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FMA’s supervision of Anti-Money Laundering and Countering Financing of Terrorism
From 30 June 2013, FMA’s role as a supervisor will be to monitor compliance with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act), including assessment of the adequacy and effectiveness of reporting entities’ systems and controls, to detect and deter money laundering and terrorist financing, and to take action where these fall below the expected standard.
Click here to see our report released today, outlining FMA’s priorities for monitoring reporting entities under the AML/CFT Act.
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