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Definition

Stands for Anti-Money Laundering. Refers to laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income. In NZ, businesses like banks, real estate agents, lawyers, and accountants must follow AML requirements - verifying client identity, reporting suspicious transactions, etc., under the Anti-Money Laundering and Countering Financing of Terrorism Act.

AML

Confused by another property jargon?

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