New Zealand
Overview
New Zealand’s framework is anchored in the AML/CFT Act 2009 and associated regulations, expanded by Phase 2 and materially reformed in 2025–26. The 2026 Amendment Acts strengthen the risk-based approach and consolidate supervision. The AML/CFT National Strategy 2026–2030 took effect on 1 July 2026 and sets the cross-agency implementation programme for the reformed system. Part 2 of the Statutes Amendment Act 2025 updated identity-verification and activity/transaction reporting clauses of the AML/CFT Act with effect from 27 November 2025, preceding the larger 2026 reforms.
CDD under the Act requires identification and verification of beneficial owners. DIA’s July 2026 guidance suite contains updated beneficial-ownership and entity-specific CDD guidance.
Reporting entities file suspicious activity and prescribed transaction reports, maintain risk assessments/programmes and comply with CDD, monitoring and audit requirements under the Act.
Compliance Calendar5
Requirement
AML/CFT supervisory levy
Authority / Report toAML/CFT supervisor (Department of Internal Affairs under the current single-supervisor model)
Deadline / triggerPay by the due date or dates specified in the supervisor invoice. The invoice due date must be no earlier than 30 days after the invoice issue date, subject to the challenge/judicial-review timing rules in regulation 6(4).
Requirement
- Subject scope
- Reporting entities that fall within a leviable class in Schedule 2 of the AML/CFT (Levy) Regulations 2026. Regulation 6 excludes reporting entities exempted from sections 10 to 71 of the Act under sections 156E or 157.
- Trigger
- For each financial year in which the reporting entity falls within a leviable class, beginning with the financial year commencing 1 July 2027. The AML/CFT supervisor calculates or estimates the levy and issues an invoice.
- Filing channel
- Payment method and due date are specified in the AML/CFT supervisor invoice.
Impact
- Consequences of non-compliance
- An unpaid levy is recoverable as a debt due to the Crown under regulation 13.
- Enforcement authority
- AML/CFT supervisor / Crown debt recovery
- Operational impact
- Reporting entities should identify whether they fall within a Schedule 2 class, budget for the annual levy from the 2027/2028 financial year, and route supervisor invoices for timely review and payment.
Requirement
Annual AML/CFT Report
Authority / Report toDepartment of Internal Affairs (DIA)
Deadline / triggerFor the 2025/2026 period: submit between 1 July and 31 August 2026.
Requirement
- Subject scope
- Reporting entities required to submit the statutory annual AML/CFT report; form content differs by entity category.
- Trigger
- Annual reporting season for the preceding AML/CFT reporting period.
- Filing channel
- AML Online.
Impact
- Consequences of non-compliance
- Failure to submit an annual report is a compliance breach and may result in DIA supervisory/enforcement action under the AML/CFT Act.
- Enforcement authority
- Department of Internal Affairs
- Operational impact
- Calendar owners can treat 31 August 2026 as the current external deadline while preserving entity-specific preparation and approval milestones internally.
Requirement
Independent AML/CFT audit
Authority / Report toDepartment of Internal Affairs (supervisory oversight)
Deadline / triggerEvery 3 years by default, unless DIA notifies the entity that a 4-year timeframe applies; DIA may also require an audit at another time.
Requirement
- Subject scope
- Reporting entities subject to the independent audit requirement.
- Trigger
- Expiry of the applicable audit cycle, or earlier request by DIA.
- Filing channel
- Independent audit retained/provided as required; no universal portal filing is asserted.
Impact
- Consequences of non-compliance
- Failure to maintain the required audit can lead to DIA supervisory/enforcement action.
- Enforcement authority
- Department of Internal Affairs
- Operational impact
- Track the entity-specific last-audit date and any DIA notice rather than assuming one nationwide calendar date.
Requirement
Prescribed Transaction Reports (LCT / IFT)
Authority / Report toNew Zealand Police Financial Intelligence Unit (FIU)
Deadline / triggerReportable when the prescribed transaction occurs. The current public FIU page confirms thresholds and submission methods but mapped sources do not assert an exact universal filing-day clock without verifying the current regulation provision.
Requirement
- Subject scope
- Reporting entities conducting prescribed large cash transactions or international funds transfers.
- Trigger
- Large Cash Transaction: physical currency NZ$10,000 or more. International Funds Transfer: NZ$1,000 or more where the statutory cross-border conditions are met.
- Filing channel
- goAML Web form, XML upload or approved B2B automated submission.
Impact
- Consequences of non-compliance
- Failure to report a prescribed transaction may result in AML/CFT enforcement. Exact sanction depends on the statutory breach.
- Enforcement authority
- New Zealand Police FIU / DIA as supervisor
- Operational impact
- Transaction systems should detect both NZ$10,000 physical-cash events and NZ$1,000 qualifying international transfers and route them to goAML processes.
Requirement
Suspicious Activity Report (SAR)
Authority / Report toNew Zealand Police Financial Intelligence Unit (FIU)
Deadline / triggerNo later than 3 working days after reasonable grounds for suspicion are formed.
Requirement
- Subject scope
- Reporting entities under the AML/CFT Act when reasonable grounds for suspicion are formed.
- Trigger
- Reasonable grounds for suspicion are formed in relation to suspicious activity or transaction circumstances.
- Filing channel
- goAML Web.
Impact
- Consequences of non-compliance
- Failure to meet statutory reporting obligations can result in AML/CFT Act enforcement; penalty depends on the particular breach and proceedings.
- Enforcement authority
- New Zealand Police FIU / DIA as supervisor
- Operational impact
- Internal escalation should be shorter than the statutory outer limit so that review, approval and goAML filing are completed within three working days.
Authorities & FIU6
FATF Assessment
Measures how fully the jurisdiction has implemented FATF’s technical requirements. It does not measure practical effectiveness.
Measures whether the AML/CFT system achieves its intended results in practice. Follow-up reports do not normally replace these ratings.
Explore 40 FATF RecommendationsSee every Technical Compliance rating and what it means.+
Explore 11 Immediate OutcomesSee how FATF rates whether the AML/CFT system works in practice.+
Regulatory Timeline45
New Zealand made regulations establishing the AML/CFT levy framework for reporting entities in prescribed leviable classes. The regulations come into force on 8 October 2026, with prescribed levies applying from the financial year commencing 1 July 2027.
On 9 September 2026 New Zealand’s Department of Internal Affairs published the Accounting Sector Risk Assessment 2026. It evaluates money laundering, terrorist financing and proliferation financing exposure in accounting practices, informed by the 2024 national risk assessment, supervisory observations and intelligence. The publication updates guidance on sector-level risks but does not in itself create a new AML statute.
New Zealand’s AML/CFT National Strategy 2026–2030 came into effect on 1 July 2026, setting the Government’s plan and cross-agency work programme for the AML/CFT system.
From 1 July 2026, the Department of Internal Affairs supervises all reporting entities under New Zealand’s AML/CFT Act.
The new Identity Verification Code of Practice 2026 commenced on 1 July 2026.
The Act removes duplication and clarifies proportionate CDD and record-provision requirements within the existing AML/CFT framework.
The reform creates DIA’s single-supervisor mandate and additional secondary-legislation powers, with key supervisory changes effective 1 July 2026.
The Statutes Amendment Act 2025 (2025 No 74), assented to on 26 November 2025 and effective on 27 November 2025, amends sections 5, 16, 24, 40 and 48A of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. The amendments address interpretation, verification of identity for standard and enhanced CDD, suspicious activity reports, and prescribed transaction reports.
FATF revised Recommendation 16 to standardise payment information and strengthen fraud/error controls in cross-border payments.
Current relationship. Direct FATF membership and any listed regional assessment network participation are current profile relationships only. The GLOBAL milestone does not prove membership or domestic implementation on the event date; those remain LOCAL/STATUS evidence.
FATF Global Network ↗From 1 June 2025 reporting entities must keep a customer risk rating, review it during ongoing CDD/account monitoring and update it where appropriate; DIA guidance is used as official implementation evidence for the effective requirement.
FATF amended Recommendation 1 and related interpretive material to strengthen proportionality and simplified measures under the risk-based approach.
Current relationship. Direct FATF membership and any listed regional assessment network participation are current profile relationships only. The GLOBAL milestone does not prove membership or domestic implementation on the event date; those remain LOCAL/STATUS evidence.
FATF Global Network ↗FATF revised Recommendations 4, 30, 31 and 38 and related interpretive material to make asset recovery a stronger operational priority, expand tools to trace and confiscate criminal property and improve domestic and international cooperation.
Current relationship. Direct FATF membership and any listed regional assessment network participation are current profile relationships only. The GLOBAL milestone does not prove membership or domestic implementation on the event date; those remain LOCAL/STATUS evidence.
FATF Global Network ↗At its February 2023 Plenary FATF revised Recommendation 25 and its Interpretive Note to strengthen transparency and beneficial-ownership requirements for trusts and similar legal arrangements, complementing the 2022 strengthening of Recommendation 24 for legal persons.
Current relationship. Direct FATF membership and any listed regional assessment network participation are current profile relationships only. The GLOBAL milestone does not prove membership or domestic implementation on the event date; those remain LOCAL/STATUS evidence.
FATF Global Network ↗FATF strengthened Recommendation 24 on beneficial ownership transparency for legal persons.
Current relationship. Direct FATF membership and any listed regional assessment network participation are current profile relationships only. The GLOBAL milestone does not prove membership or domestic implementation on the event date; those remain LOCAL/STATUS evidence.
FATF Global Network ↗FATF amended Recommendations 1 and 2 and their Interpretive Notes so countries and covered private-sector entities must identify, assess and mitigate risks of breaches, non-implementation or evasion of proliferation-related targeted financial sanctions.
Current relationship. Direct FATF membership and any listed regional assessment network participation are current profile relationships only. The GLOBAL milestone does not prove membership or domestic implementation on the event date; those remain LOCAL/STATUS evidence.
FATF Global Network ↗The Basel Committee revised its ML/TF risk-management guidelines to add principles for information exchange and cooperation between prudential and AML/CFT supervisors in authorisation, ongoing supervision and enforcement.
A Basel supervisory publication does not become domestic law merely because it is GLOBAL. National adoption, supervisory use or incorporation must be evidenced by a LOCAL milestone or source.
Basel Committee on Banking Supervision ↗FATF adopted detailed implementation requirements for virtual assets and VASPs in June 2019, including the application of wire-transfer information requirements commonly described as the Travel Rule. This operationalised the virtual-asset perimeter introduced through the 2018 Recommendation 15 revision.
Current relationship. Direct FATF membership and any listed regional assessment network participation are current profile relationships only. The GLOBAL milestone does not prove membership or domestic implementation on the event date; those remain LOCAL/STATUS evidence.
FATF Global Network ↗In October 2018 FATF revised Recommendation 15 and added the definitions of virtual asset and virtual asset service provider, formally bringing virtual-asset activity into the global AML/CFT standards architecture. Detailed implementation requirements followed in 2019.
Current relationship. Direct FATF membership and any listed regional assessment network participation are current profile relationships only. The GLOBAL milestone does not prove membership or domestic implementation on the event date; those remain LOCAL/STATUS evidence.
FATF Global Network ↗New Zealand Phase 2 extended AML/CFT obligations beyond the original financial-sector perimeter to professions and businesses including lawyers, accountants, real estate and high-value dealers.
New Zealand expanded the AML/CFT regime to lawyers, accountants, real estate agents, additional trust and company service providers and certain high-value dealers.
The Basel Committee issued Sound management of risks related to money laundering and financing of terrorism, superseding its 2001 CDD and 2004 consolidated KYC papers and integrating ML/TF risk management with prudential supervisory expectations.
A Basel supervisory publication does not become domestic law merely because it is GLOBAL. National adoption, supervisory use or incorporation must be evidenced by a LOCAL milestone or source.
Basel Committee on Banking Supervision ↗FATF adopted a consolidated revised set of 40 Recommendations integrating AML, CFT and proliferation-financing safeguards.
Current relationship. Direct FATF membership and any listed regional assessment network participation are current profile relationships only. The GLOBAL milestone does not prove membership or domestic implementation on the event date; those remain LOCAL/STATUS evidence.
FATF Global Network ↗New Zealand enacted its principal AML/CFT statute.
Resolution 1737 imposed binding measures concerning Iran’s proliferation-sensitive nuclear activities, including an asset freeze on designated individuals and entities. Together with the DPRK regime, it forms a foundational UN counter-proliferation targeted-financial-sanctions architecture.
UN Members agree to accept and carry out Security Council decisions. This current Charter relationship is not proof of the jurisdiction’s domestic implementation, nor a claim about its membership status on the historical event date.
UN Charter · Article 25 ↗Following the DPRK nuclear test, Resolution 1718 imposed binding sanctions including an asset freeze on designated persons and entities connected to the nuclear programme. It became a central UN targeted-financial-sanctions pillar for counter-proliferation financing.
UN Members agree to accept and carry out Security Council decisions. This current Charter relationship is not proof of the jurisdiction’s domestic implementation, nor a claim about its membership status on the historical event date.
UN Charter · Article 25 ↗FATF added a ninth Special Recommendation addressing cash couriers and cross-border movement of currency.
Current relationship. Direct FATF membership and any listed regional assessment network participation are current profile relationships only. The GLOBAL milestone does not prove membership or domestic implementation on the event date; those remain LOCAL/STATUS evidence.
FATF Global Network ↗Resolution 1540 requires all States to adopt and enforce laws and domestic controls to prevent non-State actors from acquiring or using weapons of mass destruction and related materials. It forms a binding global legal pillar of the proliferation-financing control environment later reflected in FATF CPF standards.
UN Members agree to accept and carry out Security Council decisions. This current Charter relationship is not proof of the jurisdiction’s domestic implementation, nor a claim about its membership status on the historical event date.
UN Charter · Article 25 ↗The UN General Assembly adopted the United Nations Convention against Corruption on 31 October 2003. UNCAC addresses prevention of money laundering, laundering of corruption proceeds, confiscation and a dedicated asset-recovery framework; the Convention entered into force globally on 14 December 2005.
Current UN depositary relationship to 2003 UN Convention against Corruption. This is not a claim that the jurisdiction was already a Party on the GLOBAL event date; the national accession/ratification date is a separate LOCAL/STATUS fact.
UN Treaty Collection ↗FATF comprehensively revised its AML/CFT Recommendations, strengthening preventive measures and extending coverage.
Current relationship. Direct FATF membership and any listed regional assessment network participation are current profile relationships only. The GLOBAL milestone does not prove membership or domestic implementation on the event date; those remain LOCAL/STATUS evidence.
FATF Global Network ↗The Basel Committee issued Customer due diligence for banks, setting minimum supervisory expectations for customer acceptance, identification, ongoing monitoring and risk management. It became an influential global banking KYC/CDD benchmark and was later reflected in FATF standards.
A Basel supervisory publication does not become domestic law merely because it is GLOBAL. National adoption, supervisory use or incorporation must be evidenced by a LOCAL milestone or source.
Basel Committee on Banking Supervision ↗FATF expanded its standards to terrorist financing through eight Special Recommendations.
Current relationship. Direct FATF membership and any listed regional assessment network participation are current profile relationships only. The GLOBAL milestone does not prove membership or domestic implementation on the event date; those remain LOCAL/STATUS evidence.
FATF Global Network ↗Resolution 1373 requires all States to prevent and suppress terrorist financing, criminalise the provision or collection of funds for terrorist acts, freeze terrorist assets without delay and prohibit making funds or financial services available to terrorists and related entities.
UN Members agree to accept and carry out Security Council decisions. This current Charter relationship is not proof of the jurisdiction’s domestic implementation, nor a claim about its membership status on the historical event date.
UN Charter · Article 25 ↗The Palermo Convention was adopted on 15 November 2000 and broadened the international money-laundering framework beyond drug proceeds through criminalisation and preventive measures tied to transnational organised crime. It entered into force globally on 29 September 2003.
Current UN depositary relationship to 2000 Palermo Convention. This is not a claim that the jurisdiction was already a Party on the GLOBAL event date; the national accession/ratification date is a separate LOCAL/STATUS fact.
UN Treaty Collection ↗The UN General Assembly adopted the International Convention for the Suppression of the Financing of Terrorism on 9 December 1999, creating the treaty framework for criminalising terrorist financing and international cooperation. It entered into force globally on 10 April 2002.
Current UN depositary relationship to 1999 Terrorist Financing Convention. This is not a claim that the jurisdiction was already a Party on the GLOBAL event date; the national accession/ratification date is a separate LOCAL/STATUS fact.
UN Treaty Collection ↗Resolution 1267 imposed an assets freeze and other targeted sanctions in the Taliban context and created the Security Council committee that became the foundation of the UN 1267 sanctions architecture. It is a key global precursor to modern terrorist-financing targeted financial sanctions.
UN Members agree to accept and carry out Security Council decisions. This current Charter relationship is not proof of the jurisdiction’s domestic implementation, nor a claim about its membership status on the historical event date.
UN Charter · Article 25 ↗The Egmont Group's official Member FIU Information register records New Zealand's FIU admission date as 1997-06-30.
New Zealand is one of the 13 founding members of the Asia/Pacific Group on Money Laundering established in Bangkok on 27 February 1997.
The Financial Transactions Reporting Act 1996 imposed identity-verification, suspicious-transaction reporting and recordkeeping obligations on financial institutions. The principal provisions came into force on 1 August 1996, creating the statutory reporting framework that preceded the AML/CFT Act 2009.
FATF revised the Forty Recommendations to reflect evolving money-laundering methods and countermeasures.
Current relationship. Direct FATF membership and any listed regional assessment network participation are current profile relationships only. The GLOBAL milestone does not prove membership or domestic implementation on the event date; those remain LOCAL/STATUS evidence.
FATF Global Network ↗Representatives of 13 financial intelligence units met in Brussels on 9 June 1995 and founded what became the Egmont Group. The milestone created the operational global network for FIU-to-FIU cooperation and exchange of financial intelligence.
Current profile relationship to the Egmont network. This does not imply membership in 1995; admission history is a separate LOCAL/STATUS fact.
Egmont Group · Member FIUs ↗FATF records New Zealand as a member since 1991.
FATF issued its original Forty Recommendations, establishing the first global AML standard framework.
Current relationship. Direct FATF membership and any listed regional assessment network participation are current profile relationships only. The GLOBAL milestone does not prove membership or domestic implementation on the event date; those remain LOCAL/STATUS evidence.
FATF Global Network ↗The G7 established FATF in 1989 to examine and develop measures to combat money laundering. FATF became the central global standard-setting body whose recommendations are implemented through national and regional AML/CFT frameworks.
Current relationship. Direct FATF membership and any listed regional assessment network participation are current profile relationships only. The GLOBAL milestone does not prove membership or domestic implementation on the event date; those remain LOCAL/STATUS evidence.
FATF Global Network ↗The Vienna Convention was adopted on 20 December 1988 and created the first treaty-level international obligation to criminalise laundering conduct linked to drug-trafficking proceeds, alongside confiscation and international-cooperation measures. It entered into force globally on 11 November 1990.
Current UN depositary relationship to 1988 Vienna Convention. This is not a claim that the jurisdiction was already a Party on the GLOBAL event date; the national accession/ratification date is a separate LOCAL/STATUS fact.
UN Treaty Collection ↗The Basel Committee published a Statement of Principles for banks aimed at reducing the risk that banking institutions would be used by criminals or as channels for money laundering. This helped establish the preventive and supervisory side of AML alongside the emerging criminal-law framework.
A Basel supervisory publication does not become domestic law merely because it is GLOBAL. National adoption, supervisory use or incorporation must be evidenced by a LOCAL milestone or source.
Basel Committee on Banking Supervision ↗