Regulatory Alerts2022-05-17
Customer Due Diligence – Companies
The New Zealand Financial Intelligence Unit issues this fact sheet to outline Customer Due Diligence requirements for companies under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. Regulated entities must verify the identity of the company, its beneficial owners, and persons acting on its behalf using information from reliable and independent sources. The guidance distinguishes between simplified, standard, and enhanced due diligence procedures based on the company's structure and associated money laundering risks.
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