Anti-Money Laundering and Countering Financing of Terrorism Act 2009

40 Reporting entities to report suspicious activities

(1)

Subsections (3) and (4) apply to reporting entities other than high-value dealers.

(2)

Subsection (5) applies to high-value dealers.

(3)

If this subsection applies, the reporting entity must, as soon as practicable but no later than 3 working days after forming its suspicion, report the activity, or suspicious activity, to the Commissioner in accordance with section 41.

(4)

Nothing in subsection (3) requires any person to disclose any information that the person believes on reasonable grounds is a privileged communication.

(5)

A high-value dealer may report a suspicious activity to the Commissioner.

Section 40: replaced, on 11 August 2017, by section 25 of the Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2017 (2017 No 35).