Anti-Money Laundering and Countering Financing of Terrorism Act 2009

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Reprint as at 1 December 2014

Coat of Arms of New Zealand

Anti-Money Laundering and Countering Financing of Terrorism Act 2009

Public Act
2009 No 35
Date of assent
16 October 2009
see section 2

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This Act is administered by the Ministry of Justice.


6Application of this Act to reporting entities
7Amounts not in New Zealand currency
8Act binds the Crown
9Non-compliance not excused by contractual obligations
11Customer due diligence
12Reliance on risk assessment when establishing level of risk
13Basis for verifying identity
14Circumstances when standard customer due diligence applies
15Standard customer due diligence: identity requirements
16Standard customer due diligence: verification of identity requirements
17Standard customer due diligence: other requirements
18Circumstances when simplified customer due diligence applies
19Simplified customer due diligence: identity requirements
20Simplified customer due diligence: verification of identity requirements
21Simplified customer due diligence: other requirements
22Circumstances when enhanced customer due diligence applies
23Enhanced customer due diligence: identity requirements
24Enhanced customer due diligence: verification of identity requirements
25Enhanced customer due diligence: other requirements
26Politically exposed person
27Wire transfers: identity requirements
28Wire transfers: verification of identity requirements
29Correspondent banking relationships
30New or developing technologies, or products, that might favour anonymity
31Ongoing customer due diligence and account monitoring
32Reliance on member of designated business group
33Reliance on other reporting entities or persons in another country
34Reliance on agents
35Use of information obtained from third party conducting customer due diligence
36Protection of personal information and designated business groups
37Prohibitions if customer due diligence not conducted
38Prohibition on false customer names and customer anonymity
39Prohibition on establishing or continuing business relationship involving shell bank
40Reporting entities to report suspicious transactions
41Nature of suspicious transaction report
42Privileged communication defined
43Auditors may report suspicious transactions
44Protection of persons reporting suspicious transactions
45Immunity from liability for disclosure of information relating to money laundering transactions
46Disclosure of information relating to suspicious transaction reports
47Disclosure of information in proceedings
48Disclosure of personal information relating to employees or senior managers
49Obligation to keep transaction records
50Obligation to keep identity and verification records
51Obligation to keep other records
52How records to be kept
53When records need not be kept
54Destruction of records
55Other laws not affected
56Reporting entity must have AML/CFT programme and AML/CFT compliance officer
57Minimum requirements for AML/CFT programmes
58Risk assessment
59Review and audit of risk assessment and AML/CFT programme
60Annual AML/CFT report
61Reporting entities to ensure that branches and subsidiaries comply with AML/CFT requirements
63AML/CFT supervisors to prepare codes of practice for relevant sectors
64Procedure for approval and publication of codes of practice
65Amendment and revocation of codes of practice
66Proof of codes of practice
67Legal effect of codes of practice
68Reports about movement of cash into or out of New Zealand
69Reports about receipt of cash from outside New Zealand
70Reporting requirements
71Information to be forwarded to Commissioner
72When and how civil penalty proceedings brought
73Relationship between concurrent civil penalty proceedings and criminal proceedings
74One penalty only rule
75Restriction on use of evidence given in civil penalty proceedings
76Protection for AML/CFT supervisors
77Protection for reporting entities, officers, etc, acting in compliance with this Act
78Meaning of civil liability act
79Possible responses to civil liability act
80Formal warnings
81Enforceable undertakings
82Enforcement of undertakings
83Assessment of compensation for breach of undertakings
84Powers of High Court not affected
85Performance injunctions
86When High Court may grant performance injunctions
87Restraining injunctions
88When High Court may grant restraining injunctions and interim injunctions
89Undertaking as to damages not required by AML/CFT supervisor
90Pecuniary penalties for civil liability act
91Offence and penalties for civil liability act
92Failing to report suspicious transaction
93Providing false or misleading information in connection with suspicious transaction report
94Unlawful disclosure of suspicious transaction report
95Failure to keep or retain adequate records relating to suspicious transaction
96Obstruction of investigation relating to suspicious transaction report
97Contravention of section 47(1)
99Time limit for prosecution of offences relating to civil liability act and suspicious transaction reports
101Structuring transaction to avoid application of AML/CFT requirements
102Offence to obstruct AML/CFT supervisor
103Offence to provide false or misleading information to AML/CFT supervisor
104Time limit for prosecution of offences relating to non-compliance with AML/CFT requirements
106Failure to report cash over applicable threshold value moved into or out of New Zealand
107Failure to report cash over applicable threshold value received by person in New Zealand from overseas
108Structuring cross-border transportation to avoid application of AML/CFT requirements
110Providing false or misleading information in connection with cash report
111Offence to obstruct or not to answer questions from Customs officer
113Chief executive of New Zealand Customs Service may deal with cash reporting offences
114Relationship with Customs and Excise Act 1996
115Duty of persons with knowledge of computer or computer network or other data storage devices to assist access to Customs officer
117Search warrant
118Powers under search warrant
119Assistance with searches [Repealed]
120Enforcement officers to show identity card on request [Repealed]
121Announcement before entry [Repealed]
122Details of warrant to be given to occupier
123Occupier entitled to be present during search
124Use of electronic equipment
125Copies of documents seized to be provided [Repealed]
126Receipts for things seized [Repealed]
127Application of sections 198A and 198B of Summary Proceedings Act 1957 [Repealed]
128Return and retention of things seized [Repealed]
129Order to retain things seized [Repealed]
130AML/CFT supervisors
133Matters relating to conduct of on-site inspections
134Delegation of supervisory function and powers
135Authority to act as delegate
136Effect of delegation
137Power to use information obtained as AML/CFT supervisor in other capacity and vice versa
138Restriction on power to use information under section 137
139Power to disclose information supplied or obtained as AML/CFT supervisor
140Power to use and disclose information supplied or obtained under other enactments for AML/CFT purposes
141Enforcement officers
142Financial intelligence functions of Commissioner
143Powers relating to financial intelligence functions of Commissioner
144Delegation of powers of Commissioner
145Guidelines relating to reporting of suspicious transactions
146Consultation on proposed guidelines
147Availability of guidelines
148Review of guidelines
149Role of Ministry
150AML/CFT co-ordination committee
151Role of AML/CFT co-ordination committee
154Regulations relating to application of Act
155Regulations relating to countermeasures
156Consultation not required for consolidation of certain regulations and minor amendments
157Minister may grant exemptions
158Minister must consult before granting exemption
159Requirements relating to exemptions
160Transitional and savings provisions
161Amendments to other enactments
162Amendment to Financial Transactions Reporting Act 1996 consequential on bringing into force of Part 2
163Amendment to Financial Transactions Reporting Act 1996 relating to cross-border transportation of cash
Reprint notes

The Parliament of New Zealand enacts as follows: