2022-05-17

Designated Business Group Scope Guideline

This guideline issued by New Zealand AML/CFT supervisors clarifies how reporting entities may share specific anti-money laundering obligations within a Designated Business Group under the AML/CFT Act 2009. It details permissible sharing of customer due diligence, risk assessments, and reporting while emphasizing that ultimate liability for compliance remains with each individual entity. The document outlines strict conditions for shared programs, privacy requirements for personal information, and obligations that cannot be delegated, such as maintaining a designated compliance officer.

New Zealand

Reserve Bank of New Zealand

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