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Package includes:

On Demand Module  l  Electronic booklet  l  PowerPoint Presentation

Package Fee (incl GST)

  • $205 - Law Society members and Associate members
  • $295 - Non-members

Note: Access to the online files is via your "My CPD" page. If you would like to purchase multiple packages, please contact us here.

On Demand Module

Presentation time: 120 minutes
2
CPD HRS

This module will cover AML/CFT issues with significant implications for law firms including recent regulatory changes, proposed amendments to the AML/CFT Act, and levy and supervision proposals. The module will also contain suggestions for managing AML/CFT compliance costs for managing audits, and engaging with Department of Internal Affairs (DIA) as a supervisor.

Learning objectives

By completing this module you will:

  • Find out about key changes to tax law policy and interpretation.
  • Have a deeper understanding of current AML/CFT developments with best practice guidance.

Electronic paper 

Authors: Neil Russ, Serge Sablyak
Published: 28 July 2025
Pages: 79

Introduction

This paper is intended to assist New Zealand lawyers to understand, and to meet, the significant compliance obligations related to the detection and prevention of money laundering and terrorist financing. It aims to articulate the key concepts and provide a comprehensive overview of the challenges and processes associated with anti-money laundering (AML) and countering the financing of terrorism (CFT) in New Zealand. It discusses the application of AML and CFT legislation to legal practitioners and law firms.

The paper is also intended to act as a starting point for the discussion of possible future developments, problem areas and practical strategies and mechanisms which law firm reporting entities can take to make the compliance, reporting and record keeping processes as efficient as possible.

Meeting the compliance requirements is a substantial exercise, which remains manageable with appropriate understanding and processes. The initial step in ensuring compliance is to appreciate the broader context within which these obligations arise.

Lawyers should recognise that they form part of a larger group of professionals and businesses working to meet similar compliance standards. The roles of the Department of Internal Affairs (DIA) as sector supervisor, and the New Zealand Law Society (NZLS) as a regulatory body and as an advocate for the legal profession, are discussed, in that wider context.

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) takes a risk-based, principled approach to AML and CFT, which means it is not as prescriptive as many other New Zealand laws. Consequently, it requires a broad and purposive approach to interpretation, and reference to a range of materials such as other legislation, regulations, codes of practice and ministerial exemptions. A reporting entity must assess the risks its business is exposed to and apply suitable procedures, policies and controls to effectively manage these risks. Compliance resources can be targeted primarily towards the high-risk areas of the reporting entities business, reducing overall compliance costs.

PowerPoint Presentation

These are the slides included in the presentation.

RUSS Neil-225    
Neil Russ
Russ + Associates
Auckland		 Serge Sablyak
Department of Internal Affairs
Wellington		  

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