Prescribed Transactions Reporting

The Anti-Money Laundering and Countering Financing of Terrorism (Prescribed Transactions Reporting) Regulations 2016 are available from the New Zealand Legislation website.

A prescribed transaction means a transaction conducted through a reporting entity in respect of:

  • an international wire transfer of NZD1,000 and over (also known as International Funds Transfers or IFTs) where at least one of the financial institutions (i.e., ordering, intermediary or beneficiary institution) involved in the transaction is in New Zealand, and at least one is outside New Zealand.

    See AML/CFT Wire Transfers Fact Sheet for further information.
     
  • a domestic physical cash transaction of NZD10,000 and over (also known as Large Cash Transactions or LCTs) which are transactions in New Zealand involving the use of physical currency (i.e., coin and printed money designated as legal tender, and circulates as, and is customarily used and accepted as a medium of exchange in the country of issue).

Key Dates

  • As of 1 November 2017, reporting entities must submit PTRs to the FIU.

    Important note, in recognition of the need to ensure smooth implementation of automated reporting (submitting PTRs using the XML upload and B2B channels), a transitional compliance period for applies until 1 July 2018.
    Reporting entities submitting automated reports will be expected to provide PTRs as soon as they are able from 1 November 2017.  However, reporting entities will not be considered non-compliant prior to the end of the transitional compliance period (1 July 2018).
     
  • Businesses introduced as part of the AML/CFT Amendment Act 2017 are being phased in by sector over the coming years. Please refer to the Ministry of Justice website for commencement dates. 

Relevant Legislation and documents

The relevant Acts and Regulations available from the NZ Legislation website include:

The regulatory PTR guidance documents available from the FIU include:

Why have these regulations been introduced?

Prescribed Transactions Reports (PTRs) help to build an intelligence picture across the entire financial system. This becomes a national asset for New Zealand Inc., made up of information held by various AML/CFT sectors and reporting entities. In addition to Suspicious Transaction Reports (STRs), PTRs add further transparency to the financial system by making particular money laundering and terrorist financing typologies even more difficult to hide, as well as improving the detection, and thus disruption, of organised crime, fraud and tax evasion.

Have a question about Prescribed Transactions Reporting?

Do I need to submit PTRs?

For obligation queries, refer to your sector supervisor: DIA | FMA | RBNZ

 

 

 

How can I submit PTRs?

For details on the three options for submitting PTRs and how to assess which is most appropriate for your organisation, visit "How to Submit Prescribed Transactions Reports".

 

 

 

How should I prepare for submitting PTRs?

Refer to our “Five steps to prepare” page.

 

 

 

Can I submit test PTRs (in a test environment) before I submit live PTRs into goAML (production environment)?

 


For other frequently asked questions, refer to our PTR FAQ document (PDF 61KB).
(Updated 8 January 2018)

The questions and answers provided in this document have been collaboratively determined by the FIU, Ministry of Justice and the Sector Supervisors.

If you are still unable to find the answer to your question, please send us an email.

Resource library

PTR documents and resources are available from the Resource Library in goAML. The Resource Library is available for reporting entities who have registered with goAML.  To access, reporting entities will need to log into goAML and click on the question mark icon on the menu bar.