New sector risk assessment highlights money laundering risks facing accountants
9 September 2026
A new sector risk assessment published by the Department of Internal Affairs highlights the money laundering, terrorism financing and proliferation financing risks facing accounting practices.
The Accounting Sector Risk Assessment 2026 identifies the services and activities within the accounting sector that may be attractive to criminals seeking to move, conceal or legitimise illicit funds.
The sector risk assessment draws on the 2024 National Risk Assessment, supervisory experience, intelligence and sector information to provide an updated view of the financial crime risks in the accounting sector.
“Accountants are trusted advisers and play an important role in protecting New Zealand’s financial system. But the services they provide can also be attractive to criminals seeking to hide the ownership, source or movement of illicit funds,” Caroline Bridgland-Hill, Acting Director, AML/CFT, at the Department of Internal Affairs says.
“The sector risk assessment highlights risks associated with services such as company and trust structures, complex ownership arrangements, business establishment and restructuring, and other financial transactions.
“These services are not inherently high risk. But they can be misused by criminals, which is why understanding the risks and applying effective controls is so important.
“Accountants need to understand who their clients are, who ultimately owns or controls businesses and structures, and whether a client’s activities and transactions make sense in the context of the relationship.
“Effective customer due diligence, ongoing monitoring and suspicious activity reporting are key tools for identifying and disrupting financial crime.
“The assessment also reinforces that there is no one-size-fits-all approach to AML/CFT compliance. Different firms, customers and services present different levels of risk, and controls should be appropriate and proportionate to those risks.
“Firms should focus their resources where the risks are greatest, while taking a proportionate approach to lower-risk customers and activities.
“Understanding risk is the foundation of an effective AML/CFT programme. This assessment gives accounting practices practical insights to help them identify and manage the risks most relevant to their business,” Caroline Bridgland-Hill says.
The Accounting Sector Risk Assessment 2026 is part of the Department of Internal Affairs’ broader programme of sector-specific information and guidance to support reporting entities to understand and manage financial crime risks.
You can read the Accounting Sector Risk Assessment 2026 in full on the Department of Internal Affairs website: Sector Risk Assessments
