Government Compliance Introduction
AML
New Zealand has a law called the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (we will call it the AML/CFT law).
Lawyers are required to assess the risk of potential for money laundering and financing of terrorism and identify potentially suspicious activity. This is part of what the AML/CFT law calls client due diligence.
To complete client due diligence we must obtain and verify information and documentation from prospective and existing clients. Client due diligence requires us to undertake certain background checks before providing services to clients. In some cases we may need to ask you for further information such as the nature and purpose of the work you are asking us to undertake and the source of funds in a transaction.
Our identification requirements for Individuals is detailed below:
FATCA
FATCA is the United States' Foreign Account Tax Compliance Act. Its objective is to reduce tax evasion by US citizens, tax residents, and entities who are required to report their worldwide income to the US Internal Revenue Service, whether or not they live in the US.
As a Non- Financial Foreign Entity, Govett Quilliam is required to comply with the Foreign Account Tax Compliance Act and provide our Financial Institutions with information on clients who are US tax residents and receive interest income.
Our FATCA self- certification forms are below:
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