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Anti-Money Laundering and Countering Financing of Terrorism Act 2009

Enforcement - Civil liability

79: Possible responses to civil liability act

You could also call this:

"What happens if someone breaks the anti-money laundering rules"

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

If someone thinks a civil liability act has happened, the supervisor in charge of anti-money laundering and countering financing of terrorism can take action. They can issue a formal warning under section 80. They can also accept an enforceable undertaking under section 81 and go to court if that undertaking is broken, using section 82. They can seek an injunction from the High Court under section 85 or 87. They can apply to the court for a pecuniary penalty under section 90. The supervisor can choose one or more of these actions.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2140952.

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Part 3Enforcement
Civil liability

79Possible responses to civil liability act

  1. If a civil liability act is alleged to have occurred, the relevant AML/CFT supervisor may do 1 or more of the following:

  2. issue a formal warning under section 80:
    1. accept an enforceable undertaking under section 81 and seek an order in the court for breach of that undertaking under section 82:
      1. seek an injunction from the High Court under section 85 or 87:
        1. apply to the court for a pecuniary penalty under section 90.