Published on: April 30, 2021
FATF's Mutual Evaluation Report on New Zealand's AML/CFT regime was released overnight and is making headlines this morning.
To a large extent, FATF is complimentary of New Zealand's AML/CFT regime, stating that the system is effective in many respects. However, FATF identifies seven priority actions which are likely to have a significant influence on the shape and enforcement of the regime going forward:
The 260-page Report is essential reading for everyone engaged in AML/CFT compliance and enforcement in New Zealand. The Report will be a cornerstone document for the now imminent statutory review of the AML/CFT Act, and also acts as a welcome new source of guidance on the interpretation of the regime as it currently stands.
Partner, Banking and Finance
Banking and Finance