Regulatory Alerts2022-10-12
AML/CFT Programme Guideline
Issued by New Zealand AML/CFT supervisors, this guideline assists reporting entities in developing and implementing anti-money laundering and countering financing of terrorism programmes under the AML/CFT Act 2009. It mandates that programmes be risk-based, grounded in a formal risk assessment, and include specific minimum requirements such as vetting, training, and customer due diligence. The document clarifies that while following the guideline is not mandatory, entities must maintain adequate and effective controls, undergo independent audits every three years, and submit annual reports to their supervisors.
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