I write in relation to the article by Stephen Bell entitled “Kiwibank CEO questions NZ money laundering push” (Computerworld, May 12).
I am concerned that the article misrepresents the potential impact of the impending report from Deloitte. you attribute to Mr Allen (a policy manager within my business unit) an assertion that the report will have little impact upon the regulations.
In fact, this report will be highly instrumental in assisting future development of the regulations. The report will identify the critical cost drivers for the industry and enable officials to tailor regulations so as to minimise those costs.
Indeed, this was a key purpose for its commissioning. the point made by Mr Allen was that the report is less likely to impact the head legislation, which establishes the higher order policy settings.
This confusion over the distinction between regulation and legislation is unfortunate. Had Mr Bell disclosed that he was a reporter wanting comment for publication, Mr Allen would have ensured that this distinction was made perfectly clear.
In the circumstances, I would appreciate the publication of a formal correction, both in print and online, in order to rectify the misrepresentation.
Crime Prevention and Criminal Justice
Ministry of Justice
• Stephen Bell responds that he identified himself correctly before the interview.