At AMLHUB, we understand that success in the fight against financial crime is not achieved in isolation. It is built through collaboration, commitment, and a shared purpose. Recently, our team came together to mark a significant milestone: a celebration of our journey, growth, and the people who have made it all possible.
If your business is captured under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) you are required to assess your exposure to financial crime and implement effective mitigation strategies. Two critical documents underpin this: the risk assessment and the compliance programme.
Since 1 June 2025, Individual Customer Risk-Rating (ICRR) was mandated for all reporting entities under New Zealand’s AML/CFT framework – both at onboarding, and to be considered as part of ongoing Customer Due Diligence (CDD).
Customer Due Diligence (CDD) Outsourcing means handing over some or all your CDD to a trusted partner. Instead of managing the process entirely in-house, you can collaborate with experts on things like onboarding checks and risk-rating to ongoing monitoring and record keeping.
As we approach the next reporting cycle, now is a good time to start preparing your AML/CFT annual report.
Join us in celebrating the 10th Anniversary of the AML Summit!
Both Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) are key components of AML/CFT regulations that are designed to prevent money laundering, terrorist financing, and other financial crimes. These processes are used by reporting entities to assess and verify the identity of their customers.
As of June 2025, new Anti-Money Laundering regulations will require all Reporting Entities to adopt a Customer Risk-Rating process, marking a shift towards a more risk-based approach to financial crime prevention.
Each reporting entity under the AML legislation must lodge their annual AML/CFT report with their Supervisor any time between the 1st of July to the 31st of August. Remember, there are no extensions to this deadline.
As part of onboarding your clients you need to prove their identity. While electronic verification is popular these days, many individuals are still using certified documents. Learn what requirements need to be fulfilled to accept certified documents as proof of identity.
