Ministry of Justice

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1. Consultation Document - AML/CFT Early Regulatory Package Exposure Draft February 2023 [pdf, 494 KB]

   ...February 2023 AML/CFT ‘Early’ Regulatory Package: Exposure Draft February 2023 Overview The Ministry of Justice has concluded its statutory review of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 and broadly found that the Act provides a sound regulatory regime that provides the basis to detect and deter money laundering and terrorism financing, but that there are some issues that prevent the regime from being the best it can...

2. Submissions Analysis of the Exposure Draft Amendment Bill for Phase 2 of the AML/CFT Reforms [pdf, 8 MB]

   1 Submissions Analysis of the Exposure Draft Amendment Bill for Phase 2 of the AML/CFT Reforms Prepared for: Ministry of Justice March 1, 2017 2 Contents Main themes 3 Introduction 6 Phase 2 businesses and professions 7 Lawyers and conveyancers 7 Accountants 8 Real estate 8 Gambling 9 High value goods 9 Proposed changes that affect compliance costs 11 Suspicious activity reporting 11 Designated Business Groups 13...

3. Proactive release – Documents relating to Implementing the recommendations of the AML/CFT statutory review [pdf, 2.6 MB]

   Hon Kiri Allan Minister of Justice Proactive release – Documents relating to Implementing the recommendations of the AML/CFT statutory review Date of issue: 22 March 2023 The following documents have been proactively released in accordance with Cabinet Office Circular CO (18) 4. Some information has been withheld on the basis that it would not, if requested under the Official Information Act 1982 (OIA), be released. Where that is the case, the relevant sectio...

4. Proactive Release - Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT): High-Value Dealer Regulations [pdf, 1.9 MB]

   © Crown Copyright, Creative Commons Attribution 4.0 International (CC BY 4.0) Hon Andrew Little Minister of Justice Proactive Release – Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT): High-Value Dealer Regulations Date of issue: 8 August 2019 The following documents have been proactively released in accordance with Cabinet Office Circular CO (18) 4. Some information has been withheld on the basis that it would not, if requested under the Official Inf...

5. Draft anti-money laundering laws released

   ...will be affected by proposed reforms to anti-money laundering rules can have their say on a new draft law. The Government announced in June that it would fast-track the second phase of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act. The Act currently covers a range of financial services and casinos. Phase 2 will extend it to cover many lawyers, accountants, real estate agents, some business that deal in expensive goods, and sports and racing betting. An exposure d...

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6. Anti-Money Laundering Laws Reviewed

   The Ministry of Justice has reviewed the Anti-Money Laundering and Countering Financing of Terrorism Act. A review of the Act was required by law 5 years after the 2017 amendments had been in place. Overall, the report concluded that the Act provides for a generally sound regulatory regime that can effectively detect and deter money laundering and terrorism financing. However, there were also some issues that we considered prevented the regime from being the best it can be for New Zealand. Most...

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7. Consultation launched to inform new anti-money laundering laws

   ...affected by upcoming changes to anti-money laundering law to have their say on the proposed reforms. The Ministry has issued a consultation document as part of the Government’s move to extend the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) to more businesses and professions. “We want to make sure our anti-money laundering laws are effective, while minimising the impact on businesses,” says Rajesh Chhana, Deputy Secretary Policy. “Money laundering a...

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8. What do you think of our Anti-Money Laundering laws?

   The Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 keeps Aotearoa New Zealand safe from money laundering and terrorism financing. By making it harder for criminals to launder money or finance terrorism, we also make profit-motivated crime, like selling drugs or defrauding people, less appealing. Money laundering affects all of us. It's happening every day across the country. It’s estimated that over $1 billion a year comes from drug dealing and fraud, and can be...

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9. OIA-Anti-money Laundering and Countering the Financing of Terrorism Act [pdf, 196 KB]

   Justice Centre | 19 Aitken Street DX SX10088 | Wellington T 04 918 8800 | F 04 918 8820 ContactUs@justice.govt.nz | www.justice.govt.nz 15 November 2024 Our ref: OIA 116764 Tēnā koe Official Information Act request: Anti-Money Laundering and Countering Financing of Terrorism Act Thank you for your email of 17 October 2024 to the Ministry of Justice, requesting, under the Official Information Act 1982 (the Act), information regarding the amendments to the Anti- Money...

10. Proactive Release – Expiring Anti-Money Laundering and Countering Financing of Terrorism Act 2009 regulations: substantive and technical changes and new regulatory proposals [pdf, 954 KB]

    ...Financing of Terrorism Act 2009 – Expiring Regulations and New Regulatory Proposals Proposal 1. This paper seeks agreement to proposals to issue new and amend expiring Regulations under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009. Executive Summary 2. Two key Regulations issued under the AML/CFT Act expire in the next two years. The AML/CFT (Exemptions) Regulations 2011 expire on 30 June 2020, and the AML/CFT (Definitions) Regulations 2011 par...