Development of the AML/CFT Amendment Act 2017
The Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Amendment Bill was passed in August 2017, establishing "Phase 2" of New Zealand's AML/CFT laws.
Read the AML/CFT Amendment Act 2017 (external link)
Information about the Bill’s progress through Parliament (external link)
Development of the Phase 2 laws involved 2 rounds of public consultation.
Phase 2 AML/CFT exposure draft amendment Bill (external link)
Tackling money laundering and terrorist financing (external link)
Independent studies, including cost/benefit analysis, were also commissioned.
AML/CFT Phase 2 costs and benefits reports (external link)
Cabinet considered four Cabinet papers in the development of the Phase 2 laws:
June 2016 Cabinet paper [PDF, 254 KB]
September 2016 Cabinet paper [PDF, 126 KB]
October 2016 Cabinet paper [PDF, 1.2 MB]
March 2017 Cabinet paper [PDF, 241 KB]
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