AML compliance is easy - said no one ever!
December 4, 2019
AML’s easy – said no one ever!
But maybe we are making it harder on ourselves than it needs to be. It doesn’t help having the big penalties weight of the supervisors on our backs and the unclear interpretations of the legislation and guidance. However, if we take a step back and ask ourselve...
October Dirt
November 5, 2019
It has been a busy month with the FIU and ACAMS NZ Conference in Wellington at the start of October and a pick-up of audit enquires and jobs. Key DIA takeaway from the conference was:
“If you think compliance is expensive, try non-compliance”
Essentially the regime...
Growth Pains of AML
September 23, 2019
Growth Pains of AML
New Zealand is still in its developmental stage with its anti-money laundering and countering financing terrorism (AML/CFT) compliance regime. Although Phase 1 entities such as financial institutions and casinos have been subject to the AML/CFT Act since 2013, Phase 2 entiti...
The Dirt on AML - August Newsletter
You’ve probably already heard that $1.35 billion is estimated by the New Zealand Police to be laundered through New Zealand businesses by criminals – mostly drug dealers, fraudsters and tax evaders. It’s been in the keep our money clean campaign been run by the g...