What is AML/CFT?

Anti-Money Laundering FAQs

Explore our FAQs on what is AML/CFT to find answers to your AML/CFT questions.

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What is AML/CFT and why do businesses need to comply?

AML/CFT is an acronym that’s short for Anti-Money Laundering and Countering the Financing of Terrorism. In New Zealand it also refers to the AML/CFT Act 2009, and corresponding AML/CFT obligations that businesses and individuals have under the Act, put in place to detect and deter money laundering.

When asking, "What is AML/CFT?" the answer to this question is complex, with many parts to consider. The AMLHUB team have put together this AML/CFT FAQ page to help you find the answers you need.

Explore our FAQs below for AML/CFT, and download your copy of businesses' most common AML/CFT mistakes.

What is AML/CFT? FAQ picture featuring people laundering money

Frequently asked AML/CFT questions

Below you will find answers to the most commonly-asked questions about anti-money laundering, and get our top tips on managing your AML compliance. Discover what AML/CFT is, how money is laundered, what the AML/CFT laws are, and more.

Please note: this material is provided as a reference only and does not constitute formal advice. AMLHUB takes no responsibility for decisions made based on this information. For any questions about AML/CFT law and compliance, get in touch with our Consulting Partners, AML Solutions.

9 common AMLA business guide covering 9 common AML/CFT mistakes mistakes businesses make

The AML Supervisors have a low tolerance for mistakes in AML programmes, but businesses consistently make the same mistakes every year. 

In our quick guide we break down: 

  • The 9 most common AML/CFT mistakes
  • Why businesses are making them
  • What you should do to avoid them

Get your free copy by filling out the form.

Download the Quick Guide

Manage your AML/CFT obligations seamlessly with AMLHUB

Now that you have an overview of what AML/CFT is, ensure you manage your AML/CFT obligations correctly with AMLHUB!

AMLHUB is New Zealand’s leading anti-money laundering software platform that centralises and simplifies your AML/CFT workflows in one cloud-based location.

  • No more juggling multiple spreadsheets and documents.
  • Significantly reduce time spent on AML admin.
  • Perfect for industries such as law, accounting, finance, and real estate.
  • Built by NZ's leading AML experts.

Discover how AMLHUB can help you better manage your AML/CFT obligations. Get your demo below!

Manage your AML/CFT with AMLHUB Software

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