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New Zealand to Extend AML Efforts

Jaclyn Jaeger | July 13, 2015

The New Zealand government has begun preliminary work to extend anti-money laundering compliance obligations on more professions and companies, including lawyers, accountants, and businesses that deal in high-value goods.

Amy AdamsThat revelation comes as the number of suspicious transactions reported to the country’s law enforcement agencies has increased threefold since 2013, when New Zealand introduced the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT), which marked a “major overhaul of our regime,” said Justice Minister Amy Adams in a keynote address July 13 at the Asia Pacific Group on Money Laundering in Auckland.

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