Suspicious Activity Report released by Financial Intelligence Unit
28 August 2020
The Suspicious Activity Report, July 2020, has been released by the NZ Police Financial Intelligence Unit.
The Financial Intelligence Unit (FIU) receives and analyses information contained in reports submitted by reporting entities including Suspicious Activity Reports and Prescribed Transaction Reports.
“Reporting entities play a key role in detecting criminals who launder money to hide the proceeds of their crime” says Detective Inspector Christiaan Barnard. “Denying criminals access to our financial system is a key outcome of the AML/CFT system to prevent harm to New Zealand communities and New Zealand’s international reputation”.
Reporting entities accepting large amounts of cash without undertaking effective customer due diligence is an issue the FIU has highlighted. In addition, the report highlights that many reporting entities are not selecting indicators when using the FIU platform goAML. Access the report (PDF, Police website)
