AML/CFT National Strategy 2026-2030

A new Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) National Strategy 2026-2030 came into effect on 1 July 2026. The Strategy is designed to protect communities, strengthen law enforcement, and make compliance simpler and more targeted for businesses.

Developed in consultation with industry, the Strategy sets out the Government’s plan and vision to create a world class AML/CFT system that makes it easy to do business and hard to commit crime. The associated work programme will be led by the Ministry of Justice, the Department of Internal Affairs (DIA) and the New Zealand Police Financial Intelligence Unit (FIU). The Strategy ensures that agencies are working collaboratively towards a common vision and set of goals.

AML/CFT National Strategy 2026-2030 [PDF, 1.4 MB]

AML/CFT Work Programme 2026-2030 [PDF, 276 KB]

Funding the reform programme

Cabinet agreed to a hybrid model of funding including a new industry levy to part-fund the AML/CFT system in parallel with Crown funding. The new levy will increase production of intelligence by the New Zealand Police Financial Intelligence Unit for law enforcement, DIA to enhance their supervision function, and for the Ministry of Justice to administer the regulatory system.

In June 2026, following consultation with industry, Cabinet agreed that the levy will be paid by three groups of reporting entities in sectors assessed as high-risk or medium-high risk by Sector Risk Assessments and the 2024 National Risk Assessment:

  1. Banks/deposit takers will contribute 85% of total levy costs.
  2. Gambling sector (casinos, including online casinos and TAB/Entain) will contribute 9% of levy costs.
  3. Non-bank Financial Institutions and Designated Non-Financial Business and Professions will contribute the remaining 6%.

The levy will recover costs of approximately $22.75 million per annum from 2026/27 to 2029/30. As agencies will begin implementing the National Strategy work programme from 1 July 2026, costs will be incurred before the levy is payable. This is estimated to create a deficit of $22.55 million. The deficit will be recovered over a five-year period (in line with most stakeholders’ views during consultation in March/April 2026). From 1 July 2027, the levy will recover $27.33 million per annum from the three reporting entity groups identified above.

The levy will be reviewed every three years. Agencies will review levy expenditure and revenue annually, and publish an annual report as required by the AML/CFT Act. Levy regulations may be amended earlier than the three-year period if a surplus or deficit arises that cannot be addressed by reprioritisation or other cost reductions. The Ministry will consult levy payers on any proposed changes.

The levy was designed in consultation with industry and will be payable from July 2027.

Industry and the public were consulted on the design and final proposed structure of the levy in March/April 2026. The consultation document and closed consultation webpage is available at:

Anti-Money Laundering and Countering Financing of Terrorism: Levy Proposals [PDF, 719 KB]

AML/CFT Levy Proposals - Ministry of Justice - Citizen Space(external link)

 
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