Our team attended the annual AML Summit 2021 in Auckland last week which is designed to bring together AML professionals while educating them in all things AML.
What is AML?
Anti-money laundering (AML) refers to the legislation and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income.
Partners Finance & Lease (‘we’) is subject to the New Zealand Anti-Money Laundering/Countering Financing of Terrorism Act 2009 (“the Act”) which places responsibility on financial institutions in assisting the authorities with the prevention of money laundering and terrorist financing.
How does it apply to Partners Finance & Lease?
To comply with the Act, we are required to know who we are providing services to. This includes all clients (direct and referral) and may include other parties involved. Once we have identified the required parties, we will request identification documents that confirm who they are.
The two-day event provides AML Compliance Officers, managers, and individuals with practical support addressing common issues and guidance. Partners Finance & Lease’s AML officer, Natasha Dravitzki, and Operations Manager, Anna Svensson attended last week’s conference.
Natasha Dravitzki, AML officer said: “Staying ahead of AML changes and ensuring compliance is paramount to our responsibility as a lender. Every day we see and hear about the impacts of financial exploitation in New Zealand and around the world which is why proof of identity is fundamental to our industry. We are continually improving our AML processes in line with legislation and working with experts to make our process as transparent as possible for all involved.
“The AML Summit provides a fantastic opportunity for us to stay up to date, develop practical knowledge and connect with industry experts.”