Department of Internal Affairs of New Zealand

10/02/2025 | Press release | Distributed by Public on 10/01/2025 19:21

02/10/2025 -: DIA enters into Enforceable Undertaking with Pagemark Limited over non-compliance with anti-money laundering rules

2 October 2025

The Department of Internal Affairs has entered into an enforceable undertaking with Pagemark Limited and its director David Halstead, following failures by the company to meet its obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.

Between January 2017 and March 2025, Pagemark Limited 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 Anti-Money Laundering and Countering Financing of Terrorism compliance programme. Pagemark Limited also failed to submit annual reports and prescribed transaction reports as required by the Act.

An enforceable undertaking is an agreement between the Department and a business following a breach of the Act. As part of the enforceable undertaking, Pagemark Limited and Mr Halstead have agreed that they will not carry out any activities that fall within the scope of the Act. Mr Halstead has agreed to resign as director of Pagemark Limited and not to act as a director of a similar entity in the future.

Pagemark Limited or Mr Halstead are not alleged to have been involved in money laundering or the financing of terrorism.

"These obligations are designed to protect the financial system from misuse. When businesses don't carry out their responsibilities, they run the risk of being exploited for criminal activities." says Serge Sablyak, Director AML/CFT, Department of Internal Affairs.

"Enforceable undertakings allow us to address non-compliance by working with entities to ensure that obligations are understood and met, while also providing a clear path for corrective action."

"However, if the terms of the undertaking are not met and non-compliance continues, the Department will take further enforcement action."

For more information about DIA's role in the Anti-Money Laundering and Countering Financing of Terrorism system and our regulatory approach visit: https://www.dia.govt.nz/AML-CFT-Homepage .

-ENDS-

Media contact
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Department of Internal Affairs Te Tari Taiwhenua
Mobile: +64 27 535 8639
Email: [email protected]

Department of Internal Affairs of New Zealand published this content on October 02, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on October 02, 2025 at 01:21 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]