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1. Summary report on workshop feedback on ways to reduce cost compliance [pdf, 7.9 MB]

   ...Prepared for: Ministry of Justice February 3, 2017 2 Contents Why we ran the workshops 3 Mixed opinion on when and who does customer due diligence (CDD) in the real estate transaction process 4 The language in the AML/CFT Act needs to be consistent with other Acts 4 Real estate agents rarely receive large cash deposits 4 Participants noted duplication of CDD in the transaction process 4 Real estate agents are concerned customers will go to other agent...

2. Anti-Money Laundering and Countering Financing of Terrorism - Cabinet Paper 4 - March 17 [pdf, 241 KB]

   ...introduce the Anti-Money Laundering and Countering Financing of Terrorism Amendment Bill into the House. Executive summary 2. In June 2016 Cabinet made early decisions to extend the Anti-money Laundering and Countering Financing of Terrorism (AML/CFT) regime to lawyers, conveyancers, accountants, real estate agents and some entities who deal in high value products [CAB-16-MIN-0251]. In October 2016, because of the nature of the compliance costs and size of the regulatory change, Cabinet...

3. Anti-Money Laundering and Countering Financing of Terrorism - Cabinet Paper 3 - October 2016 [pdf, 1.2 MB]

   ...ANTI-MONEY LAUNDERING AND COUNTERING FINANCING OF TERRORISM REFORMS: PHASE II Proposal 1. Further to the decision to pass legislation implementing the second phase of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) reforms, this paper: a. Outlines benefits and anticipated costs of the reforms; b. Provides an overview of the feedback on key issues received by the Ministry of Justice during consultation; c. Seeks Cabinet’s agreement to final poli...

4. 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...

5. Proactive release – Anti-Money Laundering and Countering Financing of Terrorism (Prescribed Transactions Reporting) Amendment Regulations 2022 [pdf, 408 KB]

   ...Transactions Reporting) Amendment Regulations 2022 (Amendment Regulations) to be made under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. Background 2 The Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) regime is a risk-based system that detects and deters money laundering and terrorism financing and implements relevant international obligations. There are currently six AML/CFT instruments containing regulations that implement the deta...

6. 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...

7. AMLCFT Statutory Review Final Report [pdf, 5.4 MB]

   ......................................................................................................... 249 7.4. Privacy and protection of information .................................................................... 253 Glossary of terms AML/CFT Anti-Money Laundering and Countering the Financing of Terrorism Act The AML/CFT Act 2009 AML/CFT supervisors The Department of Internal Affairs, the Financial Markets Authority, and the Reserve Bank of New Zealand, are the entitie...

8. Implementation of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 - Regulations and Codes of Practice - Discussion Document [pdf, 486 KB]

   ...Regulations and Codes of Practice DISCUSSION DOCUMENT February 2010 2 Table of Contents Information Section One – Introduction 5..........Purpose of this document 6..........The AML/CFT Act 7..........Regulatory regime 8..........Scope of the regulatory framework 9..........Commencement timeframes Section Two – Exemptions, inclusions and thresholds 10.........Exemptions 10.........Temporary exemptions...

9. 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...

10. Keep our money clean: 1-sided brochure [pdf, 5.8 MB]

    ...Anti-Money Laundering and Countering Financing Terrorism laws operating since 2013. We’re now extending these laws to include more business and service providers as well as additional reporting responsibilities from those companies. The AML/CFT Act now covers transactions and purchases in: Casinos Banks and financial institutions Trust and company service providers Lawyers and conveyancers The following sectors are being covered progressively: Accountants and provider...