This page explains some of the obligations reporting entities (including banks, non-bank deposit takers and some life insurers) need to comply with under the Anti-Money and Countering Financing of Terrorism Act 2009 (AML/CFT Act).
Reporting entities' obligations
For banks, life insurers and non-bank deposit takers, their obligations include:
Our approach to supervision
Step 1: complete a risk assessment
Step 2: develop an AML/CFT programme
Designated business groups
Step 3: Annual reporting
The AML/CFT Act requires banks, life insurers and non-bank deposit takers to submit an AML/CFT annual report using our supplied report template (see below).
The Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Amendment Regulations prescribe the form and content of the annual report.
Note: some browsers may attempt to open the template rather than download it, leading to an error message. Please ensure you download the template before trying to open it.
Do not upload handwritten, scanned or signed forms. Include your unique code on the last page in place of a signature. Return your forms to us in typed PDF format. We have emailed instructions on how to submit completed forms to your AML Compliance Officer. If you have not received the instructions, email us as soon as possible at [email protected]
We have recently updated the annual report user guide to reflect the 2018 amendments to Schedule 2 of the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Regulations 2011.
Reporting suspicious activity
The role of the New Zealand Police Financial Intelligence Unit (FIU) is to receive and analyse suspicious activity reports (SARs) and publish the National Risk Assessment as well as other guidance material.
You must report all suspicious activities and transactions to the FIU via its internet platform ‘goAML’. You will need to first register for a username on the website.
Once logged into goAML, you can access several relevant documents including:
- user instructions on how to correctly submit an SAR report or an additional information file
- the security features of goAML.
The FIU has published a suspicious activity reporting guideline to help you comply with suspicious activity reporting obligations from 1 July 2018.
You can access more guidance and e-learning training by choosing the ‘?’ icon on the blue task bar on the FIU web page. You can also find out how to register a new entity or a new user for an existing entity. The New Zealand Police website also has the goAML schema, which may be updated from time to time.
Overview of non-bank deposit takers regime
This page explains the role of non-bank deposit takers in the finance system. It details their obligations under the Non-bank Deposit Takers Act 2013 (the NBDT Act), including the role of trustees and trust supervisors as well as the various founding documents.
How we enforce regulations
This section provides information on how we use our enforcement function to ensure the entities we regulate comply with regulations. Find out how to report misconduct of a regulate entity, how to identify businesses we regulate and learn about restrictions on use of the words 'bank' and 'insurance'.