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AML/CFT Lawyers and Conveyancers Guidance from DIA now available

14 December 2017

The Department of Internal Affairs has released the Guidance for the Anti-Money Laundering and Countering Financing of Terrorism Act for lawyers and conveyancers.

Full details can be found on DIA’s website here.

It says many lawyers and conveyancers would have tuned in on 28 November for the webcast on AML/CFT given by Kate Reid, who is DIA’s Director for the Phase II Implementation Programme.

"We estimate that nearly 2,000 people watched the webcast and judging from the questions and feedback we received, it is clear that this was well timed and well appreciated by many of you.  

If you’ve not received it already, your firm will be receiving an email from DIA containing a link to the Lawyers and Conveyancers Guidance and other information outlining the resources and activities planned to help you prepare your compliance programmes," the DIA says.

Early in 2018, DIA will be running a series of roadshows throughout the country to further reinforce and explain the guidance.

The DIA says the Sector Risk Assessment (SRA) for Phase II reporting entities is another important piece of guidance which will also be available before Christmas, along with other updated guidance.

"Make a note to visit DIA’s website regularly and see what’s new. These resources will increase your awareness of money laundering and terrorist financing (ML/TF) risks and help you understand your compliance obligations.

"With the SRA and Guidance you can now begin the task of preparing your compliance programme beginning with the task of appointing a compliance officer who will be DIA’s contact person in the future. Remember, the legislation comes into force from 1 July 2018," the DIA says.

DIA will be in touch in the New Year to request further information specific to firms but in the meantime it is encouraging people to contact them by emailing AMLPhase2@dia.govt.nz if people have any queries.

"DIA will respond in the New Year and group recurring questions into a collective response. In the meantime, take a good look through the Guidance and encourage your colleagues to also read through it as this will be the best way to get to grips with AML/CFT," it says.

Last updated on the 16th September 2019