The Anti-Money Laundering and Countering of Financing of Terrorism Act 2009 (“AML/CFT Act”) came into effect on 1 July 2018.
As a law firm, we are required by the AML/CFT Act to assess and manage risks associated with financial crime. This means we must complete client due diligence (“CDD”) before undertaking certain transactions.
Why AML Matters
MWIS Lawyers is committed to protecting our clients and the wider community from money laundering and terrorism financing.
What Does This Mean for You?
- For many common legal transactions (such as property purchases, business sales, trust or company formation, and estate matters), we are required to collect specific information from you before we can act.
- This process helps us verify your identity, understand the nature of your transaction, and ensure compliance with New Zealand law.
How Do We Verify Your Information?
To make the verification process as simple and secure as possible, MWIS Lawyers may use trusted third-party providers:
- Aplyid: We use Aplyid’s biometric technology to verify your identity and conduct Politically Exposed Person (PEP) and sanctions checks.
- Centrix: We use Centrix to verify your address and other relevant details.
Both Aplyid and Centrix are industry-leading providers. Your information is only used for verification purposes and is securely stored in your client file with MWIS Lawyers, in accordance with the AML/CFT Act. Once checks are completed, your data is not retained by Aplyid or Centrix.
What Information Will You Need to Provide?\
Depending on your situation, we may ask for:
- Proof of identity (e.g., passport, driver’s licence)
- Proof of address (e.g., utility bill, bank statement)
- Information about the source of funds or wealth
- For trusts, companies, or other entities: details about key parties (such as shareholders, trustees, settlors, and beneficiaries)
Special Notes
- Overseas clients or complex entities may require additional documentation and checks.
- For international payments, we capture all required details and report as necessary.
- If you do not provide the required information, we may be unable to act for you.
Our Commitment
- Most of our services are provided face-to-face, but we can also work with you via email or video conferencing if needed.
- Our AML Compliance Officer reviews our risk assessment annually to ensure we meet all legal obligations.
- We appreciate your cooperation and patience as we work together to comply with these important regulations.
Questions?
If you have any questions about the AML process or what you need to provide, please contact your MWIS Lawyers representative. We are here to help make the process as straightforward as possible.
