The Department of Internal Affairs

The Department of Internal Affairs

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AML/CFT Newsletter

This is a quarterly newsletter of AML/CFT updates and issues for reporting entities, published by the Department of Internal Affairs' Financial Integrity team and the Financial Markets Authority.

Press Releases

A record of press releases issued by the Department of Internal Affairs' Financial Integrity team.

Media contact: Sue Ingram – Phone: 04 494 0584, Mobile: 027 541 4696

Correspondence with Reporting Entities

Roadshows

2012

The Department of Internal Affairs, the Financial Markets Authority and the Police Financial Intelligence Unit presented the 2012 AML/CFT Roadshow between 14 May and 8 June 2012.

The 2012 Roadshow was presented in two parts. Part One provided an introduction to the AML/CFT Act and covered the material that was presented in 2011. Part Two focused in more detail on selected topics related to compliance with the AML/CFT Act.

2011

The Department of Internal Affairs, the Financial Markets Authority and the Police Financial Intelligence Unit presented the 2011 AML/CFT roadshow between 15 August and 2 September 2011.

Other Agency News

Financial Intelligence Unit AML/CFT Seminar 2013

The Anti-Money Laundering Countering Financing of Terrorism Seminar 2013, hosted by the New Zealand Police Financial Intelligence Unit, will take place on 20 and 21 June 2013 at Te Papa, Wellington.

International Speakers include Rick Small (American Express), Guy Boyd (ANZ Bank), Anthony Rodriguez (AFEX) and local and overseas compliance experts.

This is a joint venture between ACAMS and the Financial Intelligence Unit.

Further information about the seminar programme and how to register:

NZ Police consultation on goAML reporting requirements

Submissions on the proposals closed on Wednesday 31 October 2012.

The New Zealand Police Financial Intelligence Unit (FIU) has published four documents for consultation. These FIU documents relate to technical requirements for a new electronic reporting system (‘goAML’) proposed under the AML/CFT Act 2009 and the Financial Transactions Reporting Act 1996.

The Reserve Bank, Financial Markets Authority and Department of Internal Affairs (the AML/CFT supervisors) are publishing the consultation documents on their websites on behalf of the FIU. This consultation is primarily aimed at IT technical staff within reporting entities that expect to report a large number of suspicious transactions.
  • The proposals include new requirements to submit Suspicious Transaction Reports (STRs) and Suspicious Property Reports (SPRs) to the FIU.
  • The fields that are proposed as ‘mandatory’ in the goAML reporting scheme are intended to be included in regulations being developed by the Ministry of Justice.
Copies of the FIU’s consultation documents are available here: Submissions and questions should be sent directly to the NZ Police FIU at goamlconsult@police.govt.nz or telephone 04-474-9499

Invitation for reporting entities to a demonstration/discussion of goAML at Police National Headquarters

RSVPs to goamlfiu@police.govt.nz closed on 1 November 2012. Police National Headquarters
15th Floor Conference Room
180 Molesworth Street, Wellington
Wednesday 14 November, 9am - 4.00pm

The New Zealand Financial Intelligence Unit (FIU) has chosen goAML as its preferred IT platform. goAML is an integrated software solution developed by the United Nations Office on Drugs and Crime (UNODC) specifically for use by Financial Intelligence Units. This software includes an electronic XML reporting interface, web reporting interface, database functions, and analytics.

Of particular interest to reporting entities is the electronic reporting function of goAML. goAML uses a standardised XML reporting schema for STRs, SPRs and Addition Information Reports. In addition to the XML functionality web based forms are provided for reporting entities that report low volumes of STRs or SPRs.

When the relevant portions of the Anti-Money Laundering and Countering the Financing of Terrorism Act 2009 (AML/CFT Act) take effect on June 30, 2013, the FIU will no longer accept manual (paper based) suspicious transaction reports (STRs) or suspicious property reports (SPRs) submissions and the current Secure Web Presence (SWP) will be decommissioned. Except in urgent circumstances (as per section 41(2) of the AML/CFT Act) all reports must then be submitted electronically to the FIU using goAML. The reporting schema and explanatory documentation for goAML will be transmitted to reporting entities that require it in the very near future.

This event will provide an opportunity for reporting entities to see the reporting functionality of goAML demonstrated and explained in detail by the designers and developers of the application from UNODC. In addition the data validation process, communication and compliance reporting aspects of the application will be demonstrated and explained. UNODC and FIU personnel will be available to answer any questions.

This event should be attended by compliance and IT personnel from reporting entities, particularly IT personnel involved in data conversion to comply with the XML schema.


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