Nationwide anti-money laundering seminars

16 August 2011

Nationwide anti-money laundering seminars help businesses prepare for new law

Financial service businesses will be learning about the need to tighten up customer identification processes and look out for suspicious financial transactions in a series of seminars around the country that started in Wellington on Monday.

The Financial Markets Authority, Department of Internal Affairs, and the Police Financial Intelligence Unit are running the seminars to help business start preparing for a new Anti-Money Laundering and Countering Financing of Terrorism law coming into effect on June 30, 2013.

The law is New Zealand's response to international efforts to combat financial crime and terrorist funding activities.

FMA CEO Sean Hughes said the seminars would introduce businesses and organisations covered by the new law to their new obligations, and to the risk assessment and compliance programmes they should now be developing.

"A key message from Australia, where a similar regime is already in place, is that it takes time to develop the policies, training and personnel required to meet the requirements. Organisations need to get on with this right away," said Mr Hughes.

FMA is responsible for the regulatory supervision of securities markets and is one of three supervisors of the new regime alongside the Reserve Bank (banks, life insurers and non-bank deposit takers) and the Department of Internal Affairs (casinos, non-deposit-taking lenders, money changers, trust and company service providers and reporting entities not covered by the other supervisors).

The seminar schedule is shown below. RSVPs can be made on FMA's website, www.fma.govt.nz . Presenters are available to talk to local journalists at the end of each event.

Ends

Contact: Nick Stride on 09 985 4868 or 021 739 052

North Island

Wednesday 17 August

12 - 2pm

War Memorial Conference Centre

Napier

Thursday 18 August

12 - 2pm

Convention Centre

Palmerston North

Friday 19 August

12 - 2pm

Dickens Inn Function Room

Whangarei

Tuesday 23 August

12 - 2pm

Sovereign Sports Super Centre Function Rooms

North Shore City

Tuesday 23 August

5 - 7pm

Sovereign Sports Super Centre Function Rooms

North Shore City

Wednesday 24 August

12 - 2pm

PriceWaterhouse Coopers

Auckland

Wednesday 24 August

5 - 7pm

PriceWaterhouse Coopers

Auckland

Thursday 25 August

11.30am - 1.30pm

Sudima Auckland Airport

South Auckland

Thursday 25 August

5 - 7pm

Kingsgate Hotel Hamilton

Hamilton

Friday 26 August

12 - 2pm

Kingsview Resort

Tauranga

South Island

Monday 29 August

12 - 2pm

Ascot Park Conference Centre

Invercargill

Tuesday 30 August

12 - 2pm

Golden Gate Lodge Cromwell

Cromwell

Wednesday 31 August

12 - 2pm

Mercure Hotel

Dunedin

Thursday 1 September

12 - 2pm

Sudima Christchurch Airport

Christchurch

Thursday 1 September

5 - 7pm

Sudima Christchurch Airport

Christchurch

Friday 2 September

12 - 2pm

Monaco Resort (Mercure Hotel)

Nelson

ends

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