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Anti-Money Laundering and Countering Financing of Terrorism Act 2009

AML/CFT requirements and compliance - Compliance with AML/CFT requirements

59A: Audit of compliance with AML/CFT obligations

You could also call this:

"Checking you follow the money laundering rules"

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

You are a high-value dealer. You must check you are following the rules. You do this when the AML/CFT supervisor asks. The supervisor checks you are following the rules under section 6(4)(d)(ii) and any regulations.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7407684.

Topics:
Money and consumer rights > Consumer protectionBusiness > Industry rules
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59: Review and audit of risk assessment and AML/CFT programmes, or

"Check and update your money safety plan regularly"

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59B: Who carries out audit, or

"Who does the independent check of the money laundering rules?"

Part 2AML/CFT requirements and compliance
Compliance with AML/CFT requirements

59AAudit of compliance with AML/CFT obligations

  1. A high-value dealer must ensure that its compliance with its AML/CFT obligations under section 6(4)(d)(ii), and any regulations, is audited when the relevant AML/CFT supervisor requests.

Notes
  • Section 59A: inserted, on , by section 29 of the Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2017 (2017 No 35).