Regulatory Alerts2022-05-17
Countries Assessment Guideline
The New Zealand AML/CFT supervisor issues this guideline to help regulated entities determine when and how to assess the regulatory environments of foreign countries under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. It outlines specific circumstances requiring assessments, such as establishing correspondent banking relationships or relying on overseas third parties, and details the factors to consider regarding a country's AML/CFT systems and supervisory regimes. The document further instructs businesses on conducting enhanced due diligence for high-risk jurisdictions and provides a comprehensive list of international resources to support these compliance obligations.
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