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Worldclear Scandal Exposes Major AML Failures and Regulatory Gaps in New Zealand’s Payment Services Sector
New Zealand’s financial oversight framework has come under renewed scrutiny following revelations surrounding Worldclear Limited, a specialized payment service provider accused of operating with severe anti-money laundering deficiencies while processing nearly NZD 500 million in annual transactions. The controversy emerged after the Department of Internal Affairs conducted an on-site inspection of the Hamilton-based firm in March 2018 and uncovered systemic failures in the
May 126 min read
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