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Anti-Money Laundering and Countering Financing of Terrorism Act 2009

AML/CFT requirements and compliance - Suspicious activity reports

39A: Interpretation

You could also call this:

"What special words mean in this law"

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

When you are looking at this part of the law, some words have special meanings. A "service" is an activity that a reporting entity carries out, but only if the law applies to that entity for that activity, as stated in section 6(4). You might see something called "suspicious activity", which is when someone does something that makes a reporting entity think it could be related to money laundering, or breaking other laws, such as the Misuse of Drugs Act 1975, the Terrorism Suppression Act 2002, the Proceeds of Crime Act 1991, or the Criminal Proceeds (Recovery) Act 2009. This can happen when someone tries to do a transaction, or asks for a service, and the reporting entity thinks it might be suspicious.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7407616.

Topics:
Money and consumer rights > Consumer protectionCrime and justice > Criminal law
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"Tell the authorities if you think something suspicious is happening"

Part 2AML/CFT requirements and compliance
Suspicious activity reports

39AInterpretation

  1. For the purposes of this subpart,—

    service—

    1. means an activity that is carried out by a reporting entity; but
      1. does not include an activity unless section 6(4) applies this Act to the reporting entity in relation to the activity

        suspicious activity means an activity undertaken in circumstances—

        1. in which—
          1. a person conducts or seeks to conduct a transaction through a reporting entity; or
            1. a reporting entity provides or proposes to provide a service to a person; or
              1. a person requests a reporting entity to provide a service or makes an inquiry to the reporting entity in relation to a service; and
              2. where the reporting entity has reasonable grounds to suspect that the transaction or proposed transaction, the service or proposed service, or the inquiry, as the case may be, is or may be relevant to—
                1. the investigation or prosecution of any person for a money laundering offence; or
                  1. the enforcement of the Misuse of Drugs Act 1975; or
                    1. the enforcement of the Terrorism Suppression Act 2002; or
                      1. the enforcement of the Proceeds of Crime Act 1991 or the Criminal Proceeds (Recovery) Act 2009; or
                        1. the investigation or prosecution of an offence (within the meaning of section 243(1) of the Crimes Act 1961).

                      Notes
                      • Section 39A: inserted, on , by section 25 of the Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2017 (2017 No 35).