Tackling money laundering and terrorist financing

The Government is developing law changes that will improve New Zealand’s ability to tackle money laundering and terrorist financing.

We’re planning to extend the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act to more businesses that evidence shows are at high risk of being misused by criminals.

The proposed reforms aim to put in place practical measures to protect businesses and make it harder for criminals to profit from and fund illegal activity. They’ll also safeguard and help New Zealand live up to our reputation as being corruption free and a good place to do business.

 What is money laundering and terrorist financing?  Have your say on the Phase 2 AML/CFT exposure draft amendment Bill

Information for Phase 2 businesses

  • Lawyers

    If you provide certain types of legal services, you’ll need to comply with the AML/CFT Act. Find out if the proposed reforms affect you, and what you’ll need to do.

  • Accountants

    If you provide certain types of business services, you’ll need to comply with the AML/CFT Act. Find out what you’ll need to do if the proposed reforms affect you.

  • Conveyancers

    All conveyancers will need to put AML/CFT measures in place. Find out how the proposed reforms affect you.

  • Real estate agents

    You’ll have to comply with the AML/CFT Act when you represent someone who’s either selling or buying real estate. Learn how the proposed reforms will affect you.

  • Businesses trading in high value goods

    Find out how the proposed reforms affect you if you deal in jewellery, precious metals, precious stones, watches, motor vehicles, boats, art or antiquities.

  • Sports and racing betting

    The New Zealand Racing Board, which administers all racing and sports betting in New Zealand, will need to put AML/CFT measures in place once ‘Phase 2’ of the Act comes into effect.

This page was last updated: