29 October 2026

Kia ora,

I'm delighted to be joining DIA as Director AML/CFT and look forward to working with you as we continue to strengthen New Zealand's AML/CFT system.

I joined DIA from MBIE, where I led policy and regulatory work across complex system-wide and legislative reforms. This experience has reinforced for me the importance of strong relationships, practical regulation and working in partnership with the people and organisations we regulate. 

There is a significant programme of work underway across the AML/CFT regime, with change bringing both challenges and opportunities. I want to acknowledge the ongoing work reporting entities are doing to meet their obligations and help protect New Zealand from financial crime. 

My immediate priority is to meet as many people across the sectors as possible, hear your perspectives and understand the challenges you're facing, so we can build on the work already underway and identify where DIA can best support you.

I look forward to getting to know you and working together in the months ahead.

Ngā mihi nui, 
Antonia Reid
Director, AML/CFT

AML/CFT annual reporting: why accurate information matters

DIA recognises that completing annual AML/CFT reports takes time and effort, particularly for businesses managing their compliance obligations alongside their day-to-day operations. We appreciate the work reporting entities put into providing this information. 
 
Annual reporting is more than a tick-box exercise. Accurate and complete reporting benefits both individual businesses and the wider AML/CFT system. It helps DIA better understand each reporting entity’s risk profile, support a proportionate approach to supervision and identify where further guidance or engagement may be useful. 
 
In this article, we share some insights from the latest annual reporting period and explain how reporting entities can help ensure the information they provide supports an effective, risk-based approach to AML/CFT supervision. 

Preparing for the 2028/29 FATF Mutual Evaluation

New Zealand is preparing for its 2028/29 Financial Action Task Force (FATF) Mutual Evaluation, a whole-of-government assessment of how effectively New Zealand’s anti-money laundering and countering financing of terrorism (AML/CFT) system meets international standards and works in practice to prevent and detect financial crime.

Led by the Ministry of Justice, the evaluation involves DIA, as the AML/CFT supervisor, alongside Police and other government agencies. It is an important opportunity to demonstrate the effectiveness of New Zealand’s AML/CFT system and identify where further improvements may be needed.

This month, Andrew Hill joined DIA’s AML/CFT leadership team as Mutual Evaluation Lead, strengthening DIA’s preparations and contribution to the evaluation.

Andrew brings extensive AML/CFT experience, including roles leading the last Mutual Evaluation, heading the New Zealand Police Financial Intelligence Unit, representing New Zealand at FATF and other international AML/CFT forums, and most recently leading AML/CFT system reform and stewardship at the Ministry of Justice.

His appointment supports the coordinated work needed across government agencies, industry and the wider AML/CFT system in the lead-up to 2028/29.

Real estate agent project highlights importance of starting with risk assessment 

We recently completed a project to identify real estate businesses that may be required to comply with the AML/CFT Act but were not previously known to DIA. The project identified 64 additional real estate agents that are reporting entities that we were not previously aware of.

The project also provided useful insights into how newly identified reporting entities are approaching their AML/CFT obligations. 

While 86% of entities assessed had appointed an AML/CFT Compliance Officer, we identified that risk assessments and AML/CFT programmes were less consistently in place. The findings reinforce the importance of starting with a risk assessment, which provides the foundation for developing an effective AML/CFT programme and focusing resources on the risks that matter most.

Accredited digital credentials are now becoming available in New Zealand 

Accredited digital credentials are now becoming available in New Zealand, with major credentials such as the digital driver licence coming in 2027 and digital Kiwi Access Card expected in the next month.

Under the updated AML/CFT Identity Verification Code of Practice (IVCOP), reporting entities can accept digital credentials accredited under the Digital Identity Services Trust Framework, provided they meet the required level of assurance for the relevant ‘Know your Customer’ purpose.

The Trust Framework provides a consistent accreditation regime that gives organisations confidence in the integrity of accredited credentials, while allowing them to request only the information they need, such as a customer's name and date of birth, rather than collecting and storing full copies of licences or passports. In many cases, organisations can retain a record of the verification event instead of a document copy, reducing privacy risks and helping avoid the creation of large repositories of identity documents that are attractive targets for fraud and cybercrime.

DIA is working closely with the Government Digital Delivery Agency to support industry adoption and provide guidance on the use of accredited digital credentials for customer due diligence.

Visit Govt.nz for more information on digital credentials, or contact the Digital Trust Framework group for further questions: DISTF@gdda.govt.nz

Accounting Sector Risk Assessment webinar – recording and resources

Following publication of the 2026 Accounting Sector Risk Assessment, DIA hosted a webinar on 30 September to help reporting entities understand the key money laundering risks facing the accounting sector and what these mean for their AML/CFT obligations.

Delivered with Chartered Accountants Australia and New Zealand (CA ANZ) and the Restructuring, Insolvency and Turnaround Association of New Zealand (RITANZ), the webinar attracted approximately 370 attendees.

The session explored risks associated with company and trust structures, complex ownership arrangements, business establishment and restructuring, and financial transactions. It also highlighted how understanding sector-specific risks can help inform risk assessments and the development of effective AML/CFT policies, procedures and controls.

If you missed the webinar or would like to revisit the discussion, you can watch the recording or read the SRA on our website.

MOJ seeking feedback on AML/CFT class exemptions

The Ministry of Justice (MOJ) is seeking feedback from reporting entities that use three AML/CFT class exemptions.

The exemptions being reviewed are:

• Part 16: Transfers of Excess Tax – feedback will inform whether the exemption should be renewed, amended or allowed to expire when it reaches its current expiry date of 27 July 2027. Complete the survey.
• Part 17: New Zealand Financial Crime Prevention Network – feedback will inform whether the exemption should be renewed, amended or allowed to expire when it reaches its current expiry date of 30 September 2027. MOJ will email relevant entities directly.
• Part 19: Person acting by electronic means on behalf of customer – feedback will help MOJ assess whether the exemption is achieving its intended purpose and whether any amendments are needed before it expires on 31 December 2028. Complete the survey.

The surveys close on 20 November 2026. MOJ plans to consult users on its proposed recommendations in the first quarter of 2027 before providing advice to inform a final decision.

If your organisation uses any of these exemptions, MOJ encourages you to provide feedback to help inform the review.