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SIMPLIFYING COMPLIANCE WITH NEW ZEALAND’S ANTI MONEY LAUNDERING REQUIREMENTS

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 has been in effect since 2013. Initially, it mainly applied to financial institutions such as banks finance companies, brokers and financial advisers. It was recently amended to apply to lawyers, conveyancers, accountants, real estate agents, sports and race betting, and businesses that deal in certain high value goods.

The purpose of this act is to give  the police actionable intelligence about crime and terrorist financing, ideally to reduce the harm to society from crime and terrorist acts.

If you are caught by the AML/CFT Act, you may find that compliance with the Act can be daunting and expensive. We have engaged two subject matter experts who can help you to understand your core obligations and reduce your compliance cost by simplifying your mandatory obligations.

Even if you are not a reporting entity under the AML/CFT Act, you will find it informative to better understand your business risks, the information you may need to provide to your banks and to hear how the police have used this information to launch successful investigations.

Our Guest Speakers for this event are:

Experts: 

Uddhav Kirtikar: CEO, Compliance Plus; Director, Maxima (FinTech)

Over 17 years working for NZ regulators and public sector entities, Uddhav played an important part in establishing the AML/CFT regime. He was FMA’s lead writer for most of the AML/CFT guidelines published jointly by the Financial Markets Authority, Department of Internal Affairs and the Reserve Bank of New Zealand. He also assisted in designing the templates and process that FMA used when it commenced its AML/CFT supervisory work. It is this understanding that he offers Compliance Plus clients. He has also been called by the NZ Courts as subject matter expert in client cases.

 

Patrick Goggin: Senior Consultant, Compliance Plus, auditor/advisor on AML & CRS, Ex-head of IR Investigation and legal groups, IMF tax expert  

Patrick is a highly experienced senior manager/executive with experience as CFO governing business transformation, organisational performance, and has extensive professional experience leading regulatory compliance, business change and transformation projects and finance/corporate groups. He has governance (and practical tax experience) on key IR Boards: business performance, strategy, programme, technical governance, tax disputes, rulings, CRS/FATCA and analytics.

 

 

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