Travelex Financial Services Limited New Zealand

Date Made

Date signed: 2025-11-28

Sectors

Currency exchangers

Enacting statement

In accordance with section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“Act”), the Associate Minister of Justice hereby gives notice that she has granted the following exemption from the Act:  

Ministerial exemption: Travelex Financial Services Limited New Zealand

Commencement date

This exemption comes into force on 2025-11-28

End date

This exemption will expire on 2030-11-28

Exemption

As the Associate Minister of Justice, and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, I exempt Travelex Financial Services Limited New Zealand (“Travelex NZ”) from Regulation 7(2) of the Anti-Money Laundering and Countering Financing of Terrorism (Cross-border Transportation of Cash) Regulations 2010 (“Regulations”). 

Conditions

This exemption is made subject to the following conditions: 

1. 1. Travelex NZ must submit border cash reports 24 hours prior to import and export of cash, including unaccompanied cash; 
   2. Travelex NZ must be listed as the importer/exporter on both the Customs Entry and on the Border Cash Report. No other name is acceptable; and
   3. Travelex NZ must inform the Ministry of Justice of any changes that may affect the exemption within 10 days of when the change occurs.

Statement of reasons

The exemption has been granted because the risks of money laundering and terrorism financing (ML/TF) associated with Travelex NZ are considered to be low for the following reasons: 

1. 1. The limited scope of the exemption is unlikely to increase Travelex NZ’s vulnerability to money laundering or terrorist financing. 
   2. Travelex NZ is still required to submit border cash reports for any imported or exported (including unaccompanied) cash. 
   3. Without this exemption, Travelex NZ would not have any practical means of compliance with sections 68(b) and 70(d)(ii) of the AML/CFT Act. 
   4. A total accurate report will be provided in a timely manner. 

Contact

Any person wishing to provide comment on this notice should contact the AML/CFT Team at the Ministry of Justice by emailing amlcft.exemptions@justice.govt.nz.