBNZ takes Co-operative Bank to court over anti-money laundering breaches

Bank faces $1.4m fine over widespread anti-money laundering system failures

ANZ appeals $125m mortgage disclosure class action ruling

ASIC pushes for $1.3m fine and eight year ban for ex-Star boss

Commonwealth Bank pursued in High Court by shareholders