New Zealand Anti-Money Laundering and Countering Financing of Terrorism Act 2009
Course Details
Description
The New Zealand Anti-Money Laundering and Countering Financing of Terrorism Act 2009 was introduced as part of a global initiative to combat the growing threats of money laundering and terrorism financing. Its primary goal is to ensure that New Zealand’s financial system is not misused for illegal activities and remains a secure and trustworthy place to conduct business.
This legislation came fully into force on 30 June 2013, placing strict obligations on financial institutions and professionals to detect, deter, and report suspicious activity. The New Zealand Anti-Money Laundering and Countering Financing of Terrorism Act 2009 provides the legal foundation for protecting the integrity of New Zealand’s economy.
In today’s increasingly complex financial landscape, finance advisors play a crucial role in guiding clients through investment options and regulatory requirements. The New Zealand Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (commonly referred to as the AML/CFT Act) is especially significant for finance professionals, as it directly affects how they operate and advise clients.
Understanding the AML/CFT Act is essential for:
- Compliance: Aligning practices with the Act to avoid heavy penalties and reputational damage.
- Client due diligence: Carrying out thorough identity checks and understanding client activities to detect suspicious behaviour.
- Risk management: Assessing and mitigating the risks associated with financial crime and terrorism financing.
- Building trust: Demonstrating compliance helps build client confidence and safeguards the credibility of financial advice.
This course provides a comprehensive overview of the New Zealand Anti-Money Laundering and Countering Financing of Terrorism Act 2009, its core obligations, and its broader connection to global anti-money laundering (AML) and countering financing of terrorism (CFT) efforts.
Learners will gain practical knowledge on how to develop and implement effective compliance programs. This will empower professionals to contribute to a safer, more transparent financial environment in New Zealand.
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Estimated Time To Complete
Learning Outcomes
By the end of this course, learners will be able to
