The move brought the list down to five non-cooperative jurisdictions - Samoa, Trinidad and Tobago and the three United States’ territories of American Samoa, Guam, and the US Virgin Islands.
Read MoreThe FIU have issued a Suspicious Activity Reporting Guideline to help clarify the obligation to report SARs under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act).
Read MoreThe Department of Internal Affairs has received a number of questions from accounting practices seeking clarification on whether activities relating to tax transfers, payments and refunds are captured activities for the purposes of the AML/CFT Act.
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Providing a registered office or a business address, a correspondence address, or an administrative address for a company, or a partnership, or for any other legal person or arrangement, unless the office or address is provided solely as an ancillary service to the provision of services not caught by the AML/ CFT Act.
Read MoreThe Department of Internal Affairs (DIA) is aware that lawyers and accountants are seeking clarification on how to meet their CDD obligations under the AML/CFT Act relating to non-clients using their trust accounts.
Read MoreThis Sector Risk Assessment is the second AML/CFT risk assessment undertaken by the Department of Internal Affairs for reporting entities covered by Phase 1 of the AML/CFT Act.
Read MoreThe FMA has published an information sheet that explains the conditions for reporting entities whose customers include managing intermediaries and customers of managing intermediaries to be able to rely on the Anti-Money Laundering and Countering Financing of Terrorism (Class Exemptions) Notice 2018.
Read MoreIn Operation Ark, the New Zealand Police investigated a case where drug offenders had engaged an accountant to set up a complex structure of legal entities, including a trust.
Read MoreProposed changes to Canada's anti-money laundering and terrorist financing law would bring Canada more in line with other western economies and address concerns raised by international financial regulators.
Read MoreIn the past week alone, cases of money laundering have hit headlines all around Europe. An investigation found that up to $30 billion of ex-Soviet and Russian money had potentially passed through the Estonian branch of Denmark’s largest bank, Danske Bank.
Read MoreA banned Auckland finance director, convicted of laundering dirty money for a high-profile multi-national drug deal, has applied to have his bankruptcy notice set aside.
Read MoreWhen a woman carried a supermarket shopping bag filled with cash into a bank, a teller's suspicions were raised.
Read MoreAn Auckland finance company accused of being involved in an alleged multi-million dollar pyramid scheme has pleaded not guilty to money laundering charges.
Read MoreA methamphetamine manufacturer and dealer in the Waikato region used an accountant to receive cash from his drug dealing and convert it into various purchases of farm land over a number of years.
Read MoreThe Department of Internal Affairs has issued guidance to the real estate industry following the enactment of Regulations specific to this industry. We recommend that anyone engaged in real estate assess whether they fall under the AML/CFT regime, and if they do, ensure that they take the necessary steps to comply.
Read MoreChinese regulators have made it clearer than ever that anti-money laundering (AML) is a major priority, with the People’s Bank of China (PBOC) recently posting on its website a notice from the State Council -- the government’s main executive body -- that elevates AML to a key part of the national strategy on financial regulation.
Read MoreA vast web of shell companies is operating freely in Britain despite flagrant warning signs and documented ties to suspected money laundering, alleged bribery, and even Donald Trump’s convicted former campaign manager Paul Manafort.
Read MoreA banned Auckland finance director has been sentenced after laundering dirty money for a high-profile multi-national drug deal.
Read MoreThe Department of Internal Affairs (DIA) is aware that law firms are seeking clarification on how to meet their CDD obligations under the AML/CFT Act relating to non-clients using law firm trust accounts.
Read MoreAuckland-based money remitter Qian DuoDuo Limited, prosecuted by the Department of Internal Affairs (DIA) under anti-money laundering legislation, moved almost $95 million from China to New Zealand without having enough information to trace transactions back to the originator, a court judgment says.
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