Six of 400 companies sign for crime protection, so far

Friday, 20 November 2015 00:00

The private sector is slow to sign up to testing designed to protect against money laundering and terrorist financing.

Only six businesses have signed up to be screened for vulnerabilities against criminal activity since the Designated Business Act 2015 came into force earlier this month.

Around 400 companies are expected to take part so that proactive feedback can provide solutions to weak system links.

Financial Supervision Commission manager Dan Johnson says the organisation plans to start in January:

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