The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT) is the primary legislation intended to satisfy New Zealand’s international obligations to combat money laundering. The Act establishes the grounds for prevention, detection, investigation and prosecution of money laundering.
This course will help you understand the various identification and reporting obligations of the Act as well as related legislation such as the Terrorism Suppression Act 2002. Key concepts and obligations are set out, from corporate compliance, customer relationships, and customer due diligence to suspicious transactions and the suppression of terrorism.
Employees of financial institutions need to understand their obligations under the Act to ensure all reasonable steps are taken to deter their institution and its products and services from being used by a person who is laundering money.
Who is this training for?
You should complete this course if you are involved in a compliance or risk management function, with the processing of financial transactions or with the opening of accounts at a financial institution or casino.
- Module 1: Introduction to money laundering
- Module 2: Money laundering risks
- Module 3: Customer Due Diligence
- Module 4: Monitoring and Reporting Obligations
- Module 5: Terrorist financing