The Ministry of Justice says it's disappointed New Zealand has been removed from a European Union white list for not having strong enough controls against money-laundering.
Companies from approved countries on the list are automatically treated as low-risk when it comes to financial transactions in Europe and do not have to undergo certain checks.
New Zealand had been on the white list since its formation in 2008. It was removed in the latest revision earlier this year.
The Ministry says that is likely to mean financial institutions in Europe will keep a closer eye on transactions involving New Zealand companies and individuals, but says it's unlikely to significantly raise compliance costs.
