The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) came into effect for Accountants on 1 October 2018.
The aim of the Act is maintain and enhance New Zealand’s international reputation by the adoption of policies and regulations designed to detect and deter money laundering and the financing of criminal activity, thus contributing to increased public confidence in the financial system both at home and abroad.
As part of Legacy’s commitment to the Act, we must now adopt policies that enable us to assess the risk we may face from the actions of criminal activity and identify any potential suspicious behavior. In order to make that assessment, we will be required to obtain and verify information and undertake certain background checks before we can provide particular services to our clients.
The type of information you will be required to provide to us includes:
your full name;
date of birth; and
your current residential address.
We will need evidence from you to confirm these details such as your driver’s licence, passport or birth certificate as well as documents that can verify your address such as a current bank statement or a letter from the IRD.
If you are asking us to act on behalf of your Trust or a company, you will need to provide us with information about the business of that Trust or company as well as information about any persons associated with that Trust or company such as the trustees and beneficiaries or the directors and shareholders.
We may also need to ask for information about the nature and purpose of the proposed work you wish for us to attend to and information confirming the source of any funds for certain transactions.
Prior to the commencement of any work, we will advise you as to what information you will be required to provide. If you are unable or unwilling to provide this information to us, we may be unable to act on your behalf.
If you have any questions or concerns in regards to the above, please contact the staff member who will be undertaking the work for you.