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1. Anti-Money Laundering and Countering Financing of Terrorism - Cabinet Paper 2 - Sept 2016 [pdf, 126 KB]

   ...of the Minister of Justice ANTI-MONEY LAUNDERING AND COUNTERING FINANCING OF TERRORISM REFORMS: PHASE II Proposal 1. To progress the second phase of reforms to New Zealand’s anti-money laundering and countering financing of terrorism (AML/CFT) regime, I seek Cabinet’s agreement to: 1.1. the early policy decisions outlined in this paper; 1.2. grant me a limited Power to Act to make some further decisions to progress the early decisions; 1.3. issue drafting...

2. Information for businesses

   New law changes are bringing in “Phase 2” of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act. The changes extend the AML/CFT Act to cover more businesses including real estate agents and conveyancers; many lawyers and accountants; some businesses that deal in expensive goods; and betting on sports and racing. Some of the changes also affect Phase 1 businesses that have had to comply with the Act since 2013 (that is, banks, casinos, a range of financial service p...

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3. Russell Investment Group Limited [pdf, 82 KB]

   ...notice on 6 April 2020 that he has granted the following exemption from the Act: Ministerial Exemption: Russell Investment Group Limited Exempting Russell Investment Group Limited (RIGL) from the requirement in section 56(2) of the Act that the AML/CFT compliance officer for a reporting entity must be one of its employees. The exemption is made to allow an Australian-based compliance officer who is not an employee of RIGL to be its AML/CFT compliance officer. In this exemption, un...

4. Tackling money laundering and terrorist financing

   ...Laundering laws.  To improve New Zealand’s ability to tackle money laundering and terrorism financing, the Government has made law changes that affect various businesses and professions. The Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Amendment Act 2017 puts in place "Phase 2" of New Zealand's AML/CFT laws. The new laws: extend the current AML/CFT Act to cover more businesses (including real estate agents and conveyancers; many lawyers and accountants; some bus...

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5. OIA-98200.pdf [pdf, 247 KB]

   ...contactus@justice.govt.nz | www.justice.govt.nz 31 August 2022 Our ref: OIA 98200 Tēnā koe Official Information Act request: Strategic review of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the AML/CFT Act) Thank you for your email of 8 August 2022, requesting, under the Official Information Act 1982 (the Act), information relating to the strategic review of the AML/CFT Act. Specifically, you requested: Please make available to us...

6. 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...

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

   ...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 and terrorist...

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

   ...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 Laundering and Countering Financing of Terrorism Act 2009 (the AML/CFT Act). Specifically, you requested: 1. Please provide the impact / assessment of Bill of Rights and Human Rights Act 1993 in relation to introduction and amendment of AML / CTF Act when it comes to housing status of people who would b...

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

   ...SETTING THE STRATEGIC DIRECTION FOR NEW ZEALAND’S ANTI-MONEY LAUNDERING AND COUNTERING FINANCING OF TERRORISM REGIME Proposal 1. This paper seeks your agreement to a National Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Strategy setting the strategic direction for New Zealand’s AML/CFT regime. The Strategy will coordinate efforts across government and the private sector and guide prioritisation of work to improve the regime. 2. This paper also brin...

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

    The Ministry of Justice has released New Zealand’s first National Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Strategy. The National Strategy will coordinate efforts across government and the private sector and guide prioritisation of work to improve the system. Money 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 fina...

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