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Anti-Money Laundering and Countering Financing of Terrorism Act 2009

AML/CFT requirements and compliance - Customer due diligence - Standard customer due diligence

15: Standard customer due diligence: identity requirements

You could also call this:

"Knowing Who You Are: Checking Identities to Stop Money Laundering"

Illustration for Anti-Money Laundering and Countering Financing of Terrorism Act 2009

When you deal with a company that has to follow the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, they need to know some things about you. They must find out your full name, date of birth, and address. If you are not the customer, they need to know how you are related to the customer. They also need to know your company identifier or registration number, if you have one. You can find out more about who this applies to in section 11(1). They may need to know some other things about you, as decided by regulations.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2140853.

Topics:
Money and consumer rights > Banking and loansCrime and justice > Criminal law
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14: Circumstances when standard customer due diligence applies, or

"When to check customers carefully to prevent money laundering"

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16: Standard customer due diligence: verification of identity requirements, or

"Companies must check your identity before doing business with you"

Part 2AML/CFT requirements and compliance
Customer due diligence: Standard customer due diligence

15Standard customer due diligence: identity requirements

  1. A reporting entity must obtain the following identity information in relation to the persons referred to in section 11(1):

  2. the person's full name; and
    1. the person's date of birth; and
      1. if the person is not the customer, the person's relationship to the customer; and
        1. the person's address or registered office; and
          1. the person's company identifier or registration number; and
            1. any information prescribed by regulations.