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).
Guideline:
High Value Dealers Complying with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009
Executive summary
Money laundering (ML) is the method by which people disguise and conceal the proceeds of crime and protect
and enjoy their assets. Some people in New Zealand may also be financing terrorism using similar techniques to
money launderers to avoid detection by authorities and to protect the identity of those providing and receiving
the funds.
The HVD sector is vulnerable to ML and terrorism financing (TF). Criminals target HVDs to launder the proceeds
of their crimes to cover their tracks and avoid detection. Some criminals may buy expensive goods with cash,
then sell these goods and get ‘clean’ money for personal use or to fund more criminal activity. Others might, for
example, keep expensive goods for personal use, trade them with other criminals, or take them overseas and
sell them there to avoid raising ‘red flags’ in New Zealand.
The HVD sector is vulnerable to ML and terrorism financing (TF). Criminals target HVDs to launder the proceeds
of their crimes to cover their tracks and avoid detection. Some criminals may buy expensive goods with cash,
then sell these goods and get ‘clean’ money for personal use or to fund more criminal activity. Others might, for
example, keep expensive goods for personal use, trade them with other criminals, or take them overseas and
sell them there to avoid raising ‘red flags’ in New Zealand.
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