Anti-Money Laundering and Countering Financing of Terrorism Act 2009

38 Prohibition on false customer names and customer anonymity

(1)

A reporting entity must not,—

(a)

knowingly or recklessly, set up a facility for a customer on the basis of customer anonymity:

(b)

without lawful justification or reasonable excuse, set up a facility for a customer under a false customer name.

(2)

Subsection (1) does not apply to a facility—

(a)

that has a number or other identifier allocated to it and the customer and any person who is authorised to act on behalf of the customer in respect of the facility has had their identity verified in accordance with the relevant customer due diligence requirements; or

(b)

that has been set up for the Commissioner or for the New Zealand Security Intelligence Service or for the Government Communications Security Bureau for law enforcement purposes.

Section 38(2)(a): amended, on 12 December 2012, by section 5 of the Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2012 (2012 No 98).

Section 38(2)(b): amended, on 24 October 2019, by section 4 of the Statutes Amendment Act 2019 (2019 No 56).