Search Results

1. 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...

2. Proactive-release-20240715-CAB-Regulatory-Systems-Justice-Amendment-Bill_Final.pdf [pdf, 9.6 MB]

   ...Regulatory Systems (Courts Improvement) Amendment Bill; 1.2 the Regulatory Systems (Tribunals) Amendment Bill; 1.3 the Regulatory Systems (Occupational Regulation) Amendment Bill; and 1.4 the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Amendment Bill. Relation to government priorities 2 The four associated bills in the Regulatory Systems (Justice) Amendment Bill package will improve the quality of legislation regulating justice systems and contribute to th...

3. 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...

   Located in:

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

4. Proactive release – Criminal Activity Intervention Legislation Bill [pdf, 15 MB]

   ...and Justice have not identified any comparable jurisdiction in the world that has enacted any such offence. Preventing criminal cash from being converted to high value goods or introduced to the financial system 18. The statutory review of the AML/CFT Act has identified a number of options that would make it harder for gangs to enjoy cash proceeds or get them into the financial system. The Ministry of Justice will make recommendations to the Minister of Justice on 30 June relating to:...

5. Previous consultations

   ...Punishment [2019] Have your say about access to official information [2019] Strengthening the Criminal Justice System for Victims survey [2019] Strengthening the family justice system [2019] Regulations to support high value dealers to comply with the AML/CFT Act [2019] Legal Aid Invoicing [2019] Legal Aid High Cost Case policy & Amendment to Grant form changes [2018] Rewriting the 2014 Family Justice System Reforms [2018] Korero Mai - Tell Us Your Story [2018] Information sharing guidance...

   Located in:

   1. Justice sector & policy >
   2. Have your say

6. Flyer and Factsheet Arabic [pdf, 3.3 MB]

   ...عمالئها، ونود التأكد من أن القانون يحمي خصوصية األشخاص. يرجى إخبارنا عن رأيكم يف قوانيننا بشأن مكافحة غسل األموال، اذهب إىل: www.justice.govt.nz/amlcft-review نحتاج أن نسمع منكم قبل تاريخ 3 ديسمرب 2021. وشكراً. يعد غسل األموال ومتويل اإلرهاب جرمية غسل األموال هي العملية التي يستخدمها ا...

7. Renewal of the AML/CFT (Class Exemptions) Notice 2018

   ...extension The Minister of Justice has granted a short-term extension to exemptions for reporting entities with respect to licensed managing intermediaries (LMI) customers under Part 5 and specified managing intermediaries (SMI) customers under Part 6 of the AML/CFT (Class Exemptions) Notice 2023 (the Notice) in June 2023. The short-term extension meant these exemptions were expiring on 31 December 2023. It was understood these exemptions were no longer required because of the amended definition...

   Located in:

   1. Justice sector & policy >
   2. Key initiatives >
   3. Tackling money laundering and terrorist financing >
   4. Information for businesses >
   5. AML/CFT ministerial exemptions

8. LCRO 103/2022 RP v DQ (25 September 2024) [pdf, 272 KB]

   ...our clients have signed the agreement, we will forward it to you for signing by WK. For the sake of completeness, we would also be grateful if you could provide the following as we do not have copies on our file: • Permission to share your AML CDD carried out on WK for our records as the 4th vendor; • A copy of the executed property sharing agreement dated 15 May 2015 – we have sighted your letter invoking clause 4 to the other vendors and we believe it is appropriate to also...

9. 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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   3. News

10. AML/CFT Phase 2 costs and benefits reports

    ...benefits outweigh the costs, especially when broader strategic benefits are included. It’s estimated the cost to business sectors could be in the order of $0.8 to $1.1 billion over 10 years. In terms of benefits, the analysis estimated that Phase 2 of the AML/CFT reforms will disrupt about $1.7 billion of illegal drugs and fraud crime over a 10 year period, This is reflected in the benefit cost ratio (BCR) figures of just over 1 (that is, a BCR of 1 means for each dollar spent, there‘s a do...

    Located in:

    1. Justice sector & policy >
    2. Key initiatives >
    3. Tackling money laundering and terrorist financing >
    4. Development of the AML/CFT Act and Regulations >
    5. Costs and benefits of AML/CFT laws