The Evolution of Social Media Law
Introducing Kerry Wood

Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT)

If this all seems rather distant and unecessary, then ponder this story, which alleges that New Zealand companies have been implicated in the export of arms from North Korea. Goodness knows where they were going or what they were going to be used for but, you don't want to be involved in that.

In fact, perhaps New Zealand is more of a target because we are perceived as being a nice, sleepy, peacable place where one might be able to get away with something dodgy, like picking up a couple of spare passports.

But that's not your worry, you need to be concerned with what to do when Sheik Ya Booty's cousin pops on down to get some advice on how to launder, ahem, I mean invest his money. What money? Why, the money in this case right here!

Well, the FMA has produced a handy guide, well worth a read, on how smaller advice businesses can help by managing their compliance responsibilities with the AML / CFT Act.

 

 

 

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