Anti-Money Laundering checks are an essential part of ‘Know Your Customer’ (KYC) policies. Not only are these checks becoming increasingly important when preventing identity theft, money laundering and financial fraud, but for many industries they are a legal requirement.
The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) places obligations on New Zealand’s financial institutions and casinos to detect and deter money laundering and terrorism financing. This Act came into full effect on 30 June 2013
This means enhanced procedures and customer due diligence will need to be taken into account by businesses conducting AML and KYC checks. Failing to make the appropriate adjustments to your AML checks could expose your business to increasingly larger fines.
With our AML solutions we can help to assist your business meet AML compliance, making Customer Due Diligence easy.
PEP & Sanction List Checks
- PEPs and their Relatives and Close Associates
Detailed profiles of senior PEP's, their relatives, close associates and companies they are linked to, from every country in the world.
- Sanctions and Official Lists
We check over 1000 sanctions, regulatory and law enforcement and other official lists, including those issued by the UN and major government departments, worldwide.
- Persons and Entities of Special Interest
High profile people not on an official list but reported in publicly available sources as being accused or convicted of serious crimes including financial crime, organised crime, terror, trafficking, corruption, war crimes, tax crime and organised crime Japan.
Our Anti Money Laundering / Know Your Customer check will provide you the ability to:
- Screen individuals against PEP and Sanction data
- Verify a client’s identity who is not physically present
- Combat fraud and terrorism funding
- Exhibit good governance with a paperless audit trail
- Conduct business confidently and effectively
- Run single checks within as little as 30 seconds
In its simplist terms, a Politically Exposed Person is someone who, through their prominent or influence position, is more susceptible to being involved in corruption or bribery. Any close business associate or family member of such a person will also be deemed as being a risk, and therefore could also be added to a PEP list.
We check against many lists however below are some of the main global PEP lists we check names against.
- Heads & Deputies State/National Government
- National Government Ministers
- Members of the National Legislature
- Senior Civil Servants–National Government
- Senior Civil Servants–Regional Government
- Embassy & Consular Staff
- Senior Members of the Armed Forces
- Senior Members of the Police Services
- Senior Members of the Secret Services
- Senior Members of the Judiciary
- State Corporation Executives
- State Agency Officials
- Heads & Deputy Heads of Regional Government
- Regional Government Ministers
- Religious Leaders
- Political Party Officials
- International Organisation Officials
- City Mayors
- Political Pressure and Labour Group Officials
- Other National NGO Officials
- Local Public Officials
- International Sporting Organisation Officials