The Department of Internal Affairs

Department of Internal Affairs | Te Tari Taiwhenua

Building a safe, prosperous and respected nation



 

Information for High Value Dealers

Guide to complying with the Anti-Money Laundering and Countering Financing of Terrorism Act - July 2026

This factsheet and quick start guide has been developed to inform AML/CFT reporting entities of their obligations under the Act and provide guidance on how to comply with those obligations.

Factsheet:

Quick Start Guide:

AML/CFT Reportng Entity Quick Start Guide - Click on image to open or download PDF (1MB)

Suspicious Activity Reporting Guidance for High-Value Dealers

18 June 2026

The Department has released guidance in collaboration with the New Zealand Police Financial Intelligence Unit to assist high-value dealers and persons in trade in specified high-value goods to comply with their suspicious activity reporting requirements under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.

Read the Guidance here:

Guidance for Implementing New Customer Risk-Rating

The Department has released new guidance to assist reporting entities in establishing a customer risk-rating system for new customers, as required under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 (the Act).

Effective from 1 June 2025, reporting entities must keep a record of the customer's risk rating, review the rating when conducting ongoing customer due diligence and account monitoring, and should update the rating where appropriate.

Prohibited cash transactions for specified high value goods

Any person in trade/business that buys or sells any of the following high value goods are prohibited from doing so by a cash transaction of $10,000 or more:

  • Jewellery
  • Watches
  • Gold, silver, or other precious metals
  • Diamonds, sapphires, or other precious stones
  • Motor vehicles (within the meaning of section 6(1) of the Motor Vehicle Sales Act 2003)
  • Boats/ships (within the meaning of section 2(1) of the Maritime Transport Act 1994)

This prohibition was introduced under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act). It makes it harder for criminals to use or move cash anonymously through the purchase or sale of these high value goods.

There are civil and criminal penalties if you do not comply with this prohibition.

Note: The prohibition also applies to related cash transactions if the total value is $10,000 or more. For example, if there are two or more cash payments on different days towards the same purchase, such as on layby, the total must not exceed $10,000. Bearer-negotiable instruments, such as cheques, are also subject to the prohibition (including related transactions).

High-value dealers in other goods

You are still considered a high-value dealer under the AML/CFT Act if you carry out cash transactions of $10,000 or more, in the ordinary course of business, and you are dealing in any of the following items:

  • Paintings
  • Prints
  • Protected foreign objects (within the meaning of section 2(1) of the Protected Objects Act 1975)
  • Protected New Zealand objects (within the meaning of section 2(1) of the Protected Objects Act 1975)
  • Sculptures
  • Photographs
  • Carvings in any medium
  • Other artistic or cultural artefacts

If so, your obligations under the AML/CFT Act will continue to apply in the same way.

It is your responsibility to ensure all your business activities comply with these new requirements.

If you are a high value dealer under the AML/CFT Act and require further information regarding the new prohibition, please contact the Department of Internal Affairs at amlcft@dia.govt.nz.

Identity Verification Code of Practice

Identity Verification Code of Practice 2026

A new Identity Verification Code of Practice has been published under the Anti Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act). The new Code commences on 1 July 2026.

Interpreting "Ordinary Course of Business" Guidance (updated July 2026)

This guidance is designed to assist businesses to interpret the meaning of the phrase “ordinary course of business,” referred to in the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. 

This July 2026 update replaces the previous version published in 2017.

Designated Non-Financial Businesses and Professions and Casinos Sector Risk Assessment – December 2019

The Designated Non-Financial Businesses and Professions and Casinos Sector Risk Assessment (DNFBP SRA) is a review of the characteristics of the sectors covered by the AML/CFT Act - lawyers, conveyancers, accountants, real estate agents, high value dealers and the New Zealand Racing Board. The SRA is intended to help the Department to understand the money laundering and terrorism financing risks across these sectors and assist reporting entities by providing guidance on the specific risks and vulnerabilities relevant to their business.

NZ Police Financial Intelligence Unit National Risk Assessment

The Financial Intelligence Unit of the New Zealand Police has released the National Risk Assessment (NRA) and a support document under the AML/CFT Act 2009.

The FIU has also released the National Risk Assessment (NRA) and a support document under the AML/CFT Act 2009. 

The NRA is designed principally for the use of the Ministry of Justice, AML/CFT supervisors, and the New Zealand Customs Service. The NRA may also be useful to reporting entities in understanding the broader picture of money laundering and terrorist financing risks at a national level.

The NRA can be found on the Police website.

Customer due diligence

In this section:

Beneficial Ownership Guidance (updated July 2026)

A key task in meeting the requirements of the AML/CFT Act is to identify and verify customers’ beneficial ownership arrangements. This guidance is to assist reporting entities in meeting the requirement to perform customer due diligence on the customer and beneficial owners of the customer.

Customer Due Diligence: Companies Guidance (updated July 2026)

Customer Due Diligence: Trusts Guidance (updated July 2026)

Customer Due Diligence: Limited Partnerships Guidance (updated July 2026)

Customer Due Diligence Guidance (updated July 2026)

The customer due diligence guidance documents are designed to help reporting entities to understand the identification and verification requirements for different types of customers. These guidance documents should be read in conjunction with the beneficial ownership and enhanced customer due dilligence guidance.

The Customer Due Diligence: Companies and Customer Due Diligence: Limited Partnerships Guidance assists reporting entities to understand and implement the requirement to undertake customer due diligence for nominee directors and nominee general partners. 

Enhanced Customer Due Diligence Guidance (updated June 2026)

This guidance assists you to conduct enhanced customer due diligence (EDD) on your customers under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 (the Act).

Enhanced Customer Due Diligence Guidance (PDF, 700KB)

Outsourcing to a Third-Party Agent (updated July 2026)

This guidance is intended to help reporting entities to understand the money laundering and terrorism financing risks and responsibilities associated with outsourcing their AML/CFT obligations to a third-party agent.

Reliance on Another Reporting Entity (July 2026)

This guidance is intended to support reporting entities to understand the risks and responsibilities associated with relying on another reporting entity (or equivalent in another country) for their customer due diligence requirements under the AML/CFT Act.

Designated Business Group Guidance (updated July 2026)

These July 2026 updates replace the previous versions published in September 2025.

Designated Business Group - Scope Guidance (updated July 2026)

This guidance is designed to assist reporting entities to understand which obligations may be shared by members of a designated business group.

Designated Business Group - Formation and Change Guidance (updated July 2026)

This guidance is designed to help reporting entities to understand the process to elect, form, change or terminate a designated business group.

Designated Business Group: Notification Form (updated July 2026)

Reporting entities may complete the notification form to inform the Department of a request to elect, form, change, or terminate a designated business group.

You can also manage a DBG through AML Online.

NZ Financial Intelligence Unit (FIU)

Please visit https://fiu.police.govt.nz if you require goAML assistance with:

  • How to register a new entity
  • How to register a new user to an existing entity
  • Useful frequently asked questions

Once logged into goAML further guidance and e-learning training is available by selecting the “?” icon on the blue task bar.