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AML and CFT Compliance

Strengthening PNG's compliance with international Anti-Money Laundering and Combating the Financing of Terrorism standards

IPA is supporting PNG's efforts to strengthen AML/CFT compliance

PNG is strengthening its compliance with international anti-money laundering (AML) and combating the financing of terrorism (CFT) standards. As the administrator of most registered business entities, IPA is a key agency in this work. Its current programme covers three areas:

Beneficial ownership access
Companies are required to maintain beneficial ownership information, and IPA is empowered under the Act to request this information.
Companies Act amendments
Amendments to strengthen beneficial ownership reporting, now consulted on and will be introduced into law.
Legal Persons Assessment
IPA has completed its assessment of the money‑laundering risk posed by PNG‑incorporated entities. The report is now published, and its findings will guide the development of future PNG policies.

Following public consultation, IPA received over 20 written submissions to the proposed legislation. The comments were particularly well-thought out and IPA very much appreciates the effort commentators put into their responses and IPA made several changes to the proposed language in response to these comments. IPA has now published a final consultation report and the proposed Companies (Amendment) legislation. Both are in the key documents below.

Key documents

COMPANIES ACT AMENDMENTS

Consultation memorandum (PDF)
Proposed amendments to the Companies Act, put to stakeholders.
May 2025
Public consultation report (PDF)
Summary of feedback received and the changes IPA made in response.
Sep 2025
Proposed Companies (Amendment) Bill (PDF)
The proposed amendment legislation.
Sep 2025

RISK ASSESSMENTS AND EVALUATIONS

Legal Persons Risk Assessment (PDF)
PNG's assessment of the money-laundering risk posed by PNG incorporated entities.
July 2026
IPA anti-money laundering project overview (PDF)
Summary of the Legal Persons Assessment project.
May 2025
2024 Mutual Evaluation Report (PDF)
PNG's published mutual evaluation against international standards.
2024
NPO AML risk assessment (PDF)
Risk assessment for the non-profit organisation sector.
2023
National Risk Assessment (PDF)
PNG's assessment of money-laundering and terrorist-financing risk.
2017

GUIDANCE

Protecting your association (PDF)
Guidance for associations on money-laundering and terrorist-financing risks.
Nov 2025

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