AML/CFT wire transfers fact sheet and wire transfer guidance for new regulations

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the Act) contains a set of obligations for reporting entities to enhance the transparency of wire transfers. Wire transfers have been assessed in the National Risk Assessment1 as presenting a high risk of money laundering in New Zealand, which is consistent with experience overseas.

This guidance describes:

- What is a wire transfer?
- Who are the parties to a wire transfer?
- What are the responsibilities placed on reporting entities that are Ordering, Intermediary, or Beneficiary Institutions?

Download the AML/CFT wire transfers fact sheet, PDF

Wire transfer guidance for new regulations

In addition to the wire transfer guideline above, new guidance has been developed for the wire transfer regulations that are effective from 1 June 2024. The Financial Markets Authority has issued this guidance in conjunction with Reserve Bank of New Zealand and the Department of Internal Affairs.

Download the Wire transfer guidance for new regulations PDF