AML (Anti-Money Laundering)

Bartercard LP is required to comply with the Anti-Money Laundering (AML) and Countering Financing of Terrorism Act 2009. The Act ensures that businesses take appropriate measures to guard against money laundering and terrorism financing and help maintain New Zealand’s international reputation as a safe place in which to do business.

Under this law, Bartercard LP has an obligation to verify various aspects of a member’s identity through conducting customer due diligence on the member, any beneficial owner and any person acting on behalf of that member.

From time to time, we are also required to reconfirm the information held about our current members to ensure it is accurate and up to date. This may include asking members for additional information if their trading activity or business changes over time or we receive requests for an increase in credit line. This helps to protect our ecosystem from financial crime, improve New Zealand’s financial reputation and meet our institutional requirements.

Bartercard LP is also a registered Financial Services Provider under the Financial Service Providers (Registration and Dispute Resolution) Act 2008.