Lawyers and real estate agents will be obliged to alert the authorities to dodgy transactions under the next phase of tough anti-money laundering rules coming in this year.
But lawyers say they will not be forced to breach client confidentiality, an important legal principle.
The Anti-Money Laundering and Countering Financing of Terrorism Act (AML-CFT) came into force initially with banks and financial institutions four years ago, amid an international effort to crack down on tax avoidance.
from
http://www.stuff.co.nz/business/money/100343529/Ethical-dilemma-for-lawyers-forced-by-new-rules-to-disclose-dodgy-dealings
No comments:
Post a Comment