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1. Businesses that provide trust and company services

   Criminals often use trusts and companies to launder money. Legitimate businesses that provide trust and company services may be affected by changes to the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act. To help trust and company service providers understand the risks they face and build their compliance programmes, helpful guidance is available on the Department of Internal Affairs website. See the Codes of practice and guidance and the sector risk assessment...

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   4. Information for businesses

2. Terms of Reference for Stat Review Final [pdf, 115 KB]

   Review of New Zealand’s AML/CFT Framework Terms of Reference 1. Background The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the AML/CFT Act) forms a significant part of New Zealand’s framework to combat money laundering, terrorism financing, and otherwise keep illicit funds out of the economy. The purposes of the Act are to: • detect and deter money laundering and terrorism financing; • to maintain and enhance New Zealand’s inter...

3. Information for businesses

   New law changes are bringing in “Phase 2” of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act. The changes extend the AML/CFT Act to cover more businesses including real estate agents and conveyancers; many lawyers and accountants; some businesses that deal in expensive goods; and betting on sports and racing. Some of the changes also affect Phase 1 businesses that have had to comply with the Act since 2013 (that is, banks, casinos, a range of financial service p...

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   3. Tackling money laundering and terrorist financing

4. Russell Investment Group Limited [pdf, 82 KB]

   Ministerial Exemptions Under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 In accordance with section 157(6)(b) of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“Act”), the Associate Minister of Justice gave notice on 6 April 2020 that he has granted the following exemption from the Act: Ministerial Exemption: Russell Investment Group Limited Exempting Russell Investment Group Limited (RIGL) from the requirement in sectio...

5. BORA Anti-Money Laundering and Countering Financing of Terrorism Bill [pdf, 313 KB]

   ...(PCO12951/9.0) for consistency with the New Zealand Bill of Rights Act 1990. 2. According to the explanatory note the purpose of the Bill is to enhance New Zealand's framework for anti-money laundering measures and countering the financing of terrorism (AML/CFT) so as to progress compliance with the Financial Action Task Forces (FATF) recommendations. The Bill aims to improve the detection and deterrence of money– laundering and the financing of terrorism, thereby enhancing our inte...

6. Tackling money laundering and terrorist financing

   ...Laundering laws.  To improve New Zealand’s ability to tackle money laundering and terrorism financing, the Government has made law changes that affect various businesses and professions. The Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Amendment Act 2017 puts in place "Phase 2" of New Zealand's AML/CFT laws. The new laws: extend the current AML/CFT Act to cover more businesses (including real estate agents and conveyancers; many lawyers and accountants; some bus...

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   2. Key initiatives

7. Proactive release – Criminal Activity Intervention Legislation Bill [pdf, 15 MB]

   ...and Justice have not identified any comparable jurisdiction in the world that has enacted any such offence. Preventing criminal cash from being converted to high value goods or introduced to the financial system 18. The statutory review of the AML/CFT Act has identified a number of options that would make it harder for gangs to enjoy cash proceeds or get them into the financial system. The Ministry of Justice will make recommendations to the Minister of Justice on 30 June relating to:...

8. BORA Anti-Money Laundering and Countering Financing of Terrorism Amendment Bill [pdf, 192 KB]

   BORA-AML-AMENDMENT-BILL.DOC 3 March 2017 Attorney-General Anti-Money Laundering and Countering Financing of Terrorism Amendment Bill Our Ref: ATT395/264 1. We have reviewed the Anti-Money Laundering and Countering Financing of Terrorism Amendment Bill (Bill). We advise it appears to be consistent with the rights and freedoms in the New Zealand Bill of Rights Act 1990 (Bill of Rights Act). 2. We understand that the version of the Bill we have reviewed (copy attached) is int...

9. OIA-98200.pdf [pdf, 247 KB]

   Justice Centre | 19 Aitken Street DX SX10088 | Wellington T 04 918 8800 | F 04 918 8820 contactus@justice.govt.nz | www.justice.govt.nz 31 August 2022 Our ref: OIA 98200 Tēnā koe Official Information Act request: Strategic review of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the AML/CFT Act) Thank you for your email of 8 August 2022, requesting, under the Official Information Act 1982 (the Act), information relating to the strat...

10. Proactive release - Setting the strategic direction for New Zealand's Anti-Money Laundering and Countering Financing of Terrorism Regime [pdf, 1.4 MB]

    © Crown Copyright, Creative Commons Attribution 4.0 International (CC BY 4.0) Hon Andrew Little Minister of Justice Proactive release – Setting the strategic direction for New Zealand’s Anti-Money Laundering and Countering the Financing of Terrorism Regime Date of issue: 9 December 2019 The following documents have been proactively released in accordance with Cabinet Office Circular CO (18) 4. Some information has been withheld on the basis that it would not, if requested un