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Anti-Money Laundering and Countering Financing of Terrorism Act 2009

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

105: Penalties

You could also call this:

"What happens if you break the law: penalties and fines"

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

If you break the law under section 101, you can get in trouble. You might go to prison for up to 2 years or get a fine of up to $300,000. If you are a company or partnership, you can get a fine of up to $5 million. If you break the law under either sections 102 or 103, you can also get in trouble. You might go to prison for up to 3 months or get a fine of up to $10,000. If you are a company or partnership, you can get a fine of up to $50,000. You will get these penalties if you are found guilty.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2140987.

Topics:
Crime and justice > Criminal law
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104: Time limit for prosecution of offences relating to non-compliance with AML/CFT requirements, or

"You have 3 years to take someone to court for breaking money laundering rules."

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105A: Contravention of section 67A, or

"Breaking a specific money laundering rule is an offence and can lead to punishment."

Part 3Enforcement
Offences: Other offences relating to non-compliance with AML/CFT requirements

105Penalties

  1. A person who commits an offence under section 101 is liable, on conviction, to,—

  2. in the case of an individual, either or both of the following:
    1. a term of imprisonment of not more than 2 years:
      1. a fine of up to $300,000; and
      2. in the case of a body corporate or partnership, a fine of up to $5 million.

        1. A person who commits an offence under either of sections 102 and 103 is liable, on conviction, to,—

        2. in the case of an individual, either or both of the following:
          1. a term of imprisonment of not more than 3 months:
            1. a fine of up to $10,000; and
            2. in the case of a body corporate or partnership, a fine of up to $50,000.

              Notes
              • Section 105(1)(b): amended, on , by section 9(1) of the Statutes Amendment Act 2018 (2018 No 27).
              • Section 105(2)(b): amended, on , by section 9(2) of the Statutes Amendment Act 2018 (2018 No 27).