New Zealand Department of Internal Affairs launches 22 AML CFT guidance updates as it becomes sole supervisor

The New Zealand Department of Internal Affairs has released a broad suite of new and updated anti-money laundering and countering financing of terrorism guidance as it takes over as the country’s sole AML/CFT supervisor. The package comprises 22 guidance documents and supporting materials and is intended to give reporting entities clearer expectations on how to meet their obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act. The release spans core compliance and onboarding topics, including a general compliance guide and a quick-start guide, as well as updated material on risk assessments, country risk, territorial scope and the meaning of acting in the ordinary course of business. It also refreshes customer due diligence guidance across beneficial ownership, companies, trusts, limited partnerships, acting on behalf arrangements, clubs and societies, co-operatives, sole traders and partnerships, outsourcing and reliance on another reporting entity. Other updates cover designated business groups, audit expectations, wire transfers and prescribed transaction reporting for designated non-financial businesses and professions and non-bank financial institutions, and a new class exemption guidance note for the New Zealand Financial Crime Prevention Network. The package follows updated AML/CFT compliance programme and enhanced customer due diligence guidance issued in June to support implementation of the AML/CFT Amendment Act 2026. Further guidance is due in the coming months, alongside webinars, industry outreach and targeted engagement to support implementation.