Anti-Money Laundering and Countering Financing of Terrorism (“AML”)
laundering is the way criminals disguise the illegal origins of their money.
Financers of terrorism use similar techniques to try and avoid detection by
authorities and to protect the identity of those providing and receiving money
for funding acts of terrorism.
Under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, the Reserve Bank is one of three supervisors tasked with ensuring firms comply with new obligations designed to help deter and detect money laundering and terrorist financing.
The following sections provide information for banks, non-bank deposit takers, life insurers and other interested parties on the AML regime:
- AML legislation
Contains information about the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) and relevant regulations.
- Who is your AML
Provides information about the roles of the various agencies involved in the AML regime.
- What are firms required to do under AML
Provides information on the RBNZ’s supervisory approach and on firms’ regulatory obligations.
- AML guidance and publications
Contains information on Codes of Practice, guidance documents and other relevant material issued by the RBNZ and others.
- Questions and
Offers answers to commonly asked questions about AML, as well as background information for the media and others. If you cannot find an answer to your question please send an email to firstname.lastname@example.org.
21 February 2013 – Cabinet has approved the content of the 2013 AML/CFT Regulations. Read more about these requirements (PDF 249KB), which will take full effect on 30 June 2013.
8 February 2013 - Read about Correspondent Banking relationships on our updated Q&A page.
21 December 2012 - Read the Beneficial ownership guideline (PDF 211KB).
21 December 2012 - Read the Territoriality guideline (PDF 90KB).
13 December 2012 - Read the Audit guideline (PDF 159KB).
12 December 2012 - New information has been published by the NZ Police Financial Intelligence Unit
Sign up to receive email notification when the AML website is updated.