Look up global fraud and AML regulations

Requires covered businesses to conduct KYC at account opening, verify ultimate beneficial owners of corporate customers, and file STRs to JAFIC.

Mandates real-time automated fraud monitoring and detection systems for all covered financial institutions, proportionate to transaction volume and complexity.

Financial intermediaries must verify customer identity, identify the ultimate beneficial owner (UBO) of legal entities, establish the purpose and nature of each business relationship, and report to MROS when facts suggest assets are proceeds of a predicate offense.

AMLO operates as both FIU and investigative authority. Covered entities must conduct CDD, report suspicious transactions to AMLO, and maintain records for 5 years.

Most sweeping AML reform since the BSA.

Regulated entities must enroll with AUSTRAC and implement an AML/CTF program (Part A: risk-based board-approved policy; Part B: KYC procedures).

Requires covered entities to conduct CDD (identify and verify customers and beneficial owners), perform ongoing monitoring of business relationships, and maintain records for at least 6 years.

Reporting entities must conduct CDD, verify customer identity and beneficial ownership, monitor transactions for suspicious activity, and file suspicious activity reports (SARs) with the NZ Police Financial Intelligence Unit (FIU).

Modernized AML framework replacing the 2012 law, effective March 1, 2023. Requires CDD, beneficial ownership identification for legal entities, ongoing transaction monitoring, and STR filing with the SBV Anti-Money Laundering Department.