[ap-intact] INFO: Avoid sweeping crack down on money transfer services, New Zealand Reserve tells banks

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International money transfer services are often used by Pacific Islanders in New Zealand to send money to relatives in the islands, including Samoa, Tonga and Fiji. The Reserve Bank has warned banks not to make sweeping decisions to refuse accounts and services to money transfer services in a bid to comply with anti-money laundering laws. "Money remitters play an important role in providing a specialised financial service that many people wouldn't otherwise access conveniently and affordably," it said.

Read the story by Rob Stock, in stuff.co.nz.  http://www.stuff.co.nz/business/industries/65496548/banks-crack-down-on-money-transfer-services

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