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AML/CFT Compliance

Anti-Money Laundering and Countering Financing of Terrorism

  1. Our Commitment
    • DuePay Limited is committed to complying with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) and all related regulations in New Zealand.
  2. Customer Due Diligence (CDD)
    • We conduct customer due diligence on all users, including:
      • Identity verification using government-issued photo ID
      • Address verification
      • Enhanced due diligence for high-risk transactions
      • Ongoing monitoring of transactions and account activity.
    • We may use third party service provier(s) to verify your identity (KYC) and your Business (KYB).
  3. Transaction Monitoring
    • We perform transaction monitoring to detect and report suspicious activity. Unusual patterns, large transactions, and other risk indicators are flagged for review by our compliance team.
  4. Reporting Obligations
    • DuePay reports suspicious activity to the New Zealand Financial Intelligence Unit (FIU) as required by law. We also submit required regulatory filings as per law.
  5. Record Keeping
    • We maintain all CDD records, transaction records, and suspicious activity reports for a minimum of five years and maximum of 7 years from the last date of your relationship with DuePay, as required by the AML/CFT Act.
    • All records are safely purged at the end of the required period.
  6. Compliance Officer
    • Our designated AML/CFT Compliance Officer oversees all compliance activities. For compliance inquiries, email us at: contact@duepay.co.nz