New Zealand's Department of Internal Affairs (DIA) has entered into an enforceable undertaking with Pagemark Limited and its director, David Halstead, after identifying failures to meet obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. Under the undertaking, Pagemark Limited and Mr Halstead agreed they will not carry out any activities within the scope of the Act, and Mr Halstead will resign as a director and not act as a director of a similar entity in the future. The DIA found that between January 2017 and March 2025 the company helped form 14 legal entities and provided registered office or business address services to 19 legal entities without conducting appropriate risk assessments or maintaining an adequate AML/CFT compliance programme. It also failed to submit annual reports and prescribed transaction reports as required. The DIA stated that neither Pagemark Limited nor Mr Halstead are alleged to have been involved in money laundering or the financing of terrorism. The DIA warned that if the undertaking’s terms are not met and non-compliance continues, it will take further enforcement action.
Department of Internal Affairs 2025-10-02
New Zealand's Department of Internal Affairs enters enforceable undertaking with Pagemark Limited over AML/CFT non-compliance
New Zealand's Department of Internal Affairs (DIA) has entered into an enforceable undertaking with Pagemark Limited and its director, David Halstead, for failing to meet obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. Pagemark and Halstead agreed to cease activities under the Act, with Halstead resigning as director and refraining from similar roles. The DIA identified failures in risk assessments, AML/CFT compliance, and reporting obligations but noted no involvement in money laundering or terrorism financing.