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Anti-Money Laundering and Countering Financing of Terrorism Act 2009
AML/CFT requirements and compliance
Customer due diligence
Reliance on third parties
35: Use of information obtained from third party conducting customer due diligence

Part 1:
Preliminary provisions

3Purpose 4Overview 5Interpretation 6Application of this Act to reporting entities 7Amounts not in New Zealand currency 7ATransitional, savings, and related provisions 8Act binds the Crown

Part 2:
AML/CFT requirements and compliance

9Non-compliance not excused by contractual obligations

Customer due diligence

10Definitions 11Customer due diligence 12Reliance on risk assessment when establishing level of risk 13Basis for verifying identity

Suspicious activity reports

39AInterpretation 40Reporting entities to report suspicious activities 41Nature of suspicious activity report 42Privileged communication defined 43Auditors may report suspicious activities 44Protection of persons reporting suspicious activities 45Immunity from liability for disclosure of information relating to money laundering transactions 46Disclosure of information relating to suspicious activity reports 47Disclosure of information in proceedings 48Disclosure of personal information relating to employees or senior managers

Prescribed transaction reports

48AReporting entities to report certain prescribed transactions 48BPrescribed transaction reports 48CSections 43 to 48 apply to prescribed transactions

Record keeping

49Obligation to keep transaction records 49AObligation to keep reports of suspicious activities 50Obligation to keep identity and verification records 51Obligation to keep other records 52How records to be kept 53When records need not be kept 54Destruction of records 55Other laws not affected

Compliance with AML/CFT requirements

56Reporting entity must have AML/CFT programme and AML/CFT compliance officer 57Minimum requirements for AML/CFT programmes 58Risk assessment 59Review and audit of risk assessment and AML/CFT programmes 59AAudit of compliance with AML/CFT obligations 59BWho carries out audit 60Annual AML/CFT report 61Reporting entities to ensure that branches and subsidiaries comply with AML/CFT requirements

Codes of practice

62Interpretation 63AML/CFT supervisors to prepare codes of practice for relevant sectors 64Procedure for approval and publication of codes of practice 65Amendment and revocation of codes of practice 66Proof of codes of practice 67Legal effect of codes of practice

Cash transactions above applicable threshold value

67AProhibition on certain cash transactions

Cross-border transportation of cash

68Reports about movement of cash into or out of New Zealand 69Reports about receipt of cash from outside New Zealand 70Reporting requirements 71Information to be forwarded to Commissioner

Part 3:
Enforcement

General provisions relating to Part

Proceedings for civil penalties

72When and how civil penalty proceedings brought

Relationship between civil penalty and criminal proceedings

73Relationship between concurrent civil penalty proceedings and criminal proceedings 74One penalty only rule 75Restriction on use of evidence given in civil penalty proceedings

Immunities

76Protection for AML/CFT supervisors 77Protection for reporting entities, officers, etc, acting in compliance with this Act

Civil liability

78Meaning of civil liability act 79Possible responses to civil liability act

Formal warnings

80Formal warnings

Enforceable undertakings

81Enforceable undertakings 82Enforcement of undertakings 83Assessment of compensation for breach of undertakings

Injunctions

84Powers of High Court not affected 85Performance injunctions 86When High Court may grant performance injunctions 87Restraining injunctions 88When High Court may grant restraining injunctions and interim injunctions 89Undertaking as to damages not required by AML/CFT supervisor

Pecuniary penalties

90Pecuniary penalties for civil liability act

Offences

Offence and penalties relating to civil liability act

91Offence and penalties for civil liability act

Offences relating to suspicious activity reports and prescribed transaction reports

92Failing to report suspicious activity 93Providing false or misleading information in connection with suspicious activity reports or prescribed transaction reports 94Unlawful disclosure of suspicious activity reports or prescribed transaction reports 95Failure to keep or retain adequate records relating to suspicious activities or prescribed transactions 96Obstruction of investigation relating to suspicious activity reports or prescribed transaction reports 97Contravention of section 47(1) or 48A(1)98Defence 99Time limit for prosecution of offences relating to civil liability act and suspicious activity reports or prescribed transaction reports 100Penalties

Other offences relating to non-compliance with AML/CFT requirements

101Structuring transaction to avoid application of AML/CFT requirements 102Offence to obstruct AML/CFT supervisor 103Offence to provide false or misleading information to AML/CFT supervisor 104Time limit for prosecution of offences relating to non-compliance with AML/CFT requirements 105Penalties

Offence relating to cash transactions

105AContravention of section 67A

Offences relating to cross-border transportation of cash

106Failure to report cash equal to or above applicable threshold value moved into or out of New Zealand 107Failure to report cash equal to or above applicable threshold value received by person in New Zealand from overseas 108Structuring cross-border transportation to avoid application of AML/CFT requirements 109Defence 110Providing false or misleading information in connection with cash report 111Offence to obstruct or not to answer questions from Customs officer 112Penalties 113Chief executive of New Zealand Customs Service may deal with cash reporting offences

Relationship with Customs and Excise Act 2018

114Relationship with Customs and Excise Act 2018

Stored value instrument searches by Customs officer

115Duty to assist Customs officer to access stored value instruments

Search and seizure

116Definitions

Search warrants

117Search warrant 118Powers under search warrant

Conduct of entry, search, and seizure

119Assistance with searches 120Enforcement officers to show identity card on request 121Announcement before entry 122Details of warrant to be given to occupier 123Occupier entitled to be present during search 124Use of electronic equipment 125Copies of documents seized to be provided 126Receipts for things seized 127Application of sections 198A and 198B of Summary Proceedings Act 1957

Return and retention of things seized

128Return and retention of things seized 129Order to retain things seized

Part 4:
Institutional arrangements and miscellaneous provisions

Institutional arrangements

AML/CFT supervisors

130AML/CFT supervisors 131Functions 132Powers 133Matters relating to conduct of on-site inspections 134Delegation of supervisory function and powers 135Authority to act as delegate 136Effect of delegation

Use and disclosure of information

137Power to use information obtained as AML/CFT supervisor in other capacity and vice versa 138Restriction on power to use information under section 137 139Power to disclose information 139ARegulations relating to information sharing 140Power to use and disclose information supplied or obtained under other enactments for AML/CFT purposes 141Enforcement officers

Financial intelligence functions of Commissioner

142Financial intelligence functions of Commissioner 143Powers relating to financial intelligence functions of Commissioner 144Delegation of powers of Commissioner 145Guidelines relating to reporting of suspicious activities 146Consultation on proposed guidelines 147Availability of guidelines 148Review of guidelines

Co-ordination

149Role of Ministry 150AML/CFT co-ordination committee 151Role of AML/CFT co-ordination committee 152Functions

Miscellaneous provisions

Regulations

153Regulations 154Regulations relating to application of Act 155Regulations relating to countermeasures 156Consultation not required for consolidation of certain regulations and minor amendments

Review provision

156AReview of operation of Act

Ministerial exemptions

157Minister may grant exemptions 158Minister must consult before granting exemption 159Requirements relating to exemptions

Resolution of disputes about privilege

159AProcedure for testing assertions that document privileged

Transitional and savings provisions

160Transitional and savings provisions

Consequential amendments, repeals, and revocation

161Amendments to other enactments 162Amendment to Financial Transactions Reporting Act 1996 consequential on bringing into force of Part 2 163Amendment to Financial Transactions Reporting Act 1996 relating to cross-border transportation of cash

Schedule 1:
Transitional savings, and related provisions

Schedule 2:
Consequential amendments

Anti-Money Laundering and Countering Financing of Terrorism Act 2009

AML/CFT requirements and compliance - Customer due diligence - Reliance on third parties

35: Use of information obtained from third party conducting customer due diligence

You could also call this:

"Using info from others to check customers and follow the law"

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

You can use information from a third party who checks customers to follow the law. This information can only be used to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act and its regulations. You can find more about this in sections 32 to 34.

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This page was last updated on 4 December 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2140882.

Topics:

Money and consumer rights > Banking and loansCrime and justice > Criminal law

34: Reliance on agents, or

"Letting someone else help with checking customers"

36: Protection of personal information and designated business groups, or

"Keeping Personal Info Safe When Sharing with Businesses"

Part 2AML/CFT requirements and compliance
Customer due diligence: Reliance on third parties

35Use of information obtained from third party conducting customer due diligence

Information obtained by a third party conducting customer due diligence under sections 32 to 34 for a reporting entity may only be used by that third party for the purpose of complying with this Act and regulations.