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1. How to apply for an AML/CFT ministerial exemption

   ...rejected. If it is, you may resubmit an application with more detail. However, you'll have to wait longer for a decision, so try to ensure you provide all the necessary information first time round. While preparing your application, you should consider the AML/CFT Act and information provided by government agencies about the risks your sector faces. Material about sector risks is available from the government agency that supervises your sector. For information about the supervisors, see AML/CF...

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   5. AML/CFT ministerial exemptions

2. BORA Regulatory Systems (Justice) Amendment Bill package [pdf, 267 KB]

   ...authorities, by the Regulatory Systems (Courts) Amendment Bill (PCO 26707/9.0) (Courts Bill) and Regulatory Systems (Tribunals) Amendment Bill (PCO 26227/3.6) (Tribunals Bill); 2.2 the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act), by the Anti-Money Laundering and Countering Financing of Terrorism Amendment Bill (PCO 26789/3.6) (AML/CFT Bill); and 2.3 occupational regulation regimes covering lawyers and conveyancers, sex work and real estate services b...

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

   ...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 Australian entity that is a member of the Commonwealth Bank of Australia g...

5. Draft Cost Benefit Analysis: AML Phase II [pdf, 296 KB]

   1 | CBAx, AML Phase II, Ministry of Justice, October 2016 Draft Cost Benefit Analysis: AML Phase II Section A Descriptive Information Problem Definition The Phase I anti-money laundering regime came into force in 2013, which covered banks, insurance companies, financial services (e.g. investment advisers), money remitters and casinos. There is now a proposal to extend the scope AML legislation to cover additional sectors, to bring NZ in line with its FATF obligations. The...

6. Draft Cost Benefit Analysis: AML Phase II [pdf, 281 KB]

   1 | CBAx, AML Phase II, Ministry of Justice, October 2016 Draft Cost Benefit Analysis: AML Phase II Section A Descriptive Information Problem Definition The Phase I anti-money laundering regime came into force in 2013, which covered banks, insurance companies, financial services (e.g. investment advisers), money remitters and casinos. There is now a proposal to extend the scope AML legislation to cover additional sectors, to bring NZ in line with its FATF obligations. The...

7. 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...

8. 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...

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

   ...operational name. 52. Permitting the Authority to prescribe certain forms and information requirements by notice, including application for licence, issue of licence, objections to issue of licence, renewal of licence, and temporary licence. Streamline administrative changes implemented by the Authority, rather than requiring a regulations- making process. 53. Expand the definition of behaviour that can be considered “unsatisfactory conduct” by removing the reference t...

10. 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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    1. Justice sector & policy >
    2. Key initiatives >
    3. Tackling money laundering and terrorist financing >
    4. Information for businesses