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Guidance on AML/CFT desk-based audits released

13 February 2019

Guidance on desk-based audits of law practices under the Anti-Money Laundering and Countering Funding of Terrorism Act 2009 has been released by the New Zealand Law Society.

The guide has been written by Law Society Inspectorate Manager Lisa Attrill with inputs from the supervising Department of Internal Affairs. 

As part of its supervisory role, the department may review a lawyer's risk assessment and AML/CMT compliance programme. Desk-based reviews can be carried out, with the objective of completion within one month.

The reviews will assess compliance with sections 56 to 58 of the Act, and focus on a number of matters.

Last updated on the 16th September 2019