News

Keep informed about the latest news in the world of AML/CTF.

Featured
AML-CFT-Programme
AML-CFT-Programme
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Regulatory changes
Regulatory changes

Expiring regulations - regulatory changes effective 9 July 2021

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AML/CFT Audits
AML/CFT Audits

If you haven’t already done so, remediate your audit findings now. Don’t make the mistake of leaving it till after 30 June.

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Enforcement action
Enforcement action

Enforcement action taken against Qian DuoDuo Limited – interim injunction granted by Auckland High Court to prevent the remittance business from acting as a reporting entity.  Its director has also been prevented from holding a senior management or compliance officer role in any other reporting entity.  The matter is now before the court.

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Mutual Evaluation of NZ
Mutual Evaluation of NZ

The Financial Action Task Force (FATF) and the Asia Pacific Group (APG) assessment on New Zealand’s AML/CFT system concludes that NZ’s measures to combat ML and TF are delivering good results but the country needs to focus more on improving the availability of beneficial ownership information, strengthening supervision and implementation of targeted financial sanctions.

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DIA Regulatory Findings Report 1 July 2019 – 30 June 2020
DIA Regulatory Findings Report 1 July 2019 – 30 June 2020

DIA Regulatory Findings Report 1 July 2019 – 30 June 2020

Areas for improvement and 4S AML’s observations:

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DIA Targeted Compliance Assessments – PEP thematic
DIA Targeted Compliance Assessments – PEP thematic

The DIA recently undertook a review of policies, procedures and controls relating to politically exposed persons.  50 reporting entities were targeted, comprising 34 lawyers and 16 real estate agents.

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Contact us to discuss your AML compliance and risk management needs, or enquire about the services and solutions we can offer.

Bruce Horwood
4S Consulting Limited
Director

bruce@4Saml.nz
021 227 6222

Hub 1, 42 Don Street,
Invercargill 9810
New Zealand

Registered office: 52 Swan Road, Riverton 9883

 

WHAT OUR CLIENTS ARE SAYING

We engaged Bruce Horwood from 4S Consulting Limited to complete our first audit under the new AML/CFT regime for accountants. Bruce has a real passion for the legislation and was able to offer great insight and recommendations to ensure our AML/CFT compliance programme was strengthened and fully compliant moving forward. We would recommend Bruce to anyone needing help of any kind with the AML/CFT legislation, he was great to work with and knows the legislation extremely well.”

Brendon Harrex - Director, Harrex Group