Latest news

The Fiducia team's latest views on AML/CFT in New Zealand

New Zealand Business, Money Laundering Risks, Regulators, Phase 2/ 2017-06-21T11:34:19+00:00 May 31st, 2016|

Changes Afoot to AML Legislation

Expansion of the New Zealand Anti-Money Laundering and Counter Funding of Terrorism Act 2009 (AML/CFT Act) appears in be in train.

Prime Minister John Key’s statement on Monday 30 May indicates that Phase Two of the AML/CFT Act is close to being implemented. The expansion of the legislation would expand those currently captured by the AML/CFT Act to include professions and businesses dealing in high-value goods, such as lawyers, accountants, conveyancing practitioners and real estate agents.

While Phase Two has long been expected, the fallout from the Panama Papers appears to be the catalyst for the New Zealand central government’s hurrying up of the work. On Monday Key said:

“There’s no question that, as a result of debate around the Panama Papers and the wider public debate globally about this issue, we’re certainly trying to push part two of that through as quickly as we can.”

He expects to see the changes to the AML/CFT Act ready for mid-2017.

Interested in how the changes to the AML/CFT Act will affect you and your business? Drop us a line at

Fiducia is New Zealand’s most trusted AML/CFT compliance specialists.
We take care of your compliance needs so that you can get back to business.
Contact us today.

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 Any content that you’re accessing here may be inaccurate, incomplete or outdated.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.