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Anti-Money Laundering and Countering Financing of Terrorism Act 2009

AML/CFT requirements and compliance - Compliance with AML/CFT requirements

60: Annual AML/CFT report

You could also call this:

"Send a yearly report on your plan to stop money laundering and terrorism funding"

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

You have to prepare an annual report about your risk assessment and AML/CFT programme. Your annual report must be in a special form and include the results of an audit, as required by section 59(2). You also have to add any other information that the regulations say you must include. You have to give your annual report to your AML/CFT supervisor at the time they choose. Your AML/CFT supervisor will tell you when they need the report, and they must give you fair warning. You need to follow these rules to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2140918.

Topics:
Money and consumer rights > Consumer protectionCrime and justice > Criminal law
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59B: Who carries out audit, or

"Who does the independent check of the money laundering rules?"

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61: Reporting entities to ensure that branches and subsidiaries comply with AML/CFT requirements, or

"Make sure your overseas branches follow New Zealand's money laundering rules"

Part 2AML/CFT requirements and compliance
Compliance with AML/CFT requirements

60Annual AML/CFT report

  1. The reporting entity must prepare an annual report on its risk assessment and AML/CFT programme.

  2. An annual report must—

  3. be in the prescribed form; and
    1. take into account the results and implications of the audit required by section 59(2); and
      1. contain any information prescribed by regulations.

        1. The reporting entity must provide the annual report to its AML/CFT supervisor at a time appointed by the AML/CFT supervisor.

        2. The AML/CFT supervisor must give the reporting entity reasonable notice of the requirement to provide the annual report.