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Government Launches Keep Our Money Clean Campaign

Government Launches Keep Our Money Clean Campaign


The Government has launched a public information campaign called ‘Keep Our Money Clean’ that explains the requirements for various industries to comply with phase two of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Act 2009.
Phase one of the Act has been in force in 2013 and applies to banks, casinos and a range of financial service providers.
Phase two of the Act extends to lawyers, conveyancers, accountants, real estate agents, sports and race betting, and businesses that deal in certain high-value goods.
Since July 1st, lawyers and conveyancers are required to verify the identity of their clients in order to comply with the Act.
The verification process can take days, if not weeks, particularly if companies or trusts are involved so it’s important to be aware of the new requirements as early as possible.

You can read more here: https://www.keepourmoneyclean.govt.nz/