OIA-111433.pdf [pdf, 4.9 MB]
...may find it harder to maintain correspondent relationships with international financial institutions, making it harder for New Zealand businesses to make certain international transactions. New Zealand exporters may also be subject to more stringent checks by overseas institutions, putting them at a competitive disadvantage. 39. In the worst-case scenario, severe non-compliance with FATF standards, could result in ‘grey-listing’ and application of counter-measures. Grey-listing means a cou...