August issue

Kia ora

Welcome to the August edition of In the Know. With annual reporting closing this week, we remind reporting entities to submit their reports by this Sunday, 31 August. Thank you to those who have already done so. Your responsiveness, supported by the streamlined submission process, has contributed to a strong submission rate so far. 

In this issue, we share updates on annual reporting, enforcement outcomes, thematic review findings, sector risk assessments, and recent FATF publications. As the AML/CFT system continues to evolve, staying informed and engaged with these developments helps ensure practices remain effective, responsive and fit for purpose.

Ngā mihi,
Serge Sablyak
Director AML/CFT

Annual report due 31 August 2025

The AML/CFT annual report is due by 31 August. The annual report provides the Department with a system-wide view of AML/CFT activity, helping to identify trends, risks, and areas where further support or guidance may be needed. This year’s submission process is simpler: reporting entities now only need a standard RealMe login with two-factor authentication (2FA), rather than a RealMe verified identity.

We’ve seen strong submission rates so far, reflecting growing awareness and commitment to timely compliance. If you have not submitted yet, now is the time.

Need Help?

Visit the annual reporting webpage below for more information.

Christchurch Casino settlement reached

A settlement has been reached in the Department of Internal Affairs’ civil proceedings against Christchurch Casinos Limited for alleged breaches of its obligations under the AML/CFT Act 2009.  

As part of the settlement, Christchurch Casino has admitted all seven causes of action in DIA’s amended statement of claim and has agreed to join DIA in recommending that the High Court impose a penalty of $5.06m on Christchurch Casino.  

“We’re proud that our work has strengthened the integrity of New Zealand’s financial system and has helped build public confidence in the prevention of money laundering and terrorism financing,” said Serge Sablyak, Director AML/CFT.  

For more information, you can find the official media release below:

New Sector Risk Assessment

We are developing a new series of Sector Risk Assessments to help reporting entities better understand AML/CFT risks specific to their sector.

The release of the 2024 National Risk Assessment in March 2025 provides an opportunity to reassess sector risks outlined in our current two sector risk assessments. With six years of supervision and information since the last series of Sector Risk Assessments, the new assessments will provide more targeted insights into sector-specific vulnerabilities, threats, and the impact of AML/CFT regulation. 

Sector Risk Assessments are a key tool to support reporting entities in identifying and managing their money laundering and terrorism financing risks. Reporting entities are expected to consider the content when assessing their own risks and updating their AML/CFT programme.

The new assessments will be released progressively over several quarters, with the first expected in the next few months. We will keep you updated as they become available.

For any questions, feel free to contact us at amlcft@dia.govt.nz.

Insights from recent reviews

The AML/CFT Group recently completed two thematic reviews that offer insight into how different parts of the AML/CFT system are responding to regulatory obligations. The first focused on Virtual Asset Service Providers (VASPs), and the other on independent audits under section 59 of the Act.

Raising awareness of foreign bribery

The Serious Fraud Office (SFO) has launched a campaign to raise awareness of foreign bribery and its impact on New Zealand’s financial integrity. 

Foreign bribery occurs when a person or business offers, gives, or promises a bribe to influence a foreign public official. It’s a criminal offence and can involve money, gifts, travel, or other benefits. Bribery in private international business transactions is also illegal. 

Please note that if there are reasonable grounds to suspect a transaction or activity is related to bribery (or other criminal activity), a suspicious activity report must be submitted to the NZ Police Financial Intelligence Unit (FIU). In addition, the SFO has introduced a secure, anonymous reporting tool that can also be utilised.   

To learn more about what constitutes bribery, click the button on the left. For further information relating to suspicious activity reporting obligations, please refer to the FIU website below on the right.

Recent publications from FATF

The Financial Action Task Force (FATF) has released new resources that may be helpful to reporting entities and AML/CFT professionals.