The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT) is the primary legislation intended to satisfy New Zealand’s international obligations to combat money laundering. The Act establishes the grounds for prevention, detection, investigation and prosecution of money laundering.
This course will help you understand the various identification and reporting obligations of the Act as well as related legislation such as the Terrorism Suppression Act 2002. Key concepts and obligations are set out, from corporate compliance, customer relationships, and customer due diligence to suspicious transactions and the suppression of terrorism.
Employees of financial institutions need to understand their obligations under the Act to ensure all reasonable steps are taken to deter their institution and its products and services from being used by a person who is laundering money.
Who should do this training?
You should complete this course if you are involved in a compliance or risk management function, with the processing of financial transactions or with the opening of accounts at a financial institution or casino
- Module 1: Introduction to money laundering
- Module 2: Money laundering risks
- Module 3: Customer Due Diligence
- Module 4: Monitoring and Reporting Obligations
- Module 5: Terrorist financing
Do you have a policy or process, or some subject-matter expertise that you would like to add to this course?
Talk to us about ways we can quickly tailor the course to suit your needs.
For more information on other GRC Solutions' Anti-Money Laundering – New Zealand Resources:
- Anti-Money Laundering– covering the responsibilities of financial services and other businesses in general
Australia – Financial Services
- AML/CTF Training for Finance Sector – covering the particular responsibilities of ADIs