Less than 24 hours ago, New Zealand experienced its largest terrorist attack. At approximately 2.30 pm (NZT) on Friday
15th March 2019, an Australian born white supremist took a stash of guns to two mosques located in Christchurch, New
Zealand.
He opened fire with what people describe as machine guns.
At least 39 people have died and any more are being treated in hospitals. The actual number of deaths is not yet
confirmed.
Anti-Terrorist Laws – New Zealand
New Zealand has recently introduced obligations on businesses in the professional services area to risk manage threats of money laundering and terrorism financing. These services have included lawyers, accountants and real estate agents.
These businesses are responsible for ensuring they have adequate risk management processes to identity, monitor and
report on threats.
Challenges to Small Businesses
Compliance is dreaded by many small businesses who treat compliance as a cost and not a revenue generator. Though most
of that is true, meeting compliance obligations provides a business with greater levels of confidence that they will not
be put out of practice due to a hefty regulatory penalty.
What is RegTech?
RegTech stands for Regulatory Technology. Using machine learning or artificial intelligence, RegTech can predict actions and notify risks.
Are Costs Affordable to Small Businesses?
Some RegTech is known as Software-as-a-Service (SaaS). SaaS comes packaged with all things included in one package. Downloads are not required when electing to access
through a secure network.