Anti-Money Laundering and Countering Financing of Terrorism Act 2009

22A Enhanced customer due diligence required for certain activities requiring suspicious activities report


This section applies to an activity—


that the reporting entity concerned (other than a high-value dealer) is required to report to the Commissioner under section 40; and


that is not otherwise exempt from the customer due diligence requirements or from all the requirements of the Act; and


that is conducted, or sought to be conducted,—


by an existing customer; or


by a customer engaging in an occasional transaction or activity.


For the purposes of section 22(1)(e), as soon as practicable after a reporting entity becomes aware that the reporting entity must report the suspicious activity under section 40, a circumstance occurs in which the reporting entity must conduct enhanced customer due diligence in respect of that activity.

Section 22A: inserted, on 11 August 2017, by section 14 of the Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2017 (2017 No 35).