anti-money laundering


PHOTO: Internal Affairs Photo: RNZ / Alexander Robertson

Co-working office space company Regus Management has been warned for not complying with anti-money laundering laws.

The Department of Internal Affairs (DIA) issued a formal warning to the company last month for not checking on the background of people using its physical and virtual offices, nor did it keep records about them.

DIA director of anti-money laundering Mike Stone said Regus fell short on the record-keeping expected and required.

“Virtual office space providers that have overseas customers need to hold detailed records on their customers and keep those records up to date,” he said.

“Criminals may choose to use virtual offices based in New Zealand to trade on our clean reputation no matter where they are in the world.”