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Anti-Money Laundering and Countering Financing of Terrorism Act 2009

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

19: Simplified customer due diligence: identity requirements

You could also call this:

"What info businesses need to know about you to follow the rules"

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

When you are acting on behalf of a customer, the business you are dealing with must get some information from you. They need to know your full name and your date of birth. They also need to know how you are related to the customer. They must get this information to follow the rules. They may also need to get other information that is prescribed by regulations. This is to help keep track of who is doing what.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2140858.

Topics:
Money and consumer rights > Consumer protectionBusiness > Industry rules
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18: Circumstances when simplified customer due diligence applies, or

"When you can do simpler checks on customers"

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20: Simplified customer due diligence: verification of identity requirements, or

"Checking who you are when dealing with a company"

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

19Simplified customer due diligence: identity requirements

  1. A reporting entity must obtain the following identity information in relation to a person acting on behalf of the customer:

  2. the person's full name; and
    1. the person's date of birth; and
      1. the person's relationship to the customer; and
        1. any information prescribed by regulations.