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DimensionGRC In the News

DimensionGRC In the News

Live NewstalkZB and lead article NZ Herald Business Section DimensionGRC interviewed in response to the scrutiny we are under by global #AMLCFT watchdog in a year where most companies are undergoing their first AML audit....

The Stages of Money Laundering

The Stages of Money Laundering

Money laundering is the concealment or disguise of the nature, source, location, disposition, movement, rights with respect to ownership of property, knowing that such property is derived from an offense or offences or from an act of participation in such an offence...

Compliance as A Managed Service

Compliance as A Managed Service

Overview: Reporting Entities across New Zealand are experiencing increased regulatory scrutiny, prompting organisations to rapidly evolve their Anti-Money Laundering (AML) programs. One approach that is proving popular is the managed service model, or compliance...

AML/CFT Compliance – A Year in Review for Lawyers

AML/CFT Compliance – A Year in Review for Lawyers

The inter-governmental Financial Action Task Force (FATF) has released a guidance document, ‘Risk-based Approach for Legal Professionals in June this year ahead of New Zealand mutual evaluation by FATF in 2020. The Report is well worth the read and discusses the need...

DIA – Fact Sheet for High Value Dealers and Auctioneers

DIA – Fact Sheet for High Value Dealers and Auctioneers

High Value Dealers Guideline This guide is designed to help high value dealers develop an understanding and meet their obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act). High Value Dealers Guideline (1.8MB)

Lawyers lagging in AML compliance

Lawyers lagging in AML compliance

Lawyers are dragging their heels on anti-money laundering (AML) compliance, risking penalties of up to $5 million, reputational damage and full-scale police investigations when the regulator begins its inspections towards the end of this year. Also in the regulator’s...

NZ Company Directors — this is your wake up call…

NZ Company Directors — this is your wake up call…

A “wake up” call has been made today to company directors in New Zealand, alerting them to the personal risks they face from obligations under the country’s anti-money laundering laws. An Auckland-based hi-tech startup that is offering companies a state-of-the-art...

Anti Money Laundering – to comply or not…it’s your choice!

Anti Money Laundering – to comply or not…it’s your choice!

here is a misguided assumption that the more money you throw at Anti Money Laundering risk the more effective you’ll manage it. This is far from the truth when looking to manage anti money laundering compliance. You have to spend money, but you have to spend it...

Back to Billable Basics – Improving Lawyers AML Programme

Back to Billable Basics – Improving Lawyers AML Programme

‍Introduction The Legal Sector has been captured under the new AML Regulations (Anti-Money Laundering and Countering Financing of Terrorism Act 2009) for just over 90 days and we have had time to measure the success and failures of AML Programmes. Organisations...

Know Your Customer – the foundation to your AML programme

Know Your Customer – the foundation to your AML programme

Know Your Customer (KYC) procedures are a critical function to assess and monitor customer risk and a legal requirement when complying with New Zealand’s AML/CFT Regulations. Do you know your customer? You need to if you are a Reporting Entity under New Zealand’s...

Money Laundering and the New Zealand Economy

Money Laundering and the New Zealand Economy

Keep our Money Clean There is a struggle going on behind the multiple facades of finance and commerce in New Zealand. It has to do with fighting crime, facing responsibilities and keeping the country honest. Specifically, the faceless villains are launderers of money...

Money Laundering, Hindsight & A Missing Factory

Money Laundering, Hindsight & A Missing Factory

Gone. Millions gone. A customer gone. The factory gone? ‍ Wait, what? The factory? ‍ This is a story of a true event caused by a failing in understanding risk, poor customer due diligence and cursory suspicious activity monitoring. I was too junior in my career to...

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