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Anti-Money Laundering and Countering Financing of Terrorism Act 2009

AML/CFT requirements and compliance - Record keeping

49A: Obligation to keep reports of suspicious activities

You could also call this:

"Keep a record of suspicious activity reports for at least 5 years"

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

You have to keep a copy of a report if you tell the Commissioner about a suspicious activity. You must keep this copy for at least 5 years after you make the report. You might have to keep it for longer if the AML/CFT supervisor or the Commissioner says so.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7407674.

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Part 2AML/CFT requirements and compliance
Record keeping

49AObligation to keep reports of suspicious activities

  1. If a reporting entity reports a suspicious activity to the Commissioner, the reporting entity must keep a copy of that report.

  2. The reporting entity must keep a copy of the report for—

  3. a period of at least 5 years after the report is made; or
    1. any longer period that the AML/CFT supervisor for the reporting entity, or the Commissioner, specifies.

      Notes
      • Section 49A: inserted, on , by section 26 of the Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2017 (2017 No 35).