New Zealand has simplified its anti-money laundering system by appointing the Department of Internal Affairs (DIA) as the country’s single anti-money laundering and countering financing of terrorism (AML/CFT) regulator.
Around 1,200 businesses have moved under DIA’s supervision, meaning all of New Zealand’s approximately 6,100 reporting entities are now overseen by the same regulator.
Associate Justice Minister Nicole McKee said the change would provide clearer guidance, more consistent oversight and less confusion for businesses meeting their compliance obligations.
“Businesses and their customers should not be buried in pointless paperwork when the real target is organised crime, fraudsters, and those moving dirty money through New Zealand,” she said.
The reforms also mark the beginning of a four-year programme to implement the AML/CFT National Strategy 2026–2030, which aims to make it easier to do business while making it harder for criminals to misuse the financial system.
An industry levy will also be introduced from July 2027 to help fund the reforms. According to the Government, the levy will strengthen financial intelligence, improve supervision and support the ongoing administration of the regulatory system.
Ms McKee said the reforms would help authorities combat the more than $1.6 billion estimated to be laundered in New Zealand each year while creating a more practical compliance framework for businesses.
What this means for property buyers and sellers
Anti-money laundering rules affect many property transactions because professionals such as mortgage advisers, lawyers and real estate agents must verify their clients’ identities and confirm where the money being used in the transaction has come from.
While these checks can sometimes feel repetitive, they play an important role in protecting New Zealand’s financial system from organised crime and fraud.
The Government hopes that having a single regulator will make compliance requirements clearer and more consistent, reducing unnecessary complexity while maintaining strong safeguards. Over time, that could lead to a smoother experience for consumers moving through the property buying or selling process.
The lending process is often smoother when buyers understand the documentation they’ll be asked to provide from the outset. If any of your clients have questions before applying for finance, send them our way and we’ll guide them through the requirements with confidence.
