The Department of Internal Affairs (DIA) is the AML/CFT supervisor for designated non-financial business or professions (DNFBPs) in New Zealand. As New Zealand prepares for its next Mutual Evaluation assessment by the Financial Action Task Force (FATF), who are the global supervisor for money laundering and terrorist financing, there are a couple of key reminders DIA would like to share with the accounting sector.

Do you conduct any of the captured activities under section 5 designated non-financial business or profession of the AML/CFT Act?

If the answer is yes, then we encourage you to register for AML Online, if you haven’t already. AML Online is a secure platform for businesses to engage with DIA to submit annual reports, log enquiries and receive important updates that will help strengthen the AML/CFT system and keep our money clean.

To find out what specific business activities are “captured”, please review the Guideline for Accountants.

For more information on how to register for AML Online, please visit: AMLOnline - dia.govt.nz or email us at [email protected] if you have any questions.

Are you registered for goAML?

It is important that you regularly check your AML/CFT obligations, even if you believe that an exemption may apply to you under the AML/CFT Act, your business may still have obligations to submit a  Suspicious Activity Report (SAR).

The goAML system is the only way to file a SAR to the New Zealand Police. A SAR must be submitted no later than three working days after reasonable grounds for suspicion are formed. If you do not file a SAR when required, or if you file one late, there could be substantial penalties for your business. We encourage you to get ahead of suspicious activity and get registered for goAML.For more information on how to register for goAML, please visit: https://fiu.police.govt.nz/Home.

It’s important that law firms regularly check their AML/CFT obligations. Having effective systems in place that strengthen our country’s financial system is in everyone’s best interests. This will ensure that New Zealand keeps the overall high standards on the areas we are being assessed in as part of the next mutual evaluation.