AML requirements

Understanding the AML Act

The AML Act, or the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, plays a crucial role in regulating financial activities in New Zealand. This law requires financial institutions and certain other entities to understand their customer relationships better. As a result, we need to confirm the identity and address of some customers. You can read the AML Act online here.
Anti-Money Laundering and Countering Financing of Terrorism Act 2009 

Why Your ID is Necessary

At Commonwealth Vault, we prioritize keeping all our clients safe. To comply with the AML Act, we must have proof of our customers’ identities on file. If we don’t have your AML-compliant ID, we may ask for it during our verification process. For more details, check out our Customer Identification Guide (Doc 71).

Repetitive ID Requests

We may need to ask for your ID more than once because for many reasons. To stay compliant with the AML Act, we might need to reconfirm some customers’ IDs more than once.  To ensure smooth account operations.

Avoiding Scams

Rest assured, your safety is our top priority. We never send SMS or email messages with links asking for account logins. For the safest option, bring the original documents to our office in person. If you still have concerns or need help, visit us in person or call us at +64 9 377 2777.