AML Audit

Anti Money Laundering (AML/CFT) Audit

Ensure your procedures are compliant.

What is AML/CFT?

The Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act) was originally enacted in 2009 and obligated New Zealand's financial institutions and casinos to put robust procedures in place to detect and deter potential money laundering and terrorism financing activity. In 2017, the Act was amended to include certain non-financial businesses and professions.

What does the Act mean for me?

There are several categories of 'non-financial' businesses now included in the Act. View the full 2017 amendment here. The most common businesses now included are lawyers, accountants, bookeepers, real estate agents and conveyancers. You MUST now comply with the Act and ensure you have a robust procedure in place that is audited regularly by an external entity.

These independent audits must be conducted at least every 2 years, or when requested by your AML/CFT supervisor. Your first audit must occur within 2 years of the new legislation coming into effect for your profession:

  • Lawyers, Solicitors and Conveyancers - audit must be completed within 2 years of 1 July 2018
  • Accountants and Bookeepers - audit must be completed within 2 years of 1 October 2018
  • Real Estate Agents - audit must be completed within 2 years of 1 January 2019

Your AML audit will determine whether your risk assessment and procedures meet minimum requirements, whether the procedures were effective and fit for purpose during the time period between audits and whether any changes are needed going forward.

We can help.

Gener8 falls under the AML/CFT Act, so we have our own procedures in place. We know it is a time-consuming, confusing undertaking, but we have experienced team members who can audit your policies, procedures and controls and provide guidance on any inadequacies. Additionally, we encourage you to look at your procedures sooner rather than later. You are allowed to undertake your audit well in advance of the 2-yearly deadline, and we believe there are a few good reasons to do so:

  • Conduct the audits when YOUR schedule suits with regard to time and cash flow.
  • Sleep easy knowing you've picked up any possible non-compliant procedures early.
  • Be proactive and demonstrate to your AML/CFT supervisor that you are conscientiously seeing to your obligations.
  • It helps US help YOU by staying in touch regularly between audits so that we can keep your audit costs down.
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Gener8 AML Audits

Our team of experts are here to support you every step of the way was you work to ensure your AML procedures are up to scratch.

FEATURES INCLUDE

Dedicated AML Audit Specialist
Initial consult to identify your specific needs
Delivery of your audit report
Unlimited access to your audit specialist
Access to Gener8's wider team of experts
Automated audit reminders

$P.O.A.

Gener8 Reviewing Solutions have your back.

What's in it for me?

  • Ensuring your AML process is robust and protects your organisation from fraudsters
  • Support to identify areas of weakness with clear suggestions for remediation
  • Structured advice and support when you need it
  • Access to your Audit Specialist as needed by email or phone for specific questions
  • Automated reminders to re-audit every 2 years to remain complaint - you never have to worry about missing an audit
  • Access to Gener8's extended team of trusted professionals in the areas of Leadership & Communication Training, Coaching, Health & Safety, Insurance, HR and Wealth Management

Expectations:

  • What you can expect of Gener8 Reviewing Solutions
    • 100% confidentiality
    • Bringing all resources at our disposal to the table for the benefit of your organisation
    • Being on-time and prepared for all meetings
    • Being available by phone or email during the process as needed
  • What Gener8 Reviewing Solutions expects of you:
    • 100% commitment to the process
    • Maintaining your financial commitment
    • Being on-time and prepared for all meetings

 

GENER8 YOUR SOLUTIONS

Depending upon your needs, we have solutions to fit your unique situation. Click here for more information about how we can help you.

CONTACT US NOW

Contact us today





 

Address

182 Teasdale Street, Te Awamutu 3800 New Zealand

 

Phone

+64 7 872 0566

 

Email

learnmore@gener8reviewing.solutions