Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Custom House Offers to Advise New Zealand Justice

Custom House Offers to Advise New Zealand Justice Minister

AUCKLAND, Feb. 17 /CNW-AsiaNet/ --

Peter Gustavson, President and CEO of Custom House Global Foreign Exchange said today the company is willing to offer its expertise in the control of money laundering and terrorist financing to the government of New Zealand.

Custom House is the largest non-bank foreign exchange service in North America and does twenty-five per cent of its business in New Zealand and Australia. Gustavson is responding to the February 16 announcement of the Honourable Phil Goff, Minister of Justice who plans to introduce new laws to tighten money laundering and terrorist financing in New Zealand.

"We are leaders in this area and employ some of the best minds in the industry to ensure compliance," said Gustavson. "We have people like Bernard Beck, B.A., M.B.A., C.F.E., Senior Vice President and Chief Compliance Officer to ensure that the company and employees comply with the complex regulations that govern the financial industry in all the markets in which Custom House does business," Gustavson said.

"Beck has 25 years of experience with the Royal Canadian Mounted Police (RCMP), where he was the Unit Commander in the Commercial Crime Section. He has specialized in coordinating and conducting complex, international financial investigations into fraud, proceeds of crime, asset tracing, and money laundering. Beck has training and experience in legal and regulatory matters, especially in criminal code and federal and provincial statutes," said Gustavson.

Gustavson and Custom House have already contributed to the safety of financial institutions by helping the government of Canada draft its anti-money-laundering regulations. Gustavson was instrumental in the creation of the Canadian Foreign Exchange Dealers' Association, an organization of which he is now President.

Custom House Global Foreign Exchange handles more than $10 billion in transactions annually for 45,000 clients in Australia, Canada, New Zealand, the United Kingdom and the United States. The company recently opened its 80th international branch in the city of London and plans more growth, nationally and internationally, this year. Custom House provides currency exchange solutions to pay foreign invoices and exchange foreign receivables. The company offers foreign exchange currency drafts, international wires, forward contracts, a foreign exchange rate watch service, world market updates and transactions through its online platform for importers, exporters and financial institutions.


SOURCE: Custom House Global Foreign Exchange

© Scoop Media

Business Headlines | Sci-Tech Headlines


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news