The New Zealand Law Society has released a bundle of eight sample documents to assist lawyers with compliance requirements for the introduction of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT) on 1 July 2018.
Lawyers undertaking specified activities need to ensure they have a programme in place to meet their AML/CFT requirements. The AML/CFT compliance regime for lawyers - administered by the Department of Internal Affairs - adopts a risk-based approach.
The sample documents provided by the Law Society are available for adoption by law firms. They are in the form of MS Word documents and may be downloaded from the page AML/CFT compliance templates in the Law Society's collection of AML/CFT resources and guidance.
The sample documents are intended as guides and must be adapted to take a law firm's particular circumstances into account. They should not be relied upon as definitive statements of AML/CFT legal requirements and all firms must famliarise themselves with the relevant legal requirements.
Sample documents and templates
Risk Assessment: This enables preparation and documentation of a risk assessment for a firm under the requirements of the Act.
Compliance Programme: This allows establishment and documentation of a compliance programme.
Money laundering policies: Documentation of the policies which the firm will follow.
AML reporting procedure: A document for all staff which outlines the reporting procedure.
Delayed CDD form: For delayed customer due diligence.
Exemption form: The use of this form is not a requirement under the Act but its use could be beneficial to evidence that the firm has considered whether a matter is a Captured Activity.
Matter risk assessment form: To be completed by the partner or director responsible for the matter.
Full CDD form: For full verification.
Other resources
The Law Society is directly contacting all lawyers in New Zealand by email to provide full details of the information which is available to assist them with compliance with the AML/CFT regime. Information has been regularly provided through LawPoints, LawTalk and on the Law Society website, and the Law Society will continue to keep the legal profession informed of new resources and information.