Our Anti-Money Laundering Policy.

Why we need to ask you for information.

While many may think money laundering happens elsewhere, New Zealand’s clean green image (which extends to our business dealings) is attracting the wrong sort of attention. 

New Zealand’s Anti-Money Laundering and Countering Financing of Terrorism Act 2009, or AML/CFT law, is based around New Zealand’s commitment to an international initiative to counter the impact of criminal activity on people and economies within the global community.

As accountants, we are obliged to conduct client due diligence to verify your identity for particular transactions (detailed in the Act). This means that even though we may have an existing relationship with you, we may request more documents or different documents.

  • Forms of identification (for example, your passport or driver’s licence)

  • Proof of your address (for example a recent utility bill or rates invoice)

  • Your occupation and where you do business

  • Whether you reside in a high risk jurisdiction

  • Whether you are a politically exposed person (PEP)

  • Proof of sources of funds and/or wealth may be required

We may require further information that is dependent on your specific services. For companies and trusts, we will require additional information regarding directors, shareholders, trustees and beneficiaries. We will need to ask you about the nature and pur­pose of the proposed work you are asking us to do for you. Information confirming the source of funds for a transaction may also be necessary to meet the legal requirements. We may also need to ask you for further information.

Please do not be offended if we ask for any of the above documents. As accountants, complying with these regulations is not optional. We thank you in advance for your patience in this new era of vigilance. 

If you have any concerns about the Act or would like to discuss your situation, please contact our AML Compliance Officer on 09 407 7117 or by email jenny@wwc.co.nz