Insights

Verifying a customer's identity is an essential part of Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) compliance. However, identity verification alone does not establish the level of risk associated with a customer. Different business activities, ownership structures, sources of funds and transaction patterns can present significantly different risks. Customer Risk Rating helps reporting entities assess these risks and apply appropriate Customer Due Di

New Zealand's Department of Internal Affairs (DIA) is taking a more proactive approach to AML/CFT supervision. On 15 October 2026, DIA published findings from its Real Estate Know Your Population project, revealing that 156 real estate businesses received formal information requests, with 64 subsequently identified as falling within DIA's AML/CFT supervised population. The investigation involved comparing Real Estate Authority (REA) registration records with DIA's existing su

In New Zealand, businesses regulated under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) are required to conduct Customer Due Diligence (CDD) in accordance with applicable legal requirements. For law firms, lending businesses and other reporting entities, CDD involves more than simply verifying a customer's identity. Depending on the circumstances, it may also include identifying beneficial owners, understanding the nature and purpose