Identitii Limited, has launched automated Financial Crime reporting to New Zealand’s Financial Intelligence Unit (NZ FIU) via its anti-money laundering and counter terrorism financing (AML/CTF) reporting platform. The platform simplifies the submission of Prescribed Transaction Reports (PTR) to the NZ FIU, New Zealand’s Anti-Money Laundering and Financial Crime Compliance regulator.
Identitii’s AML/CTF reporting solution is a cloud platform that helps increase automation and improve visibility and oversight of high value cash and cross-border transactions in New Zealand. It helps NZ reporting entities improve visibility over financial crime compliance obligations and automates key manual processes to reduce operational burden internally. It can be used stand alone for NZ FIU reporting or in conjunction with Identitii’s existing solution for AUSTRAC reporting, for customers operating in both jurisdictions.
Commenting on the announcement, John Rayment, CEO of Identitii said:
“Regulators all over the world are cracking down on non-compliance with anti-money laundering and counter terrorism financing regulations in a bid to curb financial crime. Yet getting a single view of transaction data across the organisation has always been hard, in particular when compliance is managed by spreadsheet. We are pleased today to extend our offering to support over 5,000 New Zealand reporting entities so they can benefit from increased transparency and improved assurance, as well as more automation when it comes to AML/CTF reporting.”
New Zealand uses GoAML, a fully integrated software application developed by the UN as part of its strategic response to financial crime, as the basis of its financial crime reporting framework. With the launch of an offering to automate submission of PTRs to the NZ FIU, Identitii has positioned itself to expand into any jurisdiction that uses the GoAML framework, which numbers more than 65 globally.
Identitii’s NZ PTR offering is available immediately.
