Yes they are. The AML/CFT Act applies to all financial institutions, however they may have different methods of addressing these obligations. As a bank with a parent in Europe we also have to adhere to regulations in other jurisdictions. While Rabobank are providing clients with a digital online solution so that you can update your information, other banks may request this information when you visit a branch.
If this is the property in which you reside or if it is used for family holiday or agricultural purposes, then you do not need to consider it as Commercial Property.
If you have lived in a country for three months or more, within the last three years, you will need to consider it as a country that you have lived in.
Any country that you have either personal or business dealings with which involve sending payments to or receiving payments from that country.
When logged in and presented with the pop up screen requesting this additional information from you it is not compulsory to complete this immediately - you can skip it until a more convenient time. However, providing us the requested information is required. We will need to follow up with you by phone or email if this isn’t completed.
If you decide not to provide the information, Rabobank may not be able to continue to provide you the services relating to your account.
To find our more information related to this click here and view section 16 of our Terms and Conditions.
Rabobank New Zealand Limited is a subsidiary of Rabobank Nederland and is subject to supervision by the Dutch Central Bank in addition to local, New Zealand supervision. The Dutch Central Bank has issued a mandatory Policy rule on integrity in investment property operations. This Policy Rule requires us to ascertain what, if any, commercial property holdings you may have and assess the integrity policy of your entity in relation to your activities in investment property.
Your details and circumstances can change over time. To continue to protect you from fraud and other financial crime, and so that we can continue to comply with the AML/CFT Act, we need to ensure that the details we have about you are accurate and up-to-date on an ongoing basis.
The Anti-Money Laundering and Counter Financing of Terrorism Act 2009 AML/CFT (2009) requires Rabobank to regularly review our customer’s information to ensure that we hold up-to-date and accurate information.
To find our more information related to this click here and view section 2 of our Terms and Conditions.
