New Zealanders are set to face fewer hurdles when proving their identity under changes to the country’s anti-money laundering (AML) rules announced by Internal Affairs Minister Brooke van Velden and Associate Justice Minister Nicole McKee.
The updated Identity Verification Code of Practice, the first major revision since 2013, will largely take effect from 1 July 2026 and is aimed at making identity checks simpler and more practical for both businesses and customers.
McKee said the current AML regime had become overly burdensome, creating unnecessary delays, duplication and frustration for New Zealanders and the organisations required to verify their identities.
She said the revised code provides clearer guidance, greater consistency and a more risk-based approach, allowing businesses to focus compliance efforts on higher-risk situations rather than low-risk customers.
Van Velden said the changes would make it easier for businesses to confirm a person’s identity while maintaining appropriate safeguards. Among the changes is expanded recognition of SuperGold Cards and Total Mobility Cards as secondary forms of identification, a move expected to benefit elderly and disabled New Zealanders.
The revised code also adds officers of the Māori Land Court to the list of approved trusted referees, introduces standardised exception processes for common circumstances such as customers living overseas or in rest homes, and provides greater flexibility in using reliable overseas government sources for identity verification.
Although compliance with the code is voluntary, businesses that follow it correctly receive a regulatory “safe harbour”, giving them confidence that their identity verification processes meet AML requirements.
The Government says the changes are part of a broader programme of AML reform aimed at reducing compliance costs and streamlining transactions while maintaining protections against financial crime. A final ‘omnibus bill’ containing further AML reforms is expected to be introduced to Parliament during the current term.
They need to do this to make it easy for the jeets to bring their dirty money to NZ, they are only being invited in because they know the money will follow.
Wow, a “regulatory safe harbour” for those who follow the corporate church government’s “rules and regulations” eh van Velden.
The old carrot/stick fear trick. Voluntary, but! A regulatory “safe harbour” is a legal provision that protects businesses from liability or penalties, provided they act in good faith and follow specific regulatory guidelines. It offers guaranteed protection from prosecution as long as you meet the prescribed standards, encouraging compliance without fear of uncertainty.
AML requirements have been the least effective way to preventing money laundering ever!
Meanwhile they’ve been incredibly effective at preventing business jobs growth and economic activities by regular law abiding folks.
The more aml they strip away the better
DOES THIS MEAN THAT THE NEW ZEALAND LOYAL PARTY WILL FINALLY BE ABLE TO OPEN A BANK ACCOUNT?
https://nzloyal.com/?s=de-banked
https://nzloyal.com/the-banking-cartel-exposing-the-hypocrisy-and-predatory-nature-of-new-zealands-financial-institutions/
https://nzloyal.com/im-being-debanked-and-so-are-you/