{"id":1970,"date":"2018-08-01T23:46:41","date_gmt":"2018-08-01T23:46:41","guid":{"rendered":"http:\/\/alexlee.co.nz\/?page_id=1970"},"modified":"2018-08-17T03:16:32","modified_gmt":"2018-08-17T03:16:32","slug":"aml","status":"publish","type":"page","link":"https:\/\/alexlee.co.nz\/en_US\/aml\/","title":{"rendered":"AML"},"content":{"rendered":"

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Anti-Money Laundering<\/h2><\/div><\/div>[vc_column_text el_class=”align_justify_cls”]The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the \u201cAML\/CFT\u201d law) has been in force for some years now mainly affecting banks and other financial or investment entities. This reflects New Zealand\u2019s commitment to counter the impact that criminal activity has on people and economies within the global community.<\/p>\n

From 1 July 2018, lawyers are now required to also comply with the AML\/CFT Law. We must do a number of things to help combat money laundering and terrorist financing, and assist the Police bring criminals to justice.<\/p>\n

After 1 July 2018, we are required to file reports within 10 working days of receiving or paying funds internationally through our trust account, in excess of $1,000. These reports are mandatory to be filed with the FIU, the financial intelligence arm of the Police.<\/p>\n

Our obligation as lawyers is to obtain and verify information from prospective and existing clients, primarily concerning themselves and the nature of their activities. This is our \u201ccustomer due diligence\u201d (\u2018CDD\u2019).<\/p>\n

CDD requires us to obtain and verify certain information from you including:<\/p>\n