AML/CFT and Financial Services Compliance
Merran Keil advises reporting entities on AML/CFT obligations and enforcement risk under the Department of Internal Affairs, New Zealand's single AML/CFT supervisor since 1 July 2026, and on financial-services compliance and governance.
Overview
The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) imposes obligations on a wide range of businesses in New Zealand. Since 1 July 2026, the Department of Internal Affairs (DIA) has been New Zealand's single AML/CFT supervisor, responsible for monitoring and enforcing compliance across all reporting entities.
Merran Keil advises reporting entities — including financial institutions, lawyers, accountants, real estate agents and other businesses subject to the AML/CFT Act — on their compliance obligations, risk assessment, and on responding to DIA inquiries, audits and enforcement action.
Matters Merran Can Assist With
- AML/CFT compliance obligations under the AML/CFT Act
- Risk assessment and compliance programme advice
- Responding to DIA inquiries, audits and information requests
- DIA enforcement proceedings and regulatory defence
- Financial-service-provider registration and obligations
- Financial-services compliance and governance
- Director and officer liability in AML/CFT matters
- Associated AML/CFT risks under DIA supervision, where applicable
Frequently Asked Questions
Who supervises AML/CFT compliance in New Zealand from 1 July 2026?
From 1 July 2026, the Department of Internal Affairs (DIA) is New Zealand's single AML/CFT supervisor, responsible for monitoring and enforcing compliance with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 across all reporting entities. The FMA and Reserve Bank previously held supervisory roles for their respective sectors.
What should I do if I receive a DIA inquiry or audit notice?
You should seek specialist legal advice promptly. A DIA inquiry or audit is a formal regulatory process and your response can significantly affect the outcome. Merran Keil can advise you on your rights, obligations and response strategy.
Who is required to comply with the AML/CFT Act?
The AML/CFT Act applies to a wide range of businesses, including banks, non-bank deposit takers, life insurers, financial advisers, lawyers, accountants, real estate agents, casinos and other designated businesses. If you are unsure whether your business is a reporting entity, Merran can advise you.