Anti-money laundering

Anti-money laundering questions and answers

What are anti-money laundering laws?

The Government introduced the Anti-Money Laundering and Countering Financing of Terrorism Act in 2009 (AML/CFT Act). This law requires businesses that provide certain financial services to identify their customers before providing a service, and to report both suspicious transactions.

What is money laundering?

Money laundering is the process criminals use to disguise the source of illegally obtained money so that it appears to have come from legitimate sources.

What is terrorist financing?

Terrorist financing is the act of providing financial support to terrorists or terrorist organisations to enable them to carry out terrorist acts.

What do these laws set out to do?

New Zealand has implemented these laws to improve its existing anti-money laundering and counter terrorism financing system and bring it in line with international standards. The laws will make it difficult for criminals to use the profits of crime and terrorists to receive money for use in terrorist acts

What are the requirements of the legislation?

When applying for a new product or service, individual investors must provide verification information such as a certified copy of a passport or driver’s licence. For non-individuals such as companies and trusts, more information will be required, for example a certified copy of a Companies Office certificate of incorporation or trust deed.

What are the products and services covered by the laws?

All financial services providers offering products covered by the legislation, including managed investments, superannuation and shares in a listed company or trust, must meet the customer identification requirements. As such all AMP Capital products are covered.

How will AMP Capital safeguard information?

All financial services providers covered by the legislation are required to keep client information in a safe and secure environment, as required by the AML/CFT Act and the current New Zealand privacy legislation. We will process your personal information in accordance with our privacy statement and New Zealand privacy laws.

Important notes

This content has been prepared for the purpose of providing general information only, without taking account of any particular investor’s objectives, financial situation or needs. Investors should, before making any investment decisions, consider the appropriateness of the information on this website, and seek professional advice, having regard to their objectives, financial situation and needs. All information on this website is subject to change without notice. 

AMP Investment Management (N.Z.) Limited (FSP37681) is the manager and issuer of the various AMP Capital Investment Funds offered through this website. Product Disclosure Statements for the funds are available and can be obtained from the Pricing and Performance page.

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