Anti-money Laundering

Money laundering affects everyone, everywhere. The proceeds of every single crime need to be laundered, and no matter what sector that money goes into, this distorts the market as a result. This is why Tax Advantage is proud to bring you a very comprehensive AML/CFT audit which will help you meet the legal requirements and comply with the law.

What Are The AML/CFT Regulations?

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 and regulations require certain businesses to put appropriate measures in place to help detect and prevent money laundering and the financing of terrorism. It aims to protect the reputations of both individual businesses and New Zealand as a safe country to conduct business in.

Under Section 59(2) of the AML/CFT Act a reporting entity must ensure that its risk assessment and AML/CFT programme are audited every 2 years and under Section 59B that audit must be carried out by an independent person. The reporting entity must provide a copy of any audit to the AML/CFT Supervisor upon request.

If your organisation provides services which are captured under the Act, you must establish an AML/CFT Risk Assessment and Compliance programme and have itĀ audited every two years or as otherwise stipulated by your AML/CFT supervisor. In order to ensure complete independence, the experts who assist organisations with developing their AML/CFT Compliance programme are not permitted to conduct the audit of the programme. This is where we come in.

How We Can Help: AML/CFT Compliance Programme Audit

As AML auditors, Tax Advantage can conduct expert, independent statutory audits of your programme to ensure full compliance with the Act. We are experienced and have knowledge of your industry and the specific demands the Act places on your organisation. This puts us in the strongest position to ensure that your audit is not only efficient but completely effective. We work tirelessly to ensure you’re meeting your risk and compliance obligations.

AML/CFT Online Audits

Our systems and processes have adapted to allow us to conduct thorough, independent AML/CFT audits online.

Our AML / CFT audits include:

  • Pre-audit checking of your documentation to ensure it fully aligns with the Act.
  • Independent, comprehensive AML/CFT Compliance programme audits.
  • Identification of issues with recommended actions for resolving those issues.
  • Assistance with implementing recommended actions.

Although our AML audit process is efficient and carried out with minimal disruptions, it is also extremely thorough. It provides you with complete peace of mind in meeting your AML/CFT requirements.

Baptist Lobo - Tax Advantage

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