Aspects of many New Zealand industry sectors are identified as being attractive to criminals wanting to launder the proceeds of crime and to finance terrorism.
Trust and Company Service Providers (TCSPs) can take different forms, but generally assist in the creation, operation and management of corporate and trust structures.
The services offered by TCSPs operate as a gateway to property and financial markets, financial institutions and other regulated professionals. These can be misused by criminals to disguise beneficial ownership, conceal the origins and purposes of financial transactions, facilitate tax evasion and, ultimately, launder the proceeds of crime, as well as, where complex structures are established, create distance between criminal entities and their illicit wealth.
The Money Laundering and Terrorist Financing (ML/TF) risks associated with the Trust and Company Service Providers industry include:
Trust and Company Service Providers captured by the AML/CFT obligations must ensure the organisation conducts a comprehensive ML/TF risk assessment to identify, assess, mitigate and manage ML/TF risk exposures. This is a critical first step in complying with AML/CFT laws.
Our expertise covers all AML/CFT disciplines and brings unique perspectives, approaches and solutions to the AML/CFT challenges faced by New Zealandn businesses
Our AML/CFT compliance knowledge includes working with many types of New Zealandn businesses and we understand what compliance means for your business
We have experience in delivering workable AML/CFT compliance to many industry sectors, each with their own unique challenges
Our knowledge and expertise has been hard earned and comes from working in the area of AML/CFT for many decades
We have experience providing tried and tested AML/CFT solutions, regardless of the size and complexity of your business
Our AML/CFT compliance solutions are flexible and can be tailored to your capacity, experience and budget
I really enjoyed the day and was very impressed by your product. I walked away with a better appreciation of the AML risk factors in our business and how they can be mitigated.
Workshop done – Program Manual V1 drafted! So pleased to work alongside Initialism to get our AML program underway – the workshop was well worthwhile. We learnt plenty around the purpose of the AML legislation and then completed our Risk Assessment and draft program manual. Initialism were very knowledgeable on AML and practical in their approach. The Initialism portal is user friendly and easy to tailor to our firm’s needs and will definitely future proof our program. Thank you.