‘Serious and unacceptable’: RBNZ moves against The Co-operative Bank
The Reserve Bank of New Zealand has filed civil proceedings in the High Court against The Co-operative Bank over core-requirement breaches of laws to stop money laundering and the financing of terrorism.

The parties jointly recommended a $1.425 million penalty for The Co-operative Bank to the court, the Reserve Bank (RBNZ) said in a statement. The court would decide the final penalty. ⌘ Read more