Submissions Analysis of the Exposure Draft Amendment Bill for Phase 2 of the AML/CFT Reforms
In December 2016 and January 2017, the Ministry of Justice sought feedback on an exposure draft of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Amendment Bill.
The information paper asked several questions. The 3 key inputs were:
- Is the exposure draft of the AML/CFT Amendment Bill clear and does it accurately reflect the initial proposals outlined in this paper?
- Can businesses use provisions in the Bill to reduce compliance costs associated with Phase 2?
- What else can be done to help businesses reduce compliance costs associated with implementation of Phase 2?