A New Zealand First candidate and a former police officer who together lost more than $500,000 through a scam have filed a complaint with the Reserve Bank claiming Kiwibank harboured a “fraudulent” mule account that was used to siphon their stolen money overseas.
The complaint alleges the state-owned retail bank failed to carry out necessary due diligence or properly monitor the account as required under anti-money laundering (AML) regulations, resulting in their life-changing financial loss.
It’s also claimed Kiwibank failed to act on scam concerns following a phone call from Auckland businessman and political candidate Dr David Wilson on December 13, 2022 – just one day after the former South Auckland policeman transferred his life savings to the same account.
The men argue had those concerns been escalated by Kiwibank staff, the retired police officer’s $300,000-plus investment might have been recovered.
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