Money laundering and terrorism financing are a significant and growing risk to many financial organisations and money launderers will go to great lengths to ensure that their transactions are indistinguishable from legitimate transactions.
The Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act) seeks to detect and deter money laundering and terrorism financing, to contribute to public confidence in New Zealand’s financial system, and to bring New Zealand into line with the international standards for AML/CFT frameworks. New Zealand was one of the last countries in the developed world to introduce AML/CFT legislation. Therefore, there is the opportunity to leverage off the experience and skills of countries that have developed the processes to ensure compliance.
Sophie Grace is well versed with AML/CFT programs having worked with several financial institutions to implement a similar regime in Australia. With skills in AML/CFT, risk identification and compliance framework design, clients are given confidence that their AML/CFT needs are not only met but are effective and efficient.
For more information, please refer to the following pages:
- Do I need to comply?
- What do I need to do?
- Ongoing Requirements
- Procedural Documentation
- External Compliance Review
To enhance your compliance and legal procedures, whilst controlling the cost of compliance for your business, please contact us.