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1. Proactive release - Setting the strategic direction for New Zealand's Anti-Money Laundering and Countering Financing of Terrorism Regime [pdf, 1.4 MB]

   © Crown Copyright, Creative Commons Attribution 4.0 International (CC BY 4.0) Hon Andrew Little Minister of Justice Proactive release – Setting the strategic direction for New Zealand’s Anti-Money Laundering and Countering the Financing of Terrorism Regime Date of issue: 9 December 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 un

2. New National Anti-Money laundering and Countering Financing of Terrorism Strategy

   ...laundering allows criminals to disguise the origins of criminal proceeds. The laundering of proceeds of crime is a key enabler of most serious and organised crime occurring in New Zealand. Terrorism financing provides the means to sustain, plan and execute acts of terrorism and finance and maintain terrorist networks. New Zealand’s AML/CFT regime has been in place in New Zealand since 2013, when the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 came into force. AML/CFT...

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3. OIA-116775 [pdf, 5.3 MB]

   ...the amendments to the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the AML/CFT Act). Specifically, you requested: Please provide me with all the documents that you can release with regards to the Statutes Amendment Bill and the other bill with regards to amendments to the AML/CFT Act, mentioned in the below press release. For example, but not limited to, the regulatory impact analysis that was prepared for Cabinet feedback provided by government depart...

4. Supplementary Analysis Report Criminal Activity Intervention Legislation Bill [pdf, 5.6 MB]

   ...risks in the high-value dealers sector. 4 This data may be impacted by a range of factors, including the difficulties in identifying offenders, whether the offence occurs in the context of a gang convoy. 5 The current definition of cash in the AML/CFT Act includes both physical currency and bearer negotiable instruments (e.g. cheques and bearer bonds); this definition would be used as a starting point with the intent of expanding it to include gold bars and ingots. s6(c) RE LE...

5. Regulatory Impact Statement: Second phase of reforms to the Anti-Money Laundering and Countering Financing of Terrorism regime [pdf, 1.6 MB]

   1 Regulatory Impact Statement: Second phase of reforms to the Anti-Money Laundering and Countering Financing of Terrorism regime Agency Disclosure Statement 1. This Regulatory Impact Statement (RIS) has been prepared by the Ministry of Justice. The RIS provides an analysis of options to enhance and extend New Zealand’s anti-money laundering and countering financing of terrorism (AML/CFT) regime. Previous decisions have limited the scope of the options considered 2...

6. Tackling money laundering and terrorist financing consultation [pdf, 321 KB]

   Improving New Zealand’s ability to tackle money laundering and terrorist financing Ministry of Justice Consultation Paper on Phase Two of the AML/CFT Act August 2016 Contents Contents .......................................................................................................................................... 2 Glossary ........................................................................................................................................

7. Class exemptions for managing intermediaries information sheet [pdf, 644 KB]

   ...entities understand the Anti-Money Laundering and Countering Financing of Terrorism (Class Exemptions) Amendment Notice (No 2) 2015 (Managing Intermediaries Exemption). Overview Under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act), reporting entities have customer due diligence (CDD) obligations to identify and verify the identity of their customers, the people acting on behalf of their customers, and any ‘beneficial owners’ of their customer...

8. AMLCFT_Release_Pack_FINAL.pdf [pdf, 7.5 MB]

   ...Information Act 1982 (OIA), be released . Where that is the case, the relevant section of the OIA has been noted and no public interest has been identified that would outweigh the reasons for withhold ing it. No. Document Comments 1. Proposals for an AML/CFT legislative Some information has been withheld in work programme accordance with the following sections of the OIA: Cabinet paper • section 9(2)(d) to avoid prejudice to the Office of the Associate Minister of Justice substantia...

9. Information for businesses

   ...Reporting suspicious activities If businesses notice things that are potential signs of money laundering or financing of terrorism, they need to report that information to Police.  There is more information at: Reporting suspicious activities AML/CFT ministerial exemptions The Minister of Justice can decide to grant an exemption from coverage by the AML/CFT Act under certain circumstances. For example, if a business faces low money laundering risks it may not be required to meet some or...

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10. Working with others to reduce your anti-money laundering compliance costs

    ...down your compliance costs by working with others. If your business provides the types of services that criminals might use to launder money or finance terrorism, you have to comply with the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act. To find out if you’re covered by the Act and the measures you need to put in place, see the information specific to your business at: Tackling money laundering and terrorist financing For example, businesses that deal in high value...

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    4. Information for businesses