AML/CFT Regulations paper one [pdf, 2.5 MB]
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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...
BORA-AML-AMENDMENT-BILL.DOC 3 March 2017 Attorney-General Anti-Money Laundering and Countering Financing of Terrorism Amendment Bill Our Ref: ATT395/264 1. We have reviewed the Anti-Money Laundering and Countering Financing of Terrorism Amendment Bill (Bill). We advise it appears to be consistent with the rights and freedoms in the New Zealand Bill of Rights Act 1990 (Bill of Rights Act). 2. We understand that the version of the Bill we have reviewed (copy attached) is int...
...part of your request under section 18(e) of the Act as the information requested does not exist. The IAG was established specifically to provide input into the Statutory Review of the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act) and was not required to produce any annual reports. I would also like to request a schedule of all meetings which were held by the group in the past year I am also refusing this part of your request under section 18(d) of th...
...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...
...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...
...Systems category of the Deloitte IPANZ Public Sector Excellence Awards 2018,’ says Rajesh Chhana, Acting Chief Executive and Secretary for Justice. The win was for implementing Phase 2 of the Anti-Money Laundering and Countering Financing Terrorism (AML/CFT) regulatory system. The Ministry received this award together with the Department of Internal Affairs, Reserve Bank of New Zealand, Financial Markets Authority, New Zealand Customs and Inland Revenue Department. Money laundering is the pro...
...Donee is raising funds has no connection with any country which is high risk from a money laundering or terrorist financing (ML/TF) perspective. This must be determined in accordance with the Countries Assessment Guideline 2012 published by the AML/CFT supervisors; or c. in respect of other Donees, the total value of money paid to the Donee in any consecutive 12- month period is less than $1,000. This exemption is subject to the following conditions: a. The Spark Foundation must id...