Key findings from the 2014 Survey of AML/CFT reporting entities: awareness across sector

Key findings from the 2014 Survey of AML/CFT repor…
01 Apr 2015

This report summarises the results of the Department of Internal Affairs’ (the Department) 2014 survey of its reporting entities under the Anti-Money Laundering & Countering the Financing of Terrorism Act 2009 (AML/CFT Act) and explains the methodology behind the survey.

The Act took effect in July 2013 and it was important to gauge the level of awareness across the sector over various responsibilities concerning risk assessments, AML/CFT programmes, annual reporting, and suspicious transactions. The survey looked at the shift in awareness of the Act’s requirements from the reporting period of two years prior to the Act taking effect, to 1 July 2013 and at the time of the survey in April 2014. This enabled us to see how awareness evolved from the initial educational phase up until the time of the survey.

The survey also provided an opportunity to look at our communications to the sector to ensure that we are providing helpful and understandable information services to reporting entities as they learn their requirements.

Page last modified: 15 Mar 2018