Introducing an end-to-end and inexpensive package that ensures SMBs meet their reporting entity obligations. This package has been developed specifically for smaller reporting entities now covered by the AML legislation such as real estate agents, lawyers, conveyancers, accountants, car dealers, trust and company service providers and other entities dealing with large transactions.

 

By offering this package, AB AML takes on the hassle of AML compliance obligations on behalf of reporting entities. This is a unique product in New Zealand.

 

The SMB package includes everything a reporting entity requires to comply with existing legislation and includes:

 

• Initial AML/CFT programme review.

• Mandatory independent audit of AML/CFT programme once every two years.

• Annual training sessions for compliance officers and support staff.

• CDD, sanction list, PEP, ID checking

• Ongoing professional support and consultation.

• Business hours phone support.

• Regular updates regarding guidelines and AML/CFT news.

• Assistance with submitting annual report.

• Assistance with transaction monitoring and suspicious activity reporting.

• Tailored and customized risk assessment and program containing policies and procedures relevant to legislative obligations (if not already completed).

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This all-inclusive package is not a replacement for a compliance officer but it does allow you to outsource most of your reporting entity obligations.