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AML / CFT Requirements

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Anti-Money Laundering and Countering Financing of Terrorism Act 2009

On 1 July 2018, lawyers and conveyancers became reporting entities under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 (“Act”). This applies to Law Finity.
The purpose of this Act is to detect and deter money laundering and financing of terrorism pursuant to New Zealand’s international commitment to counter the impact of money laundering, financing of terrorism and bringing criminals to justice. The Act puts practical measures in place which makes it difficult for perpetrators to profit from and fund illegal activity; and to restrict funds to terrorist organisations.
Law Finity is required to comply with the requirements of this Act so that we are able to detect and deter criminals from using our services. As lawyers, we must assess the risk we may face from the actions of money launderers and those who finance terrorism; and identify potentially suspicious activities.
To carry out risk assessments, we are required to complete a “customer due diligence” (CDD) for all clients whether an individual, a company or a trust. This may include:
  • Background checks on all clients including obtaining and verifying specific identification and proof of address
  • Confirming the nature and purpose of the proposed work you are engaging us to do for you
  • Obtaining information confirming the source of funds for a transaction and verification of that source of funds
  • Obtaining and verifying information from those not represented by a law firm paying into our trust account.
If we are not able to collect and verify this information or if you do not provide them, the Act precludes Law Finity from being able to act for you.

What you need to bring?

Prior to us commencing work for you, you are required to bring the documents listed below. All the required documents must be brought to us by each individual for verification. You can also provide us certified copies of the original documents but please ensure that certification is done by trusted referees.

Individuals

Proof of Identity documents
Option 1 Option 2 Option 3

one of:

  • Current NZ passport
  • Overseas passport
  • Firearms licence
  • New Zealand certificate of identity
  • Emergency travel document
  • Foreign issued national identity document
  • NZ Driver Licence

and one of:

  • Full birth certificate
  • Citizenship certificate
  • Bank credit card (embossed and signed)
  • Bank account statement
  • Police/NZ Defence ID card,
  • SuperGold card
  • Document issued by a NZ government agency.
  • NZ Driver Licence; or
  • Kiwi Access Card (18+ card)

and one of:

  • NZ or overseas full birth certificate,
  • NZ or overseas Citizenship certificate
  • New Zealand Government issued identification.

Proof of address documents

Any one of the documents dated in the last 3 months:

Utility bills (Rates, water, telephone, gas, sky or electricity invoice)

Credit card/bank statements from an active account

IRD notices

Tenancy agreement confirming your residential address

Car registration

Rates notice
Bank account number
A recent bank statement or letter from your bank showing your bank account number.

Company

For each Director and any Shareholder owning company shares of 25% or more:
  • Any proof of identity documents listed under options 1, 2 and 3 above
  • Any proof of address documents listed above
For the Company:
  • A recent original copy or certified copy of a bank statement or other document showing the company’s bank account number
  • A document showing the Company’s IRD Number

Trust

  • For each Trustee:
  • Any proof of identity documents listed under options 1, 2 and 3 above
  • Any proof of address documents listed above
  • The full names and dates of birth of each beneficiary of the Trust.
  • A recent bank statement confirming the Trust’s bank account number
  • The Trust’s IRD Number