AML in New Zealand – what you need to know as a client.
If you are a client of a law firm, you will be familiar with the requests to bring in photo ID and proof of address and the requests to keep these updated. There is an important reason for these requests.
Lawyers in New Zealand must comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act). This essentially means lawyers have an obligation to “know their client” to help combat the serious problems of money laundering and terrorism financing and ensure the integrity of the New Zealand financial system.
How does this affect you as the client?
This means that before we undertake any services with you that are captured by the AML/CFA Act, we are required to complete a client due diligence process. For you, this means you will have to provide us with photo identification and proof of address. In some circumstances, we may also require proof of wealth or source of funds.
When you become a client with us, we will ask you to bring in documents so a solicitor can certify them.
Acceptable forms of ID include:
Acceptable forms of proof of address include:
Your proof of address needs to show your current and address and must be within 12 months of being presented.
We know these requests can be a little frustrating or confusing at times. If you do have any questions about what is required, your solicitor and our reception team are well-equipped to guide you on the correct documentation to bring in.