Anti-Money Laundering and Counter Financing of Terrorism Act 2009

How this act affects you from the 30 June 2013

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 ("the Act") comes into effect on 30 June 2013. All banks and most financial institutions across New Zealand need to make sure that they comply with the Act by then. 

At Chasmont Finance we’re taking this new Act seriously and we are committed to preventing our services and systems from being misused for any criminal activities. 

Here's some information about the Act and how it could affect you: 

The Act means we need to collect extra information from you and potentially anyone who is acting on yourbehalf.  For example, You may need to provide us with identity documents such as your passport, birth certificate or driver’s licence, as well as document confirming your address.

 Examples where this information will be required include:

  •  Opening a new loan with us.
  • Changing our personal details – e.g. they change your name/address.
  • Additional lending / re-financing of your current loan.

Acceptable Identification:

Primary Identification

You must provide one form of primary photographic (photo) identification document (ID) this can be: 

  • NZ passport - Can be current or expired within the last   2 years, but cannot be cancelled, defaced or mutilated.
  • Overseas passport - must be current  
  • NZ Drivers Licence - must be current so it can be used with electronic verification
  • NZ Firearms Licence - must be current 

Alternative Identification (if you have no Primary Identification):

You must provide one form of primary non-photo ID AND one form of supporting photo ID. These can be: 

 Primary non-photo ID

  • NZ Full Birth Certificate
  • Certificate of NZ Citizenship
  • Foreign Citizenship certificate
  • Foreign Birth Certificate

 AND   Supporting photo ID

  • International Driving permit
  • HANZ  18+ Card
  • NZ Educational Institute issued ID Card (e.g.   University Student Id or similar)
  • NZ Drivers Licence - without electronic verification 

Proof of address

  • Any posted bill including utility bill, bank statement, sky bill, insurance notifications.
  •  Signed rental agreement or rates information.

Situations where additional proof / information may be required to be collected

  • When we are unable to clearly identify the use of the funds.
  • Where you are identified as or connected with a politically exposed person.
  • Where we feel there may be undue risk to us or you.
 Additional Proof or Information that we may request 
  • Proof of income or your source of wealth.
  • Any other information that may be required to be gathered by law (case by case basis).
 
PLEASE NOTE:  It is not our intention to complicate or slow the process of lending but we must comply with the law.  If you can not provide us with the required information then it may delay our decision making or we may need to report our dealings as a suspicion transaction as required by the act.