The AML/CFT regime comes into full 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.
FMA is one of three supervisors helping market participants
prepare for full implementation of the Act on 30 June 2013. See
more on the
Role of the supervisors.
See the
list of reporting entities that FMA supervises.
Find out more about how to comply with the obligations under the
Act
here.