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.
Learning objectives
- 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.