The New Zealand Department of Internal Affairs has published its 2026 accounting sector risk assessment, identifying services that criminals may misuse to move, conceal or legitimize illicit funds. Key exposures include company and trust structures, complex ownership arrangements, business establishment and restructuring, and other financial transactions. Accounting practices should understand their clients, identify who ultimately owns or controls businesses and structures, and assess whether activities and transactions are consistent with the client relationship. The assessment emphasizes effective customer due diligence, ongoing monitoring and suspicious activity reporting, with firms expected to direct resources and controls toward their specific risk levels rather than apply a uniform approach.
2026-09-09Department of Internal Affairs
New Zealand Department of Internal Affairs identifies accounting sector financial crime risks in new assessment
The New Zealand Department of Internal Affairs has identified financial crime risks arising from accounting services involving corporate and trust structures, complex ownership, business restructuring and financial transactions. Accounting practices should apply proportionate AML/CFT controls, including customer due diligence, beneficial ownership checks, ongoing monitoring and suspicious activity reporting.