Am I A Reporting Entity?

Who is caught by the AML/CFT Act requirements

The Anti-Money Laundering and Counter Financing of Terrorism Act 2009 (the AML/CFT Act) has required New Zealand financial service providers to comply with its requirements since 2013. Additional New Zealand businesses are now preparing to be caught.

Here, we outline who needs to comply now, who needs to comply soon, and what to do about it.

Should I be compliant now?

If you are selling a type of financial service or product in New Zealand, you are most likely a reporting entity.

Supervisors determine if you are a reporting entity through the type of products and services you sell.

If your business includes one or more of the activities listed in section 5 of the AML/CFT Act you are a reporting entity and must be compliant with all its requirements from the day you commence financial activity.

If you provide one of these types of products or services, you’re likely a reporting entity. There are three government departments that supervise different industries, and your next step is to work out who that is.

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Should I prepare to comply?

Lawyers, accountants, real estate agents, and high value dealers are being included in the requirements of the updated AML/CFT Act. At the time of writing in June 2017 we know only what the draft consultation documents have told us.

If you provide one of these types of products or services, you’re likely to become a reporting entity.

The best way to stay informed about when these requirements will affect you is to:

We’re helping businesses like yours prepare now. Give us a call to start your AML/CFT compliance journey ahead of the game.

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Fiducia from the very start have concentrated more attention to detail to our specific needs which for us is important as our business is very unique. They took the time to first learn our business model in order to give us the best possible result.

Michael Walker, Managing Director, BlackBull Markets


We’ve got AML/CFT DIY Templates ready for you to download and use right away.

Simple, effective, affordable.

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Hey! This fine print matters! Any content that you’re accessing here may be inaccurate, incomplete or outdated. The reasons for this include that only the New Zealand AML/CFT regulators can tell you what constitutes AML/CFT compliance. Their guidance continues to develop as the regime develops and matures. Your use and interpretation of any content on this site is your responsibility and is at your own risk. This content does not constitute investment or financial advice, taxation advice, accounting advice or legal advice, and use of our services does not establish a fiduciary relationship of any kind.  See Section 9 of our Terms and Conditions for all information relating to your use of the content on this site.