Regulatory Alerts2022-05-17
Anti-money laundering and countering financing of terrorism Risk Assessment Guideline 2018
Issued by New Zealand regulators, this guideline assists reporting entities in conducting mandatory risk assessments under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. It requires businesses to identify and assess inherent money laundering and terrorism financing risks across their nature, products, customers, and jurisdictions to develop a proportionate compliance programme. The document outlines legal obligations including the need for written assessments, biennial independent audits, and the integration of supervisor and Financial Intelligence Unit guidance into risk management strategies.
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