The prevention of money laundering is a key focus of regulatory authorities in developed countries. Money
laundering regulations are designed to inhibit the movement of funds derived from criminal activity and to restrict
the availability of money to fund terrorist activities.
In accordance with our regulatory obligations, we have strict procedures in place to minimise the risk that our
service could be used for money laundering purposes including:
- Identification of all customers
- Monitoring and reporting suspicious transactions
- Maintaining records for at least five years
- Training staff to recognise suspicious transactions and to be aware of their reporting obligations
In order to further reduce the risk that our service could be used for money laundering purposes, we do not deal
in cash at all. We will not accept settlement of your transaction in cash, by cheque or by credit card or debit card.
All money is received and remitted by us electronically.
We will not accept you as a customer until we are satisfied that you are who you say you are. Furthermore, we
reserve the right at any stage to refuse to process your transaction if you fail to provide us with satisfactory
information or, if information you have provided to us subsequently appears to be misleading, incorrect or false.
We will not ask you to provide any information that is not necessary to satisfy our legal obligations. You should
therefore comply with any request for information promptly. Your failure to do so could, in some circumstances,
be regarded as suspicious. You should also assume that all information provided to us could be made available
to regulatory authorities in both New Zealand and the other country associated with your transfer of funds.
WARNING: Money laundering is a criminal offence. You should be aware that, by misusing our service, you
could expose yourself to criminal prosecution, as we are bound to automatically report such behaviour to the
authorities. Examples of misuse include, but are not limited to:
- Breaking a large transaction into smaller transactions to avoid reporting
- Providing false or misleading contact details
- Providing false identification documents
We do not want your business if the funds you are transferring are sourced from, or are related to, criminal
The service is provided by NZForex Limited trading as OFX (CN: 2514293). NZForex is part of the OFX global group of companies and is a wholly-owned subsidiary of OzForex Pty Ltd (ACN: 092 375 703), an Australian company.NZForex is registered as a financial service provider on the Financial Service Providers Register (established by the Financial Service Providers (Registration and Dispute Resolution) Act 2008). You can access the Financial Service Providers register at www.fspr.govt.nz. NZForex Limited is not currently regulated by the Financial Markets Authority as a Derivatives Issuer in New Zealand.