Anti-Money Laundering and Countering Financing of Terrorism Act 2009

AML/CFT requirements and compliance - Customer due diligence - Enhanced customer due diligence

22A: Enhanced customer due diligence required for certain activities requiring suspicious activities report

You could also call this:

"Do extra checks when you suspect something fishy and have to report it"

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

You need to do extra checks when you are doing something that you have to tell the Commissioner about under section 40. This is if you are not exempt from checking your customers. You have to do these extra checks when an existing customer or someone doing a one-off transaction is involved. When you find out you have to report something suspicious under section 40, you must do extra checks as soon as possible. This is part of what you have to do under section 22(1)(e). You have to do these checks for the activity you are reporting.

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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=DLM7407350.

Topics:

Money and consumer rights > Banking and loansCrime and justice > Police and safety

22: Circumstances when enhanced customer due diligence applies, or

"When extra checks are needed to stop money laundering"

23: Enhanced customer due diligence: identity requirements, or

"Checking who a customer is and where their money comes from to prevent bad things"

Part 2AML/CFT requirements and compliance
Customer due diligence: Enhanced customer due diligence

22AEnhanced customer due diligence required for certain activities requiring suspicious activities report

This section applies to an activity—
that the reporting entity concerned (other than a high-value dealer) is required to report to the Commissioner under section 40; and
that is not otherwise exempt from the customer due diligence requirements or from all the requirements of the Act; and
that is conducted, or sought to be conducted,—
1. by an existing customer; or
2. by a customer engaging in an occasional transaction or activity.

For the purposes of section 22(1)(e), as soon as practicable after a reporting entity becomes aware that the reporting entity must report the suspicious activity under section 40, a circumstance occurs in which the reporting entity must conduct enhanced customer due diligence in respect of that activity.

Notes

Section 22A: inserted, on 11 August 2017, by section 14 of the Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2017 (2017 No 35).