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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

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