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1. Exemption order Snap-On Tools [pdf, 29 KB]

   ...Regulations 2011. 3. This exemption is subject to the following condition: (a) If the business activities of Snap-on and Snap-on NZ change in a material way, in that it is required to carry out further activities which fall within the ambit of the AML/CFT Act, Snap-on and Snap-on NZ are required to notify the Ministry of Justice and the Department of Internal Affairs and undertake to work with those bodies to agree how to manage any risks. 4. This exemption comes into force on the...

2. Keep our money clean: Case study factsheet [pdf, 5.8 MB]

   ...them to deposit the cash from the loan into their lawyer’s trust account and to hold the funds on behalf of the shell company. The drug dealers had effectively involved two lawyers in a money laundering scheme which was structured to avoid AML/CFT controls in the banking sector. The funds appeared to be legitimate and seemed to have come from offshore. A man deposited the total purchase price for a house, in cash, with his lawyers well before the sale price was agreed. Th...

3. Documents relating to the Anti-Money Laundering and Countering Financing of Terrorism (Cross-border Transportation of Cash) Amendment Regulations 2022 [pdf, 1 MB]

   ...border Transportation of Cash) Amendment Regulations 2022 relate to the ahgqozkok9 2022-08-17 15:33:20 s9(2)(h) RE LE AS ED B Y TH E MIN IS TE R OF JU ST IC E I N C O N F I D E N C E 3 I N C O N F I D E N C E application of the AML/CFT Act and are made pursuant to sections 70 and 153 of the AML/CFT Act. Regulations Review Committee 12. I do not consider there are any grounds for the Regulations Review Committee to draw the regulations to the attention of the House...

4. 27-Sept-2022-Redacted-SAR-for-publication-suggested-redactions2.pdf [pdf, 5.6 MB]

   ...risks in the high-value dealers sector. 4 This data may be impacted by a range of factors, including the difficulties in identifying offenders, whether the offence occurs in the context of a gang convoy. 5 The current definition of cash in the AML/CFT Act includes both physical currency and bearer negotiable instruments (e.g. cheques and bearer bonds); this definition would be used as a starting point with the intent of expanding it to include gold bars and ingots. s6(c) RE LE...

5. Information for customers and the public

   ...to violent causes and to disguise who is providing and receiving the money. For more information, see: What is money laundering and terrorist financing? Back to top Who does this affect? The Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act covers a wide range of businesses. Banks, casinos and other financial providers have been subject to the Act since 2013 and in 2017 it was extended to include real estate agents and conveyancers; many lawyers and accountants; some hig...

   Located in:

   1. Justice sector & policy >
   2. Key initiatives >
   3. Tackling money laundering and terrorist financing

6. Regulatory Impact Assessments

   ...men’s Rugby World Cup 2023 Analysis produced for the purpose of informing Cabinet decision on options to extend licensed trading hours for the men’s Rugby World Cup 2023. Extending trading hours for the Rugby World Cup 2023 Regulatory Impact Statement: AML/CFT Early Regulatory Proposals The Ministry of Justice (the Ministry) has reviewed the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act (the AML/CFT Act) to assess how the AML/CFT Act has performed...

   Located in:

   1. Justice sector & policy >
   2. Regulatory stewardship

7. [2020] NZEmpC 60 Noble v Ballooning Canterbury.com Ltd [pdf, 298 KB]

   ...by BCL against GRL and/or counsel, that they be joined as parties for cost purposes. [4] Each of these applications are opposed. First application: declaration for withdrawal [5] There are no specific provisions in the Employment Relations Act 2000 (the Act), or the Employment Court Regulations 2000 (the Regulations), which deal with declarations for withdrawal. Accordingly, the High Court Rules (HCR) apply via reg 6 of the Regulations. [6] Rules 5.40 and 5.41 of the HCR re...

8. AMLCFT Stat Review Factsheet [pdf, 1.7 MB]

   ...the best they can be? In July, the Government asked the Ministry of Justice to review our anti-money laundering laws. This review allows us to ask ourselves: have we got this right? The Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 keeps New Zealand safe from money laundering and terrorism financing. By making it harder for criminals to launder money or finance terrorism, we also make profit-motivated crime, like selling drugs or defrauding people, less...

9. Cost Benefit Analysis: AML Phase 2 [pdf, 105 KB]

   ...situation, New Zealand can be targeted by international criminal networks as a global weak link to inject the proceeds of crime into the international financial system. • New Zealand has an anti-money laundering and countering financing of terrorism (AML/CFT) regime – but the regime is not appropriate to the level of risk. High risk sectors such as lawyers, real estate agents, accountants, and dealers in high value goods are not required to comply with the AML/CFT obligations. The sect...

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

    ...situation, New Zealand can be targeted by international criminal networks as a global weak link to inject the proceeds of crime into the international financial system.  New Zealand has an anti-money laundering and countering financing of terrorism (AML/CFT) regime – but the regime is not appropriate to the level of risk. High risk sectors such as lawyers, real estate agents, accountants, and dealers in high value goods are not required to comply with the AML/CFT obligations. The s...