27 Jul 2018
DEPARTMENT OF INTERNAL AFFAIRS v QIAN DUODUO LIMITED [2018] NZHC 1887
- Citation
- [2018] NZHC 1887
- Court
- High Court
Court held the appropriate approach was to align the uncapped risk assessment breach with the $2m band used for the most serious specified civil liability acts, then set modest starting points reflecting the admitted conduct, significant mitigating reliance on Starfish and supervisory feedback, absence of actual money laundering, applied totality adjustments under s 74(2), added $25,000 for deliberate misleading/backdating of documents, then reduced the aggregate by 20% for admission and cooperation, resulting in a final pecuniary penalty of NZD 356,000 imposed on Qian DuoDuo Ltd.