Phase 2 Lawyers and Conveyancers Guidance launched

Last week DIA published the AML/CFT Phase 2 Lawyers and Conveyancers Guideline to help the sector better understand AML/CFT and how it affects them. Phase 2 includes lawyers, accountants, conveyancers, real estate agents, high value dealers and the New Zealand Racing Board.
 
The Lawyers and Conveyancers Guideline is the first of the industry-specific guidance material to be published, with guidelines for accountants and Real Estate Agents to be published in 2018 ahead of the legislation going live for these two professions.
 
DIA has also updated a number of generic guidance documents. These updates focus on what constitutes “in the ordinary course of business” and the scope and formation of “designated business groups”.