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Lexington Trust Services had no AML safeguards in place: New Zealand watchdog

( October 31, 2025, 06:08 GMT | Official Statement) -- MLex Summary: Auckland-based trust-fund manager Lexington Trust Services has provided the country’s financial-crime watchdog with an enforceable undertaking over failures to meet its obligations under New Zealand’s 2009 Anti-Money Laundering and Countering Financing of Terrorism Act. In a statement, New Zealand’s Department of Internal Affairs said its review showed that Lexington Trust Services hadn’t set up, followed or maintained a compliant AML program. It also failed to report suspicious activity, as required by law. As part of its undertaking, the company has agreed not to offer services such as setting up companies, managing money or assets for clients, or helping with buying or selling businesses or properties.The full statement follows: ...

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