From 1 October 2018, we may ask you for more information regarding your identity or regarding your business.

Why we need to ask for information:
New Zealand has passed a law called the Anti-Money Laundering and Countering Financing of  terrorism Act 2009 (“the law”). The purpose of the law reflects New Zealand’s commitment to the international initiative to counter the impact that criminal activity has on people and economies within the global community.

Recent changes to the AML/CFT Act mean that from 1 October 2018, accountants are required to comply with its requirements. This law requires accountants to do a number of things to help combat money laundering and terrorist financing, and to help Police bring the criminals who do it to justice. The AML/CFT law does this because the services accounting firms and other professionals offer may be attractive to those involved in criminal activity.

The law says that accounting firms and other professionals must assess the risk they may face from the actions of money launderers and people who finance terrorism and to identify potentially suspicious activity. To make that assessment accountants must obtain and verify information from prospective and existing clients about a range of things. This is part of what the AML/CFT law calls “customer due diligence” (‘CDD’).

CDD requires an accounting firm to undertake certain background checks before providing services to clients. Accountants must take reasonable steps to make sure the information they receive from clients is correct, and so they need to ask for documents that show this.

We will need to obtain and verify certain information from you to meet these legal requirements. This
information includes:
• your full name; and
• your date of birth; and
• your address.

To confirm these details, documents such as your passport (preferably), driver’s licence or your birth certificate, and documents that show your address, such as a current bank statement or utility bill will be required.

If you are seeing us about company or trust business, we will need information about the
company or trust including the people associated with it (such as directors and shareholders, trustees and beneficiaries). We may also need to ask you for further information.

Please contact Patricia(patricia@tia.nz) if you have any queries or concerns.

Anti-money Laundering & Countering Financing of Terrorism