DIA Money Remitter Registration Solutions | FSP Registration Application Support | AML/CFT Polices and Procedures | Post-registration Risk and Compliance Management

We offer a comprehensive set of solutions to help you obtain and maintain a New Zealand Money Remitter registration with the Department of Internal Affairs (DIA), tailored to:

• Your business goals and objectives
• Your client demographics
• Your countries of operation
• The size of your business
• The available human and technology resources
• Your risk appetite
• Your governance structure
• The products that you offer
• DIA regulated money remitters’ obligations covering risk and compliance management under financial laws and regulations, the applicable FSP registration, AML/CFT laws, privacy laws, consumer protection laws, and more

We have designed our regulatory licensing solutions to help you navigate the complexities of the New Zealand money remitter regulatory regime in a commercially oriented and goal-focused manner, providing effective support for all stages of the New Zealand money remitter registration process, including but not limited to the following aspects:

• DIA Money Remitter Registration Guidance: Advising on a wide range of aspects associated with DIA money remitter registration as it relates to your specific situation
• Pre-registration assessment: Covering compliance gap analysis as well as risk and compliance assessment
• Pre-registration support:
• Drafting the necessary policies and procedures to help you comply with the DIA money remitter registration conditions and financial markets' regulations
• Developing internal controls to help you meet your obligations under the New Zealand money remitter regulatory regime
• DIA Money Remitter Registration Application Support: Covering the entire registration process
• Post-registration Support: Covering
• Ongoing compliance advice
• Comprehensive second-line risk and compliance support, including leading the implementation of your risk management framework (RMF), compliance management framework (CMF), compliance monitoring program (CMP), compliance calendar and checklist, ongoing risk assessments, internal and external reporting, outsourced providers' management, and more
• AML/CFT advice
• AML/CFT compliance management
• Compliance assurance solutions, including compliance assurance program (CAP) development, implementation, and internal control testing

 

 

Service Coverage

This page is about New Zealand Money Remitter registration. In New Zealand, businesses that provide money remittance or funds transfer services must register on the Financial Service Providers Register (FSPR) and are supervised by the Department of Internal Affairs (DIA) under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act).

Registered money remitters are required to maintain a compliant AML/CFT programme, including:

• customer due diligence (CDD) and enhanced due diligence (EDD) for higher-risk customers,
• transaction monitoring and suspicious activity reporting (SARs),
• record-keeping obligations, and
• ongoing independent AML/CFT audits.

In addition to AML/CFT supervision, money remitters must also meet FSPR obligations, which include membership in an approved dispute resolution scheme (DRS) for dealing with consumer complaints.

We offer comprehensive support for a wide range of DIA money remitter registration applications tailored to meet the specific needs of the following businesses:

• Peer-to-Peer Payment Services
• Domestic Money Remitters
• Consumer Money Remitters
• Commercial Money Remitters
• Mobile Payment Providers
• Cryptocurrency Remittance Platforms
• E-Wallet Providers
• Prepaid Card Issuers
• Remittance Service Providers
• Foreign Exchange Dealers
• International Money Remitters
• Digital Money Remitters

You can find more information about our DIA money remitter registration solutions below:

 

New Zealand Money Remitter Registration Preparation

Pre-registration Compliance Assurance

Our DIA money remitter registration solutions cover the following focus areas:

• Compliance Goals Analysis: We review your business-specific goals and resources against the suitability criteria for a DIA money remitter registration
• Initial Consultation: We provide guidance on potential risk and compliance issues that may arise during the New Zealand money remitters' registration process
• Choosing the Right Jurisdiction: We assist in evaluating regulatory, risk, and compliance environments to determine the most suitable jurisdictions for your DIA money remitter registration, tailored to suit your:

• business objectives,
• operational capacity,
• client base,
• markets of operations,
• and other relevant factors

• Gap Analysis: We identify gaps between your existing operations and regulatory requirements and help you align them in a commercially oriented manner
• DIA Money Remitter Registration Application Plan: We help you establish a roadmap to effectively meet the DIA money remitter registration requirements

 

 

DIA Money Remitter Registration Guidance

Selecting the right compliance model is crucial not only for navigating the registration process but also for maintaining ongoing compliance and avoiding potential breaches. Our New Zealand money remitter registration solution covers:

• Compliance Model Selection: To help you best comply with the New Zealand money remitter regulatory regime and related risk and compliance obligations.
• Corporate Governance Model Selection: We offer practical guidance on establishing effective corporate governance practices that support your risk and compliance oversight.
• Operations Model Advisory: We advise you on optimising your operational and governance models to help you efficiently comply with the registration requirements for New Zealand money remitters and other applicable DIA regulated money remitters’ obligations, keeping in mind your specific circumstances, available resources and business goals.

 

DIA Money Remitter Registration And Entering The Regulated Environment

We help businesses transition from an unregulated environment to operating under the New Zealand money remitter regulatory regime, helping them meet their obligations as a DIA money remitter registration holder.

We also assist already regulated businesses in aligning their existing risk and compliance management structures with the New Zealand money remitter regulatory regime requirements.

Our focus areas for this service include:

• New businesses
• Existing money remmitance providers operating in unregulated markets
• Regulated New Zealand money remitters expanding into foreign jurisdictions
• Financial institutions and/or service providers with established risk and compliance frameworks seeking to offer regulated money transfer services as a new product.

 

Multi-Jurisdictional Compliance

With years of experience managing risk and compliance obligations for businesses operating under multiple financial licences across various jurisdictions, we help businesses remain compliant with the regulated money remitters’ obligations globally.

 

 

 DIA Money Remitter Registration Application

We assist with your licence application through ongoing engagement in the New Zealand money remitter registration process:

• Document Compilation and Review: We compile and review all required supporting documents to support your DIA money remitter registration application.
• Application Form Completion: We help you complete the forms so that all material information is accurate and complete.
• Pre-Submission Review: We can arrange a pre-submission review session with key stakeholders to ensure all parts of your application are understood and agreed upon. This session aligns application details with the actual situation, removing ambiguity.
• Regulatory Liaison: We manage the end-to-end submission process, maintaining clear and effective communication channels throughout the regulated New Zealand money remitters' registration process.
• Timeline Management: We closely monitor and adhere to all necessary deadlines, providing timely updates and adjustments to keep the application process on track.

 

Resolving DIA Money Remitter Registration Issues

Having competent compliance advisors is crucial when registration issues arise. Therefore, our DIA money remitter registration solutions include a range of services to address and resolve these issues effectively:

• Remediation Solutions for DIA Money Remitter Registration Applicants: We address and remediate risk and compliance issues identified by regulators, helping your operations align with the New Zealand money remitter regulatory regime requirements.
• Specific Licence Conditions Compliance: We can help you manage additional conditions imposed on your DIA money remitter registration, developing a tailored action plan to maintain compliance and facilitate the eventual removal of these conditions with minimal disruption to your business operations.
• Registration Issues Handling: We address common registration issues encountered during the New Zealand money remitter registration process, providing you with solutions to navigate and resolve these challenges efficiently.
• Further Information: You can visit our Compliance Remediation Solutions page for more information.

 

Related Services

We assist in obtaining DIA money remitter registration equivalents in the following jurisdictions:

• Australia: For more information on the Australian equivalent of a DIA money remitter registration, the AUSTRAC money remitter registration, you can visit our AUSTRAC Money Remitter Registration page.
• United Kingdom: For more information on the UK equivalent of a DIA money remitter registration, the FCA payment institution authorisation, you can visit our FCA Payment Institution Authorisation page.
• United States: For more information on the United States equivalent of a DIA money remitter registration, a state money transmitter license, you can visit our US Money Transmitter Licence page.
• Singapore: For more information on the Singaporean equivalent of a DIA money remitter registration, the SPI licence, you can visit our Singaporean SPI Licence page.
• Prominent Financial Centres and Offshore Tax Havens: We also offer licensing solutions for money remittance businesses in the prominent financial centres and offshore tax havens, including:

• Seychelles
• Cayman Islands
• British Virgin Islands (BVI)
• Belize
• Mauritius
• Gibraltar