New Zealand has passed a law called the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 ("the AML/CFT law" for short). The purpose of the law reflects New Zealand's commitment to the international initiative to counter the impact that criminal activity has on people and economies within the global community.
Recent changes to the AML/CFT Act mean that from 1 October 2018 Accountants must comply with its requirements. Accountants must do several things to help combat money laundering and terrorist financing, and to help Police bring the criminals who do it justice. The AML/CFT law does this because the services Accounting Firms and other professionals offer may be attractive to those involved in criminal activity.