Regulatory Alerts2022-05-17
AML Wire Transfer Guidance Final August 2013
New Zealand regulators issued this guidance to clarify wire transfer obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. The document mandates that reporting entities implement enhanced customer due diligence and ensure specific Originator and Beneficiary information accompanies transfers exceeding $1,000. It details distinct compliance responsibilities for Ordering, Intermediary, and Beneficiary institutions to maintain transaction transparency and prevent money laundering.
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