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1. Consultation launched to inform new anti-money laundering laws

   ...upcoming changes to anti-money laundering law to have their say on the proposed reforms. The Ministry has issued a consultation document as part of the Government’s move to extend the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) to more businesses and professions. “We want to make sure our anti-money laundering laws are effective, while minimising the impact on businesses,” says Rajesh Chhana, Deputy Secretary Policy. “Money laundering and terrorist...

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2. Exemption order First State Investment NZ Limited [pdf, 27 KB]

   Ministerial Exemption: First State Investment (NZ) Limited 1 As the Minister of Justice and pursuant to section 157 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (‘the Act’), I exempt First State Investment (NZ) Limited (FSINZL) from section 56(2) of the Act in so far as the AML/CFT compliance officer must be an employee of the reporting entity. The exemption is made in this case to allow the AML/CFT compliance officer to be an employee of an Aus...

3. Anti-Money-Laundering-and-Countering-Financing-of-Terrorism-Definitions-Amendment-Regulations-2023.pdf [pdf, 1 MB]

   ...Financing of Terrorism (Definitions) Amendment Regulations 2023; and authorising those regulations for submission to the Executive Council. Policy on gang harm intervention 3 The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the AML/CFT Act) is a risk-based regime that detects and deters money laundering and terrorism financing and implements relevant international obligations. 4 In July 2022, in response to criminal activities and harms caused by gangs, Cabinet...

4. AML/CFT Statutory Review - summary of submissions [pdf, 1.2 MB]

   Review of the AML/CFT Act Summary of submissions Ministry of Justice March 2022 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 constr...

5. Regulatory Systems Amendment Bill [pdf, 218 KB]

   1 REGULATORY SYSTEMS (JUSTICE) AMENDMENT BILL Complete list of substantive amendments Regulatory Systems (Courts) Amendment Bill No. Act Amendment Expected Impacts 1. Bail Act 2000 Remove the powers of Registrars to make decisions on bail in cases involving family violence offences. Reduce the risk of negatively impacting victim safety by ensuring they are family violence bail decisions are made by sufficiently experienced judicial officers. 2. Care of Children...

6. AML/CFT ministerial exemptions

   The Minister of Justice can decide to grant an exemption from coverage by the AML/CFT Act under certain circumstances. For example, if a business faces low money laundering risks it may not be required to meet some or all of the usual requirements. A business that believes it may be exempt will need to make an application for an exemption. Exemptions can be given to specific businesses or types of businesses, and for specific activities and types of activities. Before applying, you should check...

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7. 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...

8. 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...

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9. 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...

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   2. Have your say

10. OIA-Anti-money Laundering and Countering the Financing of Terrorism Act [pdf, 196 KB]

    ...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 be impacted on when opening bank accounts. 2. In addition, provide the documented process...