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1. 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...

2. 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...

3. 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...

4. 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...

   Located in:

   1. Justice sector & policy >
   2. Key initiatives >
   3. Tackling money laundering and terrorist financing >
   4. Information for businesses

5. 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...

6. 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

7. Phase II Anti-money laundering reforms - Business Compliance Impacts [pdf, 495 KB]

   ...report should be read in conjunction with the disclaimers set out in the report, and, where applicable, the Statement of Responsibility. / Ministry of Justice | Introduction 1 1. Introduction 1.1. Background and context New Zealand’s AML/CFT regime is part of a suite of initiatives directed at combating transnational and organised crime. The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the Act), which came into force on 30 June 2013, implemented P...

8. Ministerial Exemption Notice: Fletcher Building Retirement Plan [pdf, 216 KB]

   Ministerial exemption: Fletcher Building Retirement Plan 1 In my capacity as the Associate Minister of Justice, and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 (the Act), I exempt the Trustee of the Fletcher Building Retirement Plan (the Plan), from the provisions of Part 2 of the Act in relation to services provided as Trustee of the Plan. 2 This exemption is granted subject to the following conditions: a....

9. GSFA Ministerial Exemption [pdf, 66 KB]

   ...financing (“ML/TF”) risk as a result of that change, it is required to notify the Ministry of Justice and the Financial Markets Authority to undertake to work with those bodies to agree on how to manage those risks: e. The Authority must appoint an AML/CFT Compliance Officer in accordance with section 56(2) and (4) to oversee compliance with these conditions; and f. The Authority must inform the Ministry of Justice of any changes that may affect the exemption and/or conditions impos...

10. SSL Ministerial Exemption [pdf, 66 KB]

    ...this helps to identify suspicious activity. f. It is very difficult to receive a refund. These are only provided for tightly prescribed reasons. g. The transactions are subject to a chargeback, processed by the relevant New Zealand bank subject to AML/CFT obligations. The exemption comes into force on 30 June 2023. The exemption will expire on 30 June 2028. Any person wishing to provide comment on this notice should contact the Criminal Law Team at the Ministry of Justice by emailin...