AML - Anti-Money Laundering and Countering Financing of Terrorism regulations in New Zealand.
From 1 October we may need further information from you our clients
From 1 October 2018 we are required to comply with our obligations under the revised Anti-Money Laundering and Countering Financing of Terrorism regulations in New Zealand. This may require undertaking client due diligence, verifying your identity and if necessary gathering further information. This will be similar to what you currently experience when dealing with New Zealand Banks.
The information we require will depend on the type of work we’re delivering and entity structure that you have. If required, we will need this information before we perform any work. The next time we receive instructions from you, we will let you know if we need to carry out due diligence and, if so, what information we need. This may include:
Forms of identification (for example, your passport or driver’s licence)
Proof of your address (for example a recent utility bill or rates invoice)
Your occupation and where you do business
Whether you reside in a high risk jurisdiction
Whether you are a politically exposed person (PEP)
We may need further information depending on the services we provide to you, or your specific circumstances. For example, for trusts, we may require information about trustees and beneficiaries. For companies, we may need information about directors and shareholders. We may also need to verify the source of funds for certain transactions.
We will be in touch with those affected as required. For now, if you have any queries, please contact the director you usually deal with.