This article addresses common questions about Annual Reports for New Zealand reporting entities.
TABLE OF CONTENTS
- What is the purpose of the Annual Report?
- Who needs to submit an annual report?
- What timeframe does the reporting period cover?
- When do I need to submit the annual report?
- How does First AML help reporting entities with their annual report obligations?
- Why have I not received a CSV file for PEP matches?
- I can’t find/lost my annual report email?
- I am FMA supervised, why don’t I have a CSV?
- How do I submit the annual report?
- I have some questions around the data provided?
- Who can I contact for help/further clarification?
What is the purpose of the Annual Report?
All FMA, DIA and RBNZ supervised reporting entities are required to submit annual reports detailing their AML/CFT programme and risk assessment. Reporting entities are encouraged to use the annual report as a way to review and update the status of their risk assessment and AML/CFT programme.
The annual report enables supervisors to understand how each reporting entity is meeting their AML/CFT obligations, how they are assessing and mitigating the risks of money laundering and terrorist financing to their business and how they are managing their financial activities.
Who needs to submit an annual report?
Reporting entities must submit an annual AML/CFT report to their relevant supervisor.
- The FMA supervises designated business groups (DBGs) and reporting entities listed in Section 130 of the AML/CFT Act.
- The RBNZ supervises banks, life insurers, and non-bank deposit takers.
- The DIA covers casinos, non-deposit-taking lenders, money changers and reporting entities not covered by the other supervisors e.g. real estate, accounting, legal, trust and company providers.
Certain reporting entities with a full or partial exemption from the AML/CFT Act may be exempt from submitting an annual report.
What timeframe does the reporting period cover?
The reporting period is from the 1st of July 2022 to the 30th of June 2023
When do I need to submit the annual report?
The annual AML/CFT report for the 2022/2023 period must be submitted any time between 1 July and 31 August 2023 via the AML Online portal.
How does First AML help reporting entities with their annual report obligations?
- For DIA supervised reporting entities, customers are able to download information directly from the platform for the questions in Part 3, Section 8.1-8.2 in the annual AML/CFT report user guide*
- For FMA/RBNZ supervised reporting entities, we are able to provide information for the questions in Part 3, Section 7.1-7.5 in the annual AML/CFT report user guide**
- Please note we are unable to help submit the report for you or provide any further information beyond the questions in Section 8 (DIA) or Section 7 (FMA) of the annual report.
*Further information: Filtering and sorting
**Please note we are providing FMA data on request this year, please email your customer success manager or submit a ticket in the Help Centre for support. A member of our team will be in touch with next steps.
How do I submit the annual report?
- If you are DIA supervised, you can complete your annual AML/CFT report online using AML Online. AML Online is a secure platform for businesses to engage with the regulator online.
- If you are FMA supervised, you can complete your AML/CFT annual report here.
I have some questions around the data provided?
Please email your customer success manager or submit a ticket in the Help Centre for support. A member of our team will be in touch to help with your query.