Bruce Horwood 10/17/24 Bruce Horwood 10/17/24

AML-CFT-Programme

Bruce Horwood 6/23/21 Bruce Horwood 6/23/21

Regulatory changes

Expiring regulations - regulatory changes effective 9 July 2021

Bruce Horwood 6/4/21 Bruce Horwood 6/4/21

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.

Bruce Horwood 5/11/21 Bruce Horwood 5/11/21

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.

Bruce Horwood 4/30/21 Bruce Horwood 4/30/21

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.

Bruce Horwood 4/22/21 Bruce Horwood 4/22/21

DIA Regulatory Findings Report 1 July 2019 – 30 June 2020

Areas for improvement and 4S AML’s observations:

Bruce Horwood 4/22/21 Bruce Horwood 4/22/21

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.