New Zealand Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act)

What New Zealand Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) requires

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 establishes New Zealand's AML/CFT regulatory framework, requiring reporting entities (banks, non-bank deposit takers, life insurers, money changers, lawyers, accountants, real estate agents, and others) to conduct customer due diligence, maintain an AML/CFT programme, file suspicious transaction reports with the Financial Intelligence Unit, and submit annual reports to their designated supervisor. The Act is administered by three supervisors: the Reserve Bank of New Zealand, the Financial Markets Authority, and the Department of Internal Affairs. Under Section 22, standard customer due diligence must be conducted before establishing a business relationship or conducting an occasional transaction. Section 31 requires suspicious transaction reports to be filed with the Commissioner of Police as soon as practicable. Section 40 mandates a documented and maintained AML/CFT programme for all reporting entities. Record-keeping obligations under Section 56 require retention of transaction and identity verification records for five years.

Pillar: Financial Crime, AML & Sanctions · Authority: Reserve Bank of New Zealand; Financial Markets Authority; Department of Internal Affairs · Version: 1.0.1 · Last updated: 2026-04-30

Primary source: https://www.legislation.govt.nz/act/public/2009/0013/latest/whole.html

SHA-256 integrity: 974dd17f2738415a925c166ffbb798409e6a1f7c2263bed4382f9e84ad1d1d99

Primary Citations — 7 traced to source

• Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (NZ), Section 6 - Meaning of money laundering for purposes of the Act
• Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (NZ), Part 2 - Customer due diligence and ongoing account monitoring obligations for reporting entities

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