Our AML/CFT SRA 2017 is an important document that provides general information and specific examples to assist reporting entities (REs) in the nine sectors we supervise for anti-money laundering and counter-financing of terrorism (AML/CFT). It will assist REs to prepare and review their individual assessments of the risks of AML/CFT under sections 58 and 59 of the AML/CFT Act.
We expect reporting entities to use our SRA 2017 as a guide when they prepare and implement their individual AML/CFT programmes.
The SRA 2017 is also intended to inform and assist others involved in AML policy-making and supervision, both in New Zealand and overseas.
The SRA 2017 risk rates each sector we supervise. It considers information from the FIU’s National Risk Assessment, the Reserve Bank and the Department of Internal Affairs SRA’s, as well as international and national guidance.
It also communicates and identifies our expectations about the awareness and management of any potential risks of money-laundering and terror financing; and replaces the SRA 2011.
The assessments made in the SRA 2017 only relate to risks relating to money laundering and terrorism financing. They do not reflect the financial soundness of the nine sectors we supervise, or individual reporting entities.