Reasons why we must ask you for the information
As part of the global war against criminals/terrorists the New Zealand Government has amended the Anti-Money Laundering and Countering Finance of Terrorism Act 2009 (AML/CFT). You will already be familiar with the operation of this Act which required banks and other financial institutions to increase the amount of identification that they required from all customers. The Act also introduced strict processes of reporting certain transactions or organisations with financial or other penalties for failure to carry out such obligations.
On 1 July 2018 all New Zealand Law Firms have now become incorporated into this process, the objective being to help New Zealand maintain its current international reputation as being a strong and safe place to conduct business and financial transactions.
In order to comply with our statutory obligations we will need to ask you for identification and information at the beginning or during the period that we act for you. All Solicitors must follow a similar process. An indication of the minimum identification documentation recognised can be seen by going to the New Zealand Department of Internal Affairs website at www.dia.govt.nz.
Identity verification codes of practice
For more information about why we are making this enquiry of you please also see the information also available on the same D.I.A. website under codes of practice and guidelines (Lawyers and conveyancers).
In certain transactions, all Law Firms are compelled to obtain what the Government calls “Enhanced Due Diligence” to be able to complete any transaction which comes within the scope of this part of the legislation.