In New Zealand, we focus so much attention on AML/CFT compliance, while other financial crimes, such as fraud, tax evasion, sanctions breaches, bribery and corruption, are overlooked and often (incorrectly) absorbed into an AML/CFT Programme.
Our businesses are the facilitators - or worse, the victims - of these financial crimes on a daily basis. We could and should be asking the following questions:
What obligations do we have to prevent and report crime outside of the AML/CFT Act?
What are we doing to prevent criminals from using our businesses for their financial crimes?
Can we be more effective in managing all financial crime risks?
This session will explain your legal responsibilities to prevent, manage and report financial crimes and provide a practical roadmap on how financial crime risk management frameworks should be implemented at an integrated level rather than in silos.
Understanding of New Zealand’s regulatory landscape for preventing, managing and reporting financial crime
Learning about the foundational principles for setting up an integrated financial crime risk management framework
Sharing experiences from overseas
This Chapter event is focused on providing attendees an insightful session to support reporting entities in preventing financial crime in New Zealand.