New guidance on understanding Terrorism Financing risks
New guidance on understanding Terrorism Financing risks
16 AUG 2024
AML/CFT reporting entities must identify and assess the terrorism financing (TF) risks they may reasonably face and put in place a compliance programme to mitigate those risks.
DIA has recently published a super helpful guide called ‘Terrorism Financing Risk Summary’. All reporting entities should read this key guide as part of reviewing and updating their risk assessment and AML/CFT programme. It will help reporting entities better understand:
• What is financing of terrorism and how does it compare to money laundering
• How do terrorists gain funds
• What are the risks of terrorism financing in New Zealand
• What are your key AML/CFT requirements
• Terrorism financing red flags.