Anti-Money Laundering and Countering Financing of Terrorism Act 2009

Part 1 Preliminary provisions

3 Purpose

(1)

The purposes of this Act are—

(a)

to detect and deter money laundering and the financing of terrorism; and

(b)

to maintain and enhance New Zealand’s international reputation by adopting, where appropriate in the New Zealand context, recommendations issued by the Financial Action Task Force; and

(c)

to contribute to public confidence in the financial system.

(2)

Accordingly, this Act facilitates co-operation amongst reporting entities, AML/CFT supervisors, and various government agencies, in particular law enforcement and regulatory agencies.