Anti-money laundering and countering financing of terrorism
The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 came into full force on 30 June 2013.
The Department of Internal Affairs supervises casinos, non-deposit taking lenders, money changers, money remitters, payroll remitters, debt collectors, factors, financial leasors, safe deposit box vaults, non-bank credit card providers, stored value card providers and cash transporters.
Purpose of the Act
The purpose of the AML/CFT Act is to detect and deter money laundering and the financing of terrorism, contribute to public confidence in the financial system, and maintain and enhance New Zealand’s international reputation.