The Department of Internal Affairs has become New Zealand's single anti-money laundering and countering financing of terrorism regulator, taking supervision of all 6,100 reporting entities under the regime.
Associate Justice Minister Nicole McKee announced the transition, which saw approximately 1,200 businesses transfer to DIA supervision from 1 July 2026. The transferred businesses include registered banks, non-bank deposit takers, and firms operating in securities markets.
DIA coordinated the transition with the Financial Markets Authority and Reserve Bank after the single supervisor model was announced in 2024. The department had existing experience supervising casinos, money remitters, and other high-risk sectors through an intelligence-led approach.
Reporting entities will face a new levy from July 2027, with the charge reviewed every three years. The levy will support funding for the NZ Financial Intelligence Unit, DIA supervision, and Ministry of Justice administration alongside Crown funding. Industry representatives participated in designing the levy structure.
The changes come as more than $1.6 billion is laundered in New Zealand each year. Three AML reform Bills have passed into law, with a final one pending, and the AML/CFT National Strategy 2026–2030 began implementation on 1 July.