Who can verify documents NZ AML?
Current bank card issued by a registered bank, embossed with your name and with your signature. Statement issued by a registered bank dated within the last 12 months. SuperGold card showing your name and signature.
What is CDD in NZ?
Customer due diligence (CDD) is a critical element in effective risk management – protecting you and your business against involvement in financial crimes or money laundering. As a result, CDD is an integral part of the New Zealand Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT).
What are the AML requirements?
At a minimum, an AML Program must be in writing and must include:
- Development and maintenance of written policies and procedures, and supervisory controls;
- Reasonably designed to ensure compliance with the BSA and assist a firm in detecting and reporting suspicious activity;
- Designation of a compliance officer;
What is CFT in AML?
Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT)
What is the Anti-Money Laundering Act?
The Act ensures that businesses take appropriate measures to guard against money laundering and terrorism financing. This enhances the reputation of individual businesses, and of New Zealand as a safe place in which to do business. The Act came into full force on 30 June 2013.
What are the regulations for anti money laundering and CFT?
AML/CFT Regulations 1 Definitions Regulations. The Anti-Money Laundering and Countering Financing of Terrorism (Definitions) Regulations 2011 commenced on 28 July 2011. 2 Exemptions Regulations. 3 Requirements and Compliance Regulations. 4 Ministerial Exemption Form Regulations.
When did the anti-money laundering and Countering Financing of terrorism regulations come into force?
The Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Regulations 2011 came into force on 30 June 2013. The Anti-Money Laundering and Countering Financing of Terrorism (Ministerial Exemption Form) Regulations 2011 came into force on 28 July 2011.
What is the AML/CFT Act 2009 NZ?
About the AML/CFT Act. The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) places obligations on New Zealand’s financial institutions, casinos, virtual assets service providers, accountants, lawyers, conveyancers and high value dealers to detect and deter money laundering and terrorism financing.