New Zealand Anti-Money Laundering Legislation
New Zealand became a member of the Financial Action Tax Force (FATF) in response to concerns that New Zealand could be exposed to money laundering for international criminal activities.
In 1996 the Financial Transactions Reporting Act became law and constitutes New Zealand's primary anti money laundering legislation. The Act imposes significant obligations on financial institutions with severe penal and financial consequences for breaches of the legislation.
Currently the New Zealand Government are conducting a review of this legislation in order to benchmark it to current international standards.
Click on one of the links below to read more about New Zealand trusts: