Anti-Money Laundering and Countering Financing of Terrorism
The AML/CFT regime came into effect on 30 June 2013.
Money laundering is how criminals disguise the illegal origins of their money. Financers of terrorism use similar techniques to money launderers to avoid detection by authorities and to protect the identity of those providing and receiving the funds.
The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 and its Regulations place obligations on New Zealand's financial institutions and casinos to detect and deter money laundering and terrorism financing.
Find out more about how to comply with the obligations under the Act here.