Anti-money laundering and countering financing of terrorism
The Reserve Bank supervises banks, non-bank deposit takers and life insurers to ensure they meet obligations designed to help deter and detect money laundering and terrorist financing. Money 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.
Read the Anti-Money Laundering and Countering Financing of Terrorism Act
The following sections provide information for banks, non-bank deposit takers, life insurers and other interested parties:
Provides information about the roles of the various agencies involved.
Provides information on the Reserve Bank’s supervisory approach and the regulatory obligations on reporting entities.
Contains information on Codes of Practice, guidance documents and other relevant material issued by the Reserve Bank and others.
Offers answers to commonly asked questions about AML/CFT, as well as background information for the media and others.
If you cannot find an answer to your question, please send an email to [email protected].