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1. AMLCFT Statutory Review Summary Document [pdf, 301 KB]

   ` Review of the AML/CFT Act Summary Document Ministry of Justice October 2021 Important notice The opinions contained in this document are those of the Ministry of Justice and do not reflect official government policy. Readers are advised to seek specific legal advice from a qualified professional person before undertaking any action in reliance on the contents of this publication. The contents of this discussion document must not be construed as legal advice. The...

2. Report highlights New Zealand's effectiveness in combating criminal business and finance terrorism

   ...Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) system across the public and private sectors. Among the report’s findings were: New Zealand has a robust understanding of its money laundering and terrorist financing risks. Our law enforcement agencies regularly use financial intelligence from the AML/CFT system. New Zealand Police have a strong focus and have developed world-leading expertise in targeting and confiscating of proceeds of crime. There is sound cooper...

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3. CGE Ministerial Exemption [pdf, 79 KB]

   ...money laundering or terrorism financing is appropriate for CGE, for the following reasons: a. CGE has a very small customer base, with most of those customers being charities. b. Some of its customers are themselves reporting entities under the AML/CFT Act. c. The cash is moved from New Zealand to Australia. Australia has its own AML/CFT regime which will monitor transactions coming into Australia. All transactions are then processed through registered banks which also have their...

4. SPL Ministerial Exemption [pdf, 65 KB]

   ...Group. An exemption would place SFL in substantially the same position as other corporate bond issuers of debt securities which do not have a separate treasury function executed by a separate subsidiary company and are therefore not subject to the AML/CFT Act. c. SFL has been granted exemptions in the FMA and the RBNZ regulatory regimes for NBDTs. In those exemptions, the regulatory body also took the view that SFL’s role must be viewed as part of the Spark Group as a whole, as a separ...

5. OIA-97741.pdf [pdf, 201 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 17 August 2022 Our ref: OIA 97741 Tēnā koe Official Information Act request: Anti-Money Laundering Industry Advisory Group Thank you for your email of 19 July 2022 requesting, under the Official Information Act 1982 (the Act), information related to the Anti-Money Laundering Industry Advisory Group (IAG). I have outline...

6. AMLCFT Stat Review FAQ [pdf, 1.7 MB]

   Page 1/2 FAQs: The Government’s Review of the Anti-Money Laundering and Countering the Financing of Terrorism Act (AML/CFT) What is money laundering? It’s the process criminals use to “clean” the money they make from crimes such as fraud and dealing in illegal drugs. By making the money look like it comes from a legitimate source, they can cover their tracks and avoid detection. Criminal organisations and people who finance terrorism target businesses and countries they beli...

7. 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. Recent reporting changes affect all businesses that currently – or will – have to comply with the AML/CFT laws. On this page: Suspicious transaction reports Suspicious activity reports How do I know if something is suspicious? Prescribed transaction reports What are the rules for businesses that deal in high value goods? How do I submit a report...

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8. AMLCFT Statutory Review Consultation Document [pdf, 1.2 MB]

   - Review of the AML/CFT Act Consultation Document Ministry of Justice October 2021 Important notice The opinions contained in this document are those of the Ministry of Justice and do not reflect official government policy. Readers are advised to seek specific legal advice from a qualified professional person before undertaking any action in reliance on the contents of this publication. The contents of this discussion document must not be con...

9. Information for customers and the public

   ...prevent and combat money laundering, by law some businesses have to ask their customers to confirm who they are and ask questions about their transactions. This helps detect crime and deters criminals from abusing New Zealand’s financial system. The AML/CFT public awareness campaign website provides basic information on New Zealand's anti-money laundering and countering financing of terrorism regime On this page: What is money laundering and financing of terrorism? Who does this affect?...

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   3. Tackling money laundering and terrorist financing

10. AML phase II - Business compliance impacts [pdf, 491 KB]

    i Ministry of Justice Phase II Anti-money laundering reforms Business Compliance Impacts September 2016 / Ministry of Justice | Contents ii Contents 1. Introduction 1 2. Executive summary 3 3. Methodology 9 4. Detailed Study Findings 15 5. Statement of Responsibility 25 Other than the Ministry of Justice, any person who obtains access to and reads this report, accepts and agrees, by reading this report, the following terms: 1. The