Complying with Anti-Money Laundering Legislation
As part of an international effort to detect and deter money laundering and terrorism financing, New Zealand’s parliament enacted the Anti-Money Laundering and Countering Financing of Terrorism Act in 2009. Since 2013, this Act has required banks and financial service providers to seek and verify certain information from their customers. This process is often called “Know Your Customer” or “Customer Due Diligence” (CDD). From 1 July 2018, lawyers must carry out CDD.
The minimum information we need to obtain from clients will include names, dates of birth (evidenced by a current passport or a current New Zealand driver licence) and residential addresses.
If our client is a trust or company, the information gathering and verification processes will extend to trustees, directors, shareholders and beneficiaries.
As part of our verification processes, we will use the online checking service provided by Centrix.
In some cases, further investigations will need to be conducted into the source of funds for a transaction and the source of wealth of the client.
We are legally unable to commence work for clients until we have completed CDD. With that in mind, we have established a CDD team who will assist you with getting the right documents and information to us as quickly as possible so we can provide services to you. The team leader is Marzieh Cameron and her contact details are email@example.com or 09 366 1366.