Anti-Money Laundering News and Insights

Stay up-to-date with Anti-Money Laundering news and insights from New Zealand's AML experts. Learn more about the ever-changing AML world, and get the latest tips on how you can manage your AML obligations.

Posts about Customer Due Diligence:

Six common CDD mistakes (and how to avoid them)

Six common CDD mistakes (and how to avoid them)

The AMLHUB outsourcing team manages the outsourcing for many New Zealand reporting entities. We have good oversight over the things that go right, and the ways it can go wrong.

Keep reading to learn about the six most common mistakes made in customer due diligence (CDD), and how you can avoid them. Plus, download your copy of the ID Document Guide.

This blog was updated 12 February, 2024.

Plugging the gaps in your AML programme

Plugging the gaps in your AML programme

Supervisors’ tolerance for gaps in AML programmes shortens

On August 2021, the FMA issued its AML/CFT Monitoring Insight Report for 2018 to 2021. The Director of Supervision noted that the AML/CFT regime has now matured to such an extent that the FMA has less tolerance for AML non-compliance. In other words, businesses are expected to have a strong handle on meeting their AML/CFT obligations.

We can expect this view to be true for the other Supervisors: DIA and RBNZ.

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