FMA: Anti-money laundering and countering financing of terrorism monitoring report

FMA(NZ): This report summarises our monitoring activities to help firms and individuals better understand our expectations and how they can improve their systems and processes, to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the Act). This report covers the period from 1 July 2015 to 30 June 2016. It was our third year of monitoring compliance with the Act. We focused on:

• on-going customer due diligence • identification and monitoring of high-risk customers

• governance and management oversight. We chose to focus on these areas based on our observations from previous monitoring and analysis of annual return information. Governance and management oversight is part of our focus and aligns with our strategic priorities.

 

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