Articles & Knowledge
AML legislation & resources.

Keep up to date with regulatory changes, and read the latest research, AML news, and advice from industry experts.

Resources

Download customer due diligence information and other useful documents to help with your ongoing AML obligations.

These AML cheat sheets provide a handy reference to the essentials of AML and CFT.

Know Your Customer (KYC)

The six steps to knowing your customer (KYC).

AML/CFT Legislation

A brief overview of the AML/CFT legislation.

AML/CFT Fact Sheet

The most important facts to know about AML/CFT in New Zealand.

With five different types of customer due diligence, these guides provide details on how to complete different types of CDD requests.

Completing Enhanced CDD

If a risk assessment has shown a high risk of money laundering you may need to carry out extra measures to identify your customer and source of funds.

Completing Ongoing CDD

Ongoing CDD of customers is essential to ensure you understand any changes in your customers circumstances.

Completing Simplified CDD

If a risk assessment has shown a low risk of money laundering you may only need to identify your customer following the simplified CDD process.

Completing Delayed CDD

Generally, you must not start work until customer identity has been verified and filed, however, in some circumstances you may be able to.

Completing Standard CDD

This guide provides a checklist of activity for what you need to do to identify your customer.

Attic

Download Attic magazine, filled with AML research, expert opinions, financial crime investigation, interviews, and events  from all around the world.

In the June/July issue of Attic we look at human trafficking and modern slavery. The devastating impacts of this criminal activity and the common indicators connecting money laundering and human trafficking.

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This month’s issue takes a look at Russia Sanctions, how they have effected the world economy, an opinion piece from Adam Hunt on the FATF, thoughts from Daniel Howell of GravityLab on ‘why doing good is better for business and profit’ and AML news and events from around the world.

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This bumper edition of Attic magazine covers a range of topics from cryptocurrency, to compliance to the role of DeFi in money laundering.

Attic also talks to three kick-ass women as they discuss their career journey in the AML industry.

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Legislation

Browse our legislation library to access key legislation, supervisory guidance, and other resources from the Department of Internal Affairs, Reserve Bank of New Zealand, and Financial Markets Authority.

Anti-Money Laundering and Countering Financing of Terrorism Act 2009

Read the full version of the AML/CFT Act 2009 here.

AML/CFT (Definitions) Regulations 2011

Here you will find the definitions of key phrases included in the AML/CFT Act.

AML/CFT (Exemptions) Regulations 2011

All the relevant exemptions of the AML/CFT Act.

AML/CFT (Requirements and Compliance) Regulations 2011

Read the requirements and compliance regulations under the Act. 

AML/CFT (Requirements and Compliance) Amendment Regulations 2017

Read the 2017 amendments to the AML/CFT Act (Requirements and Compliance) regulations. 

AML/CFT Amendment Act 2017

Read the 2017 amendments to the full AML/CFT Act.

AML/CFT (Prescribed Transactions Reporting) Regulations 2016

Find the regulations behind Prescribed Transaction Reporting (PTR).

AML/CFT (Definitions) Amendment Regulations 2018

Find the amended definitions of key AML/CFT Act phrases.

Anti-Money Laundering and Countering Financing of Terrorism (Cross-border Transportation of Cash) Amendment Regulations 2021

Find all the amended legislation about the cross-border transportation of cash in relation to the AML/CFT Act.

Privacy Act 2020

Read the full version of the Privacy Act 2020 here. 

Amended Identity Verification Code of Practice 2013

Everything you need to know about the identity verification code of practice. 

Trust as Customer (Supervisor Clarification)

Clarification of the position the supervisors are taking with respect of
the AML/CFT Act interpretation of a trust as a customer.

Bookkeepers (Explanatory Note)

Read about the involvement of bookkeepers in financial transactions in relation to the AML/CFT Act.

Sole Traders and Partnerships

Key aspects of customer due diligence when a sole trader or partnership is involved. 

Companies

Key aspects of customer due diligence when a company is involved. 

Clubs and Societies

Key aspects of customer due diligence when a club or society is involved. 

Cooperatives

Key aspects of customer due diligence when a cooperative is involved.

High Value Dealers

What to look out for when carrying out customer due diligence on a high value dealer. 

Acting on Behalf

How to approach customer due diligence when an individual or an entity is acting on behalf. 

User guide: Annual AML/CFT Report

Guidance in completing AML/CFT annual reporting.

AML/CFT Programme Guideline

This guideline is designed to help reporting entities develop their AML/CFT programme.

Complying with AML/CFT verification requirements during COVID-19

This guidance is for reporting entities under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) during COVID-19 Alert Levels.

Guideline for audits of risk assessments and AML/CFT programmes

This guidance assists reporting entities manage the requirement to audit their AML/CFT risk assessment and programme.

Interpreting ‘Ordinary Course of Business’

Clarification of the meaning of the phrase “in the ordinary course of business”.

Designated Business Group Formation

Guideline to reporting entities on eligibility, formation, notification and withdrawal from a designated business group.

Designated Business Group Scope

Guideline to reporting entities to assist the decision on whether to form a designated business group.

Designated Business Group Formation and Change

Guideline to reporting entities on eligibility, formation, notification and withdrawal from a designated business group.

Electronic Identity Verification

To be read in conjunction with the Amended Identity Verification Code of Practice 2013.

Countries Assessment

Information to help reporting entities understand whether they need to assess aspects of another country’s regulatory environment. 

Beneficial Ownership

To assist reporting entities in meeting the requirement to perform customer due diligence on the customer and beneficial owners of the customer.

Wire Transfers

The obligations relating to wire transfers are intended to reflect the Financial Action Taskforce (FATF) approach to wire transfers.

Territorial scope of the AML/CFT Act 2009

To assist businesses to determine whether they have obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.

Enhanced Customer Due Diligence 

To assist reporting entities in carrying out enhanced customer due diligence.

Annual Report Guide – Small Financial Adviser Businesses

A quick FMA guide to help small financial adviser businesses with their annual reports. 

Enhanced Customer Due Diligence 

Specific guidance from the Financial Markets Authority relating to enhanced customer due diligence. 

Class Exemptions

Everything you need to know about the Anti-Money Laundering and
Countering Financing of Terrorism (Class Exemptions) Amendment Notice (No 2) 2015.

Class Exemption – Managing Intermediaries

Information around managing intermediaries and customers of managing intermediaries to be able to rely on the AML/CFT (Class Exemptions) Notice 20181.

Getting The Best Outcome From Your AML/CFT Audit

This information is intended to help reporting entities draw value from their AML/CFT Audit.

Market Operator Obligations – NZX

Findings from the FMA’s targeted review of whether NZX is meeting its licensed market operator obligations.

Monitoring report  (1 July 2016 – 30 June 2018)

The FMA’s findings from monitoring AML/CFT compliance. 

Insurance Business Coverage Guideline

This guide helps businesses that provide insurance to determine whether they have obligations under the AML/CFT Act.

Guideline: Real Estate Agents

Everything you need to know about your compliance obligations as a real estate agent.

Guideline: Lawyers and Conveyancers

What you need to look out for as a Lawyer or Conveyancer under the AML/CFT Act.

Regulatory Findings Report: 2018/2019

Read the summary of the DIA’s regulatory findings (AML/CFT Act) from July 2018 to June 2019.

User Guide: Annual AML/CFT Report by Designated Non-Financial Businesses and Professions

This guide assists reporting entities with completing annual anti-money laundering and countering financing of terrorism (AML/CFT) reports.

Suspicious Activity Reporting Guideline

Information around the policies, procedures and controls for the reporting of suspicious activity by reporting entities.

NZ Police Update: Christchurch Terrorist Attacks

Information around the implications of the raised threat level for reporting entities. 

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