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Anti-Money Laundering and Countering Financing of Terrorism Act 2009

AML/CFT requirements and compliance - Suspicious activity reports

40: Reporting entities to report suspicious activities

You could also call this:

"Tell the authorities if you think something suspicious is happening"

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

You are a reporting entity, which means you have to follow some rules. If you think something suspicious is happening, you must tell the Commissioner. You have to do this as soon as you can, but no later than 3 working days. You do this by following the rules in section 41. If you are a law firm, you also have to tell the Commissioner, but you have 5 working days. You do not have to tell the Commissioner anything that you think is a private conversation between you and your client.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2140892.

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Part 2AML/CFT requirements and compliance
Suspicious activity reports

40Reporting entities to report suspicious activities

  1. A reporting entity other than a high-value dealer or law firm must, as soon as practicable but no later than 3 working days after forming its suspicion, report the activity, or suspicious activity, to the Commissioner in accordance with section 41.

  2. A law firm must, as soon as practicable, but no later than 5 working days after forming its suspicion, report the activity or suspicious activity to the Commissioner in accordance with section 41.

  3. Despite subsection (2), a law firm is not required to disclose any information that the law firm believes on reasonable grounds is a privileged communication.

  4. A high-value dealer may report a suspicious activity to the Commissioner.

Notes
  • Section 40: replaced, on , by section 12 of the Statutes Amendment Act 2025 (2025 No 74).