Regulatory Alerts2024-05-02
Customer Due Diligence: Companies Guideline - April 2024
New Zealand AML/CFT supervisors issued this guideline to support reporting entities in conducting customer due diligence for company customers under the AML/CFT Act 2009. It mandates the identification and verification of beneficial owners, persons acting on behalf of companies, and nominee arrangements, while outlining simplified, standard, and enhanced CDD requirements based on risk. The document incorporates regulatory updates effective June 2024 that formalize information gathering regarding a company's legal structure, ownership, and control.
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