The Government has released New Zealand’s new Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) National Strategy for 2026-2030. The strategy aims to strengthen the system and reduce unnecessary compliance for low-risk activity.

Associate Justice Minister Nicole McKee said “the Strategy is designed to make it easier for legitimate New Zealanders and businesses to operate, while making it harder for criminals to hide and profit from illicit activity”.

CA ANZ participated in the consultation on the Strategy, seeking clear direction and certainty about the Government’s priorities for the AML/CFT system.

To support moving towards a risk-based AML/CFT system, the Strategy aims to:

• reduce unnecessary requirements for low-risk customers and transactions
• allow reporting entities to focus on areas of genuine money laundering and terrorism financing risk; and
• improve access to basic financial services for New Zealanders.

The Strategy captures the legislative changes to simplify customer due diligence requirements where the risk of money laundering is low. It will focus enforcement and supervision on higher-risk sectors and activities.

The Strategy sets the direction for reforms that will be progressed through legislation, guidance and supervisory practice over time.

CA ANZ will continue to monitor developments, engage with officials, and advocate for changes that enable our members to maintain effective AML/CTF programs. We will provide updates as further detail becomes available.

If you would like to discuss further, please reach out to [email protected]