The Parliamentary Counsel Office has made editorial and format changes to this version using the powers under subpart 2 of Part 3 of the Legislation Act 2019.

Note 4 at the end of this version provides a list of the amendments included in it.

These regulations are administered by the Ministry of Justice.

These regulations are made under sections 48A, 48B, 153, and 154 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 and section 56(1)(e) and (2) of the Financial Transactions Reporting Act 1996—

(a)

on the advice and with the consent of the Executive Council; and

(b)

in relation to regulations made under section 154 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, on the recommendation of the Minister (as defined by section 5 of that Act) made in accordance with section 154(2) and (3) of that Act.

Regulations

1 Title

These regulations are the Anti-Money Laundering and Countering Financing of Terrorism (Prescribed Transactions Reporting) Regulations 2016.

2 Commencement

These regulations come into force on 1 November 2017.

3 Revocation

[Revoked]

Regulation 3: revoked, on 28 October 2022, by regulation 4 of the Anti-Money Laundering and Countering Financing of Terrorism (Prescribed Transactions Reporting) Amendment Regulations 2022 (SL 2022/265).

4 Interpretation

In these regulations, unless the context otherwise requires,—

Act means the Anti-Money Laundering and Countering Financing of Terrorism Act 2009

as available, in relation to any information to be disclosed by a reporting entity by these regulations, means any information in the possession of the reporting entity that is reasonably accessible from its records

prescribed transaction has the same meaning as in section 5 of the Act

section 48A(1) report means a report of a prescribed transaction made by a reporting entity under section 48A(1) of the Act.

5 Transitional, savings, and related provisions

The transitional, savings, and related provisions (if any) set out in Schedule 1 have effect according to their terms.

6 Prescribed transactions

For the purposes of section 48A of the Act, the following are applicable threshold values for a prescribed transaction:

(a)

the applicable threshold of a wire transfer is $1,000:

(b)

the applicable threshold for a domestic cash transaction is $10,000.

7 Information to be included in section 48A(1) report

The information to be included in a section 48A(1) report is the information set out in Schedule 2.

8 Prescribed transaction report to be submitted when making or receiving prescribed transaction through another reporting entity

(1)

This regulation applies to a designated non-financial business or profession that makes or receives a prescribed transaction on behalf of a customer from or into its trust account held with another reporting entity.

(2)

The designated non-financial business or profession must—

(a)

submit a prescribed transaction report under section 48A(1) of the Act containing the relevant information set out in section 48B(1) of the Act and Part 1 of Schedule 2 that it holds in relation to the transfer; and

(b)

include in that report any unique identifier it receives in relation to the transfer for the purpose of enabling the Commissioner to match complementary reports made by other reporting entities under section 48A.

Regulation 8: inserted, on 31 July 2023, by regulation 4 of the Anti-Money Laundering and Countering Financing of Terrorism (Prescribed Transactions Reporting) Amendment Regulations 2023 (SL 2023/160).

9 Prescribed transaction report to be submitted for cash transactions deposited to beneficiary’s bank account to settle international wire transfer

(1)

This regulation applies to an operator of a money or value transfer service who makes funds available to a beneficiary of an international wire transfer by depositing physical cash into a bank account at a registered bank.

(2)

The operator of a money or value transfer service must submit a prescribed transaction report under section 48A(1) of the Act containing the relevant information set out in section 48B(1) of the Act and Part 2 of Schedule 2 that it holds in relation to the deposit.

Regulation 9: inserted, on 1 June 2024, by regulation 5 of the Anti-Money Laundering and Countering Financing of Terrorism (Prescribed Transactions Reporting) Amendment Regulations 2023 (SL 2023/160).

Schedule 1 Transitional, savings, and related provisions

r 5

Part 1 Provisions relating to these regulations as made

There are no transitional, savings, or related provisions relating to these regulations as made.

Schedule 2 Information to be included in section 48A(1) report

r 7

Schedule 2: replaced, on 11 August 2017, by section 70(2) of the Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2017 (2017 No 35).

Part 1 Details to be contained in international wire transfer report

1 General

For the reporting entity,—

(a)

the name of the reporting entity:

(b)

the business address of the reporting entity:

(c)

the name of the reporting entity’s AML/CFT supervisor.

2 Transaction details

For each transaction,—

(a)

the branch or location where the transaction took place in New Zealand (if relevant):

(b)

the country where the transaction took place (if not New Zealand):

(c)

the date and time of transaction:

(d)

the mode of the transaction (ie, wire transfer):

(e)

the type of funds (eg, cash deposit, deposit from electronic funds):

(f)

the amount in New Zealand dollars:

(g)

the amount in foreign currency (if applicable):

(h)

the exchange rate (if applicable):

(i)

the unique transaction reference number:

As available

(j)

the branch or city or region where the transaction took place if not in New Zealand:

(k)

the Internet Protocol address of the originator.

3 Transaction details in relation to originator or beneficiary

For each transaction by international wire transfer,—

(a)

the information to be provided where the reporting entity’s customer is the originator of the transaction (and not the information in paragraph (b)) is as follows:

(i)

the name of the beneficiary of the international wire transfer:

(ii)

the account number for the beneficiary of the international wire transfer:

(iii)

the country where the beneficiary account is held or the location of the beneficiary (city or region, if available):

(iv)

any other details of the location of the beneficiary account or beneficiary, as available:

(v)

any other identifying information regarding the beneficiary of the international wire transfer, as available:

(b)

the information to be provided where the reporting entity’s customer is the beneficiary of the international wire transfer (and not the information in paragraph (a)) is as follows:

(i)

the name of the originator of the international wire transfer:

(ii)

the account number for the originator of the international wire transfer:

(iii)

the country where the originator account is held or the originator is:

(iv)

any other details of the location of the originator account or the originator, as available:

As available

(v)

any other identifying information regarding the originator of the international wire transfer.

4 Customer details

(1)

For each customer party to the transaction,—

(a)

their name:

(b)

either their account number or unique customer identifier or both (if applicable):

(c)

their date of birth (if applicable):

(d)

their identity document number:

As available

(e)

the type of account or facility:

(f)

the physical address of each customer party to the transaction or (if the customer party is a company) the address of its registered office:

(g)

the phone number of each customer party to the transaction:

(h)

any other identifying information regarding each customer party to the transaction.

(2)

For each person acting on behalf of a customer,—

As available

(a)

the name of the person:

(b)

their account number or unique customer identifier:

(c)

their date of birth (if applicable):

(d)

their identity document number:

(e)

if the customer is not a natural person, identifying information that allows the transaction to be traced back to the person originating the transaction on behalf of the customer.

Part 2 Details to be contained in domestic physical cash transaction report

5 General

For the reporting entity,—

(a)

the name of the reporting entity:

(b)

the business address of the reporting entity:

(c)

the name of the reporting entity’s AML/CFT supervisor.

6 Transaction details

For each transaction,—

(a)

the branch or location and where the transaction took place:

(b)

the date and time of transaction:

(c)

the mode of transaction (eg, in person, ATM, or other relevant system or channel):

(d)

the type of funds (eg, cash):

(e)

the amount in New Zealand dollars:

(f)

the amount in foreign currency (if applicable):

(g)

the exchange rate (if applicable):

(h)

the unique transaction reference number.

7 Customer details

(1)

For each customer party to the transaction,—

(a)

their name:

(b)

either their account number or unique customer identifier or both (if applicable):

(c)

their date of birth (if applicable):

(d)

their identity document number:

As available

(e)

the type of account or facility:

(f)

the physical address of each customer party to the transaction or (if the customer party is a company) the address of its registered office:

(g)

the phone number of each customer party to the transaction:

(h)

any other identifying information regarding each customer party to the transaction.

(2)

For each person acting on behalf of a customer,—

(a)

the name of the person:

As available

(b)

their account number or unique customer identifier:

(c)

their date of birth (if applicable):

(d)

their identity document number:

(e)

if the customer is not a natural person, identifying information that allows the transaction to be traced back to the person originating the transaction on behalf of the customer.

Michael Webster,
Clerk of the Executive Council.

Issued under the authority of the Legislation Act 2019.

Date of notification in Gazette: 10 November 2016.

Notes

1 General

This is a consolidation of the Anti-Money Laundering and Countering Financing of Terrorism (Prescribed Transactions Reporting) Regulations 2016 that incorporates the amendments made to the legislation so that it shows the law as at its stated date.

2 Legal status

A consolidation is taken to correctly state, as at its stated date, the law enacted or made by the legislation consolidated and by the amendments. This presumption applies unless the contrary is shown.

Section 78 of the Legislation Act 2019 provides that this consolidation, published as an electronic version, is an official version. A printed version of legislation that is produced directly from this official electronic version is also an official version.

3 Editorial and format changes

The Parliamentary Counsel Office makes editorial and format changes to consolidations using the powers under subpart 2 of Part 3 of the Legislation Act 2019. See also PCO editorial conventions for consolidations.

4 Amendments incorporated in this reprint

Anti-Money Laundering and Countering Financing of Terrorism (Prescribed Transactions Reporting) Amendment Regulations 2023 (SL 2023/160)

Anti-Money Laundering and Countering Financing of Terrorism (Prescribed Transactions Reporting) Amendment Regulations 2022 (SL 2022/265)

Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2017 (2017 No 35): section 70