The Anti Money Laundering and Countering Financing of Terrorism (AML/CTF) Act 2009 will impact upon accountants and lawyers whom conduct business in New Zealand.

The legislation is operative as from 1 October 2018.

Accounting firms will be required to appoint a compliance officer, perform risk assessments, develop an appropriate programme and report suspicious transactions.

The legislation and its impact is similar to that enacted in the United Kingdom.

Information pertaining to programmes and risk assessments may be obtained from Polemic Forensic.