Tackling money laundering and terrorism financing

A programme of legislative reform is overhauling New Zealand’s system for tackling money laundering and terrorist financing. The reforms aim to provide regulatory relief for businesses, detect and deter criminals from our financial system, and protect our international reputation as a trusted place to do business.

The reforms:

  • provide immediate regulatory relief to businesses
  • introduce structural changes to improve system efficiencies. This includes moving to a single supervisor, developing a National Strategy and work programme, and a new sustainable funding model
  • make regulatory improvements to provide further regulatory relief to New Zealanders, and to uphold our international reputation as a safe country to invest and do business.

Read the announcement by the Associate Minister of Justice, Hon Nicole McKee:

Government to overhaul anti-money laundering regime(external link)

On this page:

What is money laundering and terrorism financing?

Money laundering is the process criminals use to ‘clean’ the money they make from illegal activities such as fraud, drugs, and tax evasion. They do this by buying, selling, and channelling funds through things such as property, luxury goods and financial services.  Criminals launder money so it looks like it comes from a legitimate source, to cover their tracks and avoid being detected. They then spend the money or use it to fund criminal activities.  People who finance terrorism use similar methods to channel funds to violent causes. For more information, see:

What is money laundering and terrorism financing?

How does the AML/CFT system currently work?

The foundation of New Zealand’s system to tackle money laundering is the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 and associated regulations.

On 1 July 2026 the Department of Internal Affairs took over responsibility for supervising and providing guidance to businesses and industries who are required to comply with the AML/CFT Act. These are:   

  • Accountants
  • Banks
  • Casinos and Gambling
  • Financial service providers and other financial institutions (including non-bank deposit takers).
  • Law firms and conveyancers
  • Money or Value Transfer Services (remittance)
  • Real estate agents
  • Trust of Company Service Providers (TCSP)
  • Virtual Asset Service Providers (VASP).

For more information on AML/CFT supervision, visit  AML-CFT Homepage(external link)

Other government agencies involved in the AML/CFT regime include:

  • The Ministry of Justice is responsible for policy development and administration of the law. It also handles all matters related to exemptions from the Act.
  • The New Zealand Police Financial Intelligence Unit receives and analyses suspicious transaction reports.  It issues guidance to reporting agencies and supervisors about compliance under the Act and provides information on money laundering and terrorism trends and methods. Financial Intelligence Unit (FIU)(external link)
  • The New Zealand Customs Service enforces the Act’s cross-border cash reporting scheme. Border Cash Reports review(external link)

Ministerial announcements

Read the announcements of the Associate Minister of Justice, Hon Nicole McKee:

New AML code delivers practical changes for New Zealanders(external link)

Laws passed to deliver AML red tape relief(external link)

Speech to AML Summit 2026(external link)

Anti-money laundering law change provides immediate relief for businesses(external link)

Cutting red tape so young Kiwis can start saving(external link)(external link)

Simplifying requirements around family trusts(external link)(external link)

Targeting criminals, not Kiwi businesses(external link)(external link)

Red tape relief making a difference for businesses(external link)

Speech at the AML Summit 2025(external link)

More AML relief on the way for Kiwi businesses(external link)

Kiwi businesses to face reduced AML burden(external link)

International Anti-Money Laundering rule changes support government reforms(external link)(external link)

Briefings, Cabinet papers and other proactive release material

December 2025: Briefings and aides memoire:
AML/CFT Reform (Workstreams 2 & 3) tranche 2 [PDF, 5.9 MB]

September 2025: Cabinet papers, appendices, minutes and a Regulatory Impact Statement: AML/CFT Reforms (Workstreams 2 and 3) [PDF, 3.6 MB]

February 2025: Cabinet papers, minutes and Regulatory Impact Statements: Proposals for an AML/CFT legislative work programme [PDF, 7.5 MB]

Official Information Act response (November 2024) [PDF, 5.3 MB]

Official Information Act response (November 2024) [PDF, 196 KB]

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