AML/CFT Statutory Review Consultation 2021

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Have your say and let us know what you think about the current Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) legislation.

Money laundering is the process criminals use to “clean” the money they make from crimes such as dealing in illegal drugs, fraud and trafficking. It is estimated over $1 billion is laundered through New Zealand businesses each year, which our current legislation – the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 is in place to address.

In July, Ministry of Justice was asked to review these laws. While the AML/CFT Act aims to keep New Zealand safe from money laundering and terrorism financing, we know it can also create challenges for people going about their daily lives and it is important we understand these issues as part of this review.

Submissions closed 3 December 2021.

The Consultation Document and the online survey, on the Ministry of Justice’s website, where you can have your say here: AML/CFT Laws Review Consultation (Ministry of Justice website)

For more information on AML/CFT Act Law Reform and a frequently asked questions section, please visit the Ministry of Justice’s website here: More Information and  Frequently Asked Questions (Ministry of Justice website)

See also: Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) legislation (Legislation website).