links.
Essential AML/CFT Resources for Compliance in New Zealand
Regulatory & Legislative Resources
-
Anti-Money Laundering and Countering Financing of Terrorism Act 2009 – This is the primary legislation outlining the AML/CFT obligations in New Zealand. It covers customer due diligence (CDD), transaction monitoring, suspicious activity reporting (SARs), and compliance programme requirements​.
-
Real Estate Agents Act 2008 – If you are a real estate agent in New Zealand, this Act defines your professional responsibilities, including how you must comply with anti-money laundering regulations​.
AML/CFT Compliance Guidelines
-
AML/CFT Risk Assessment Guideline – A step-by-step guide to identifying and managing money laundering (ML) and terrorism financing (TF) risks within your business. Understanding these risks is a legal requirement under the AML/CFT Act​.
-
AML/CFT Programme Guideline (2024) – Learn how to build an effective AML compliance programme that includes policies, procedures, and internal controls to meet regulatory expectations​.
-
Enhanced Customer Due Diligence (CDD) Guideline (2024) – A detailed explanation of when enhanced due diligence (EDD) is required, particularly for high-risk customers, politically exposed persons (PEPs), and complex transactions​.
-
Amended Identity Verification Code of Practice 2013 (IVCOP) – This code outlines best practices for verifying customer identities, ensuring your business meets know your customer (KYC) requirements​.
-
Electronic Identity Verification Explanatory Note (2021) – Learn how to use electronic identity verification (EIV) to improve compliance while streamlining your customer onboarding process​.
Sector-Specific AML/CFT Compliance Guides
-
AML Compliance for Real Estate Agents (2018) – A must-read for real estate professionals covering AML risk assessment, customer due diligence, transaction monitoring, and reporting obligations​.
-
AML Compliance for Accountants (2018) – Explains how accountants, tax agents, and bookkeepers must comply with anti-money laundering laws, including how to spot suspicious transactions and mitigate financial crime risks​.
AML/CFT Risk Assessments & Reports
-
Financial Institutions Sector Risk Assessment (2019) – Evaluates AML risks for banks, remittance providers, foreign exchange dealers, and other financial service providers​.
-
DNFBPs & Casinos Sector Risk Assessment (2019) – Assesses the money laundering risks faced by lawyers, accountants, real estate agents, high-value dealers, and casinos​.
-
Financial Markets Authority (FMA) AML Risk Assessment (2021) – Covers AML compliance risks for investment firms, peer-to-peer lending platforms, and crowdfunding services​.
-
National Money Laundering & Terrorism Financing Risk Assessment (2019) – A detailed report on New Zealand’s overall financial crime risks, compiled by the NZ Police Financial Intelligence Unit (FIU)​.
Government Agencies & Reporting Portals
-
Department of Internal Affairs (DIA) – The AML regulator for real estate agents, accountants, lawyers, and casinos. DIA provides sector-specific AML compliance guidance.
-
Financial Markets Authority (FMA) – Supervises AML compliance for investment firms, securities issuers, and financial advisers.
-
Reserve Bank of New Zealand (RBNZ) – Oversees AML obligations for banks, insurance companies, and non-bank deposit takers.
-
NZ Police Financial Intelligence Unit (FIU) – The FIU collects and analyses Suspicious Activity Reports (SARs) and Prescribed Transaction Reports (PTRs) to detect financial crime.