3 July 2026

Kia ora,

Welcome to a new chapter for New Zealand's AML/CFT system. This week marks a historic milestone, with the Department of Internal Affairs now New Zealand's sole AML/CFT regulator.

1 July also marks the commencement of the AML/CFT National Strategy 2026–2030 and our new regulatory approach. We encourage you to take the time to familiarise yourself with the Strategy and Work Programme, which set out our shared priorities for the next four years and how we will work alongside industry to build a more consistent, risk-based, and effective AML/CFT system.

We are also delighted to welcome our new colleagues who have joined the Department from the Financial Markets Authority and the Reserve Bank of New Zealand. We are particularly pleased to welcome Kirsty Pleace and Damian Henry, who have joined our leadership team as Deputy Directors. Their experience and expertise will be invaluable as we bring together AML/CFT supervision under a single regulator, and we look forward to the contribution they will make in strengthening New Zealand's AML/CFT system.

In this edition, we are pleased to share a suite of new and updated AML/CFT guidance released on 1 July. This represents one of the most significant updates to our guidance in recent years and is designed to provide practical support to reporting entities as they meet their obligations under the new regulatory framework.

As we begin this new chapter, we look forward to working closely with you and continuing to build strong, constructive relationships across all regulated sectors.
Thank you for your ongoing engagement and commitment to protecting New Zealand's financial system from money laundering, terrorism financing, and proliferation financing.

Ngā mihi nui,
Caroline BridglandHill
Acting Director AML/CFT

New AML/CFT guidance released to support clearer, more consistent compliance

On 1 July, we released a significant suite of new and updated AML/CFT guidance and educational resources as part of our ongoing programme to improve clarity, strengthen consistency and practical understanding across the system.

This is one of the most substantial guidance releases in recent years and is designed to provide regulated entities with practical, accessible support to meet your AML/CFT obligations.

The new and updated materials cover the full range of core AML/CFT requirements, including how businesses should apply customer due diligence (CDD), beneficial ownership, and key onboarding processes such as acting on behalf of customers, outsourcing CDD and relying on third parties.

They also provide clearer guidance on how to assess and manage risk, including through risk assessments and country risk considerations, and set expectations around structural and governance arrangements such as designated business groups and the ordinary course of business test.

Additional resources support specific operational requirements, including AML/CFT audit expectations, wire transfer obligations, territorial scope, and annual reporting requirements. A suite of practical CDD guides has also been published to assist with common customer types, alongside introductory guidance for new regulated entities.

This release forms part of a broader 2026 programme of guidance development. Further materials will continue to be published over the coming months, alongside webinars and engagement sessions to support understanding and practical implementation.

We encourage you to take the time to read the new guidance and consider how it applies to your business.

Annual reporting now underway

Annual reporting for the period 1 July 2025 – 30 June 2026 is now open. Reporting entities should have received an email from DIA with further information about this year’s reporting process.

If your Compliance Officer details or other key reporting entity information has changed, please contact us at amlcft@dia.govt.nz so we can ensure our records are current.

AMLOnline Drop-In Sessions

We’re running AMLOnline drop-in sessions for new DIA reporting entities.

AMLOnline is DIA’s secure online platform for reporting entities to submit annual AML/CFT reports and more.

The purpose of these sessions is to provide an overview of how AMLOnline works including registration requirements, AML/CFT information sources, AML Online overview of functions including a live demo to cover annual reporting, delegate access, Designated Business Groups and how to submit documents and enquiries.

Our Senior Regulators will lead these sessions, and we’ll be joined by our new colleagues from the Financial Markets Authority and Reserve Bank of New Zealand.

Sessions have been segmented into sectors however; the content will be largely the same across all sessions, and you are welcome to come to which ever session suits you best. 

Please note, these sessions will not be recorded, however, there will be an information pack shared with attendees after the sessions.

Please register for your preferred session below:

• Wednesday 8 July, 10:00am – 10:30am - banking, non-bank deposit takers (NBDT) & life insurers
• Wednesday 8 July, 11:00am – 11:30am - financial markets
• Thursday 23 July, 1:30pm-2:00pm - general 
• Monday 3 August, 2:30pm-3:00pm - banking, NBDT and life insurer
• Thursday 6 August, 11:30am-12.00pm - financial markets   

A reminder to stay on track with independent audits

Recent enforcement action is an important reminder to stay on top of your AML/CFT audit obligations.

In June 2026, formal warnings were issued to multiple reporting entities that repeatedly failed to complete independent audits.

Independent audits are a legal requirement that test whether your AML/CFT programme is working in practice and reflects your current risks. Without regular audits, gaps can go undetected, increasing the risk that your business could be used for money laundering or other criminal activity.

What you need to do:

• Check when your next audit is due
• Engage an independent, appropriately qualified auditor early
• Use audit findings to update your risk assessment and AML/CFT programme.

Now is a good time to make sure your audit arrangements are in place and up to date. More detail is set out in the Audit Guideline below.