This Government bill amends the anti-money-laundering and countering-financing-of-terrorism (AML/CFT) regime to reduce compliance costs, improve effectiveness, keep pace with international obligations, and provide funding through a levy. It was enacted as the AML/CFT (Supervisor, Levy, and Other Matters) Amendment Act 2026.
This Government bill overhauls New Zealand's anti-money-laundering and countering-financing-of-terrorism (AML/CFT) system — the rules requiring banks, lawyers, accountants, real estate agents and others to check customers and report suspicious transactions. Its central change replaces the three current supervisors (the Department of Internal Affairs, Financial Markets Authority and Reserve Bank) with a single supervisor, the Department of Internal Affairs, to give businesses one consistent point of contact and faster guidance. It also introduces an industry levy so the regime's running costs are funded by the sector it oversees, and makes assorted other adjustments to how the system operates.
The changes affect thousands of "reporting entities" across finance and professional services. Supporters argue a single supervisor removes inconsistency and delay and that a levy provides stable, predictable funding. Opponents point to the new levy as an added cost on business, and some question concentrating oversight in one agency and whether it has the capacity to handle the expanded role smoothly during the transition.
See the Parliament.nz ↗ site for the full bill.