NZ AML/CFT Compliance Officer case studies
NZ AML/CFT Compliance Officer · Put your knowledge to work in context.
The New Zealand AML/CFT Compliance Officer credential is a professional certification for people who carry, or are preparing to carry, the compliance officer function under New Zealand's anti-money-laundering and countering-financing-of-terrorism regime. It is aimed at compliance officers, MLRO-equivalents, risk and assurance staff, and advisers in banks, insurers, non-bank deposit takers, financial advisers, trust and company service providers, and other reporting entities supervised under the AML/CFT Act. The NZ AML/CFT Compliance Officer case studies are 5 cases and about 2,668 words.
1The Builder With a Cash Habit
You are the AML/CFT compliance officer at a small Auckland law firm. A conveyancing matter settles next week: a first-home purchase of 870,000.
579 words, about 3 min2The Trust With a Layered Ownership Chain
A registered financial service provider is onboarding a client entity: a limited liability company incorporated in a jurisdiction with weak beneficial ownership transparency. The company's share register shows it is 100% owned by a Cook Islands trust.
534 words, about 3 min3The Dormant Account That Woke Up
A non-bank deposit taker has a customer who has held a term deposit account for eight years. Activity was minimal: annual rollovers, occasional interest withdrawals.
519 words, about 3 min4The Remittance Desk and the Repeat Sender
A small Auckland money remittance business sends funds to the Pacific. Its compliance officer reviews a week of transactions and notices that one customer, a NZ-resident sole trader, has sent 34 transfers in five weeks, each between NZ 900 and NZ 1,950, to 12 different recipients in two countries.
518 words, about 3 min5The Politically Exposed Person Next Door
A wealth management firm is onboarding a customer who is a New Zealand resident and has lived here for 20 years. He is a retired former minister of finance of a small Pacific island nation, having left office 12 years ago.
518 words, about 3 min