Monthly Round-Up: February

Your monthly round-up of AML/CFT updates and news from around the world, with a focus on regulatory updates and bettering your reporting entity's compliance.

Real Estate Agency Warned for Anti-money Laundering Failures

The director of DIA’s anti-money laundering team said Property Brokers, the real estate agency, had failed to meet several of its obligations relating to the establishment, implementation and maintenance of its anti-money laundering programme.

Expiring Regulations Timeframe

The Ministry of Justice has advised that the timeframes for amending the expiring regulations has changed and the Ministry now aims to have new regulations in force by July 2021. Until new regulations come into force, reporting entities must comply with the requirements of the current regulations.

FATF's Plenary Outcomes


Delegates representing the 205 members of the Global Network and observer organisations, such as the IMF, the United Nations and the World Bank, worked through a full agenda to strengthen global safeguards to detect, prevent and disrupt the financial flows that fuel crime and terrorism.

Car Wash Owner Jailed for Money Laundering

A Perth car wash owner has been jailed for 20 months after being caught funnelling more than $5.6 million through bank accounts on behalf of a major money laundering syndicate.

Operation Tauwhiro Logo

Operation Tauwhiro

Police have announced a nationwide operation to disrupt and prevent firearms-related violence by criminal gangs and organised crime groups.

Couple Sentenced for Using Children as 'Puppets' for Tax Evasion

An Auckland couple who repeatedly used their children as "puppets" to avoid paying more than $400,000 in tax have been sentenced to prison and home detention.

"On at least three separate occasions they used one of their children as sole director and shareholder in a company. The sentencing judge noted the children were 'enlisted as mere puppets for the ongoing business'."

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