Latest News [index] Anti-money laundering and countering financial terrorism
If you are in a business that involves dealing with money for or on behalf of your customers you may be a financial institution for the purposes of the Anti-money Laundering and Countering Financial Terrorism Act 2009 (the AML/CFT Act).
If the AML/CFT Act applies to you, you must have your AML/CFT compliance program in place by June of next year.
As the definition of financial institution is very broad for the purposes of the AML/CFT Act care is required to carefully assess your obligations under the AML/CFT Act.
Please contact a member of the Ayres Legal team if you have any questions about the AML/CFT Act.
If you are a financial adviser the following may assist:
http://www.fma.govt.nz/media/538976/aml_guide_for_fas__8_nov_.pdf