This topic provides a high-level overview of New Zealand’s Anti-Money Laundering & Countering Financing of Terrorism Act (AML/CFT).

This topic outlines:

1. Terminology

2. Purpose

3. Risk Assessments

4. Customer Due Diligence

5. Ongoing Customer Due Diligence & Account Monitoring

6. Suspicious Matter Reporting

7. Governance Obligations

8. Summary

This topic is an overview only of the AML/CFT Act’s key obligations. It cannot be taken as legal advice.

There is an assessment component for the successful completion of this topic.