An overview of AML
The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML-CFT) requires the likes of banks, accounting firms, lawyers, conveyancers, real estate agents, casinos, high- value asset dealers, trust and company service providers, and tax pooling intermediaries to take measures to detect, report and deter money laundering and terrorism financing.
How this impacts you:
AML-CFT means you will need to supply information that verifies who you say you are when carrying out certain transactions or entering a business relationship with a reporting entity, such as TMNZ, captured by the Act.
You will be asked to supply information that confirms your identity if you are:
- A customer (e.g. an individual person, company or trust).
- A beneficial owner of a customer.
- A person acting on behalf of a customer.
For individuals we need:
| The individual themselves | A person acting on behalf of the individual |
|---|---|
| Your full name, date of birth and residential address. | Your full name, date of birth and residential address. Documentation that confirms your relationship with the customer and proof of authority to act on behalf of the customer must also be supplied. |
For the beneficial owner(s) or person acting on behalf of the privately held company
| A beneficial owner of the privately held company | A person acting on behalf of the privately held company |
|---|---|
| Your full name, date of birth and residential address. | Your full name, date of birth and residential address. Documentation that confirms your relationship with the customer and proof of authority to act on behalf of the customer must also be supplied. |
Identity and address documentation
Below we detail some of the documentation you can get verified to confirm your full name, date of birth and residential address if you are the person who is a customer, a beneficial owner of a customer or a person acting on behalf of a customer.
| Option 1 | You can use ONE of the following photographic documents: • A current New Zealand passport. • A New Zealand certificate of identity. • A New Zealand refugee travel document. • A New Zealand firearms licence. • An overseas passport or similar document issued for the purpose of international travel*. • A national identity card issued for the purpose of identification*. |
| Option 2 | A full New Zealand birth certificate (or birth certificate issued by a foreign government) or a New Zealand or overseas citizen certificate. AND One of the following supporting photographic identification: • New Zealand driver licence. • 18+ card. • An international driver licence or permit. Please note the above is not a full list of supporting photographic identification that may be acceptable. |
| Option 3 | You can use a New Zealand driver licence and ONE of the following: • New Zealand birth certificate. • New Zealand or overseas citizen certificate. • A credit or debit card containing your name and signature. • A New Zealand bank statement issued in the last 12 months. • A document issued by a government agency that contains your name and signature (e.g. a SuperGold Card). • A statement issued to you by a government agency in the last 12 months (e.g. an IRD statement). |
For a quick quide on AML for you or your firm Download our flyer
For a more comprehensive guide covering the legislation and regulatory environment, please see our AML guide.