24 March 2026

Kia ora,

Welcome to the March edition of In the Know. This month brings several important updates across our regulatory work including:

• Move to single AML/CFT supervisor
• New guidance on Privileged Communications and Suspicious Activity Reporting
• DIA signs Memorandum of Understanding with the Real Estate Agents Authority
• Iran sanctions
• Introducing Reg Talk NZ
• Scam alert emails

We also highlight what is coming up, including April registration details for the May webinars on the Regulatory Strategy 2026-2030 and our Operating Model.

Thank you for staying connected as we progress this work.

Ngā mihi,
Serge Sablyak
Director AML/CFT

Move to single AML/CFT supervisor

Thank you to everyone who took the time to complete our Single Supervisor Transition (SST) survey for reporting entities. We’re pleased to share some of the insights with you here, as well as what’s on the horizon over the coming months. 
 

Single Supervisor Transition (SST) Survey

We received over 200 responses from reporting entities across all three AML/CFT supervisors, with 84% of responders not anticipating any significant challenges on July 1. There was also broad support for the transition, with the shift seen as an opportunity to refocus on risk, remove duplicated steps, and streamline processes.

The remaining 16% wanted to see more clarity around future supervision expectations, including the formation of Designated Business Groups, more detail about our sector specific areas of expertise, and a few people expressed some concern over the potential for additional compliance burdens and costs.

Overall, we saw a strong desire for a simpler AML/CFT system with more proportionate regulation and continued clear communication throughout the transition.

The top areas of interest were:

• What to expect from the DIA as the new AML/CFT regulator
• AML Online training, education and guidance on how to submit AML/CFT annual reports
• Where to submit AML/CFT enquiries and guidance as it relates to SST legislative reforms. 

We’ll be sharing more information about our regulatory approach and how to use AML Online in the coming months, so please keep an eye out for these updates.  

DIA's Regulatory Strategy 2026-2030 and Operating Model webinars

We will be running webinars in May, to help you prepare for the new business as usual, single regulator model about our new Regulatory Strategy 2026-2030 and Operating Model. We’ll be sending out more information in April, including session times and how to register. 


Ministry of Justice’s levy consultation has opened  

The Ministry of Justice is leading the work, in consultation with industry, on a proposed new levy to fund the new AML/CFT system.  

All reporting entities will receive an email inviting them to attend an online or in-person engagement session this month.

Public consultation is now open, including how the levy could be structured, how costs may be shared across sectors, and proposed rates. Consultation closes on 10 April.

Read more about the AML/CFT reforms on the Ministry of Justice website by clicking the button below.


Finally

Thanks once again to those of you who responded to our survey. Your feedback is invaluable and will help us ensure a smooth transition. A big thanks also goes to RBNZ and FMA for sharing the survey with their reporting entities and for the continued support.

And, if you haven’t already, please take a look at our SST information sheet which outlines what steps can be taken ahead of the transition as well as what’s happening and why.

New guidance on Privileged Communications and Suspicious Activity Reporting

We have released new guidance to assist law firms to navigate their privilege and suspicious activity reporting obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. 

This guidance:

• outlines how to balance privilege with your obligation to report suspicious activities 
• provides practical direction on assessing privilege
• supports you in strengthening your AML/CFT Risk Assessment and Programme.

Rachel Leota - DIA Deputy Secretary, Regulatory and Identity Services & Belinda Moffat - REA Chief Executive/Registrar

DIA signs MoU with the Real Estate Agents Authority

We are excited to share that we have signed a Memorandum of Understanding with the Real Estate Agents Authority to support effective regulation of the real estate sector under the AML/CFT Act.

The MoU identifies opportunities for REA and DIA to work together under the powers conferred by the AML/CFT Act and streamline processes, marking a significant milestone in our collective goals to protect consumers and communities.

We look forward to working with REA on our shared goals of raising professional conduct, consumer protection, and compliance with the law.

Iran sanctions

Due to the conflict involving the United States, Israel, and Iran, it is important that all reporting entities remain aware of New Zealand’s current sanctions on Iran.

On 18 October 2025, New Zealand implemented “snapback” sanctions on Iran in accordance with our obligations under the United Nations Security Council. The United Nations Sanctions (Iran) Regulations 2025 introduce a range of obligations for any person in New Zealand, as well as New Zealand citizens and entities operating internationally, who are conducting or intending to conduct business with Iran.

In addition, on 1 February 2026, New Zealand introduced a compulsory registration scheme for all New Zealand persons and entities wishing to engage in business with Iran. Registration with the New Zealand Sanctions Unit within the Ministry of Foreign Affairs and Trade (MFAT) is required before any such business activity is undertaken.

All reporting entities should remain vigilant to any attempts by customers to circumvent Iran sanctions, including using intermediary jurisdictions or complex transaction structures with potential links to Iran. You are also reminded of your obligation to submit a Suspicious Activity Report (SAR) in relation to any activity or transaction suspected of being connected to sanctions circumvention or evasion.

Detailed Information about New Zealand’s Iran sanctions regime and the registration requirements is available by clicking the button below.  If you have any questions about the obligations or need to register with MFAT, please email: Sanctions@mfat.govt.nz

Introducing Reg Talk NZ - a DIA regulatory podcast 

We’re proud to announce the launch of ‘Reg Talk NZ’ - a podcast covering gambling, anti-money laundering, and charities regulation, delivered in an accessible, digestible audio format. 

Episodes will feature a mix of updates on important changes, interviews with local and international experts, and deep dives into specific topics relevant to the sectors we regulate. Listeners can also ask us questions and have them answered in regular “Mailbag” episodes.  

Check out ‘Reg Talk NZ’ online, or search for it on your favourite podcast app. Be sure to subscribe so you don’t miss any future episodes, and get in touch with the podcast team at podcast@dia.govt.nz  

Scam awareness

Ongoing reports show scam emails pretending to be from DIA's AML/CFT Group. Some are claiming funds have been frozen, requesting payments, or asking for identity details.

Learn the key signs to watch out for and what actions to take if you're targeted.