Anti-Money Laundering & CFT Compliance

What is AML/CFT?

Money laundering is a common tool used by criminals around the world in an effort to disguise the origin of their funds. To combat this, New Zealand introduced the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act in 2009.

Real estate agents in New Zealand are now required to comply with this legislation, which means we have specific obligations when conducting property transactions.

What This Means for You

As part of our compliance obligations, we are required to verify the identity of our clients and, in some cases, establish the source of funds and source of wealth involved in a transaction.

When buying or selling commercial property through our firm, you should expect:

• Identity verification — we will need to sight and copy identification documents
• Address verification — proof of your current residential address may be required
• Source of funds — documentation showing where the transaction funds are coming from
• Source of wealth — in some cases, we may need to understand how your wealth was accumulated

Why This Matters

These requirements exist to protect the integrity of New Zealand's property market and financial system. While we understand that providing this information may seem intrusive, it is a legal requirement that applies to all real estate transactions in New Zealand.

We recommend having your financial documentation organised before beginning any property investment transaction. This helps ensure a smooth and efficient process for all parties.

Your Privacy

All personal information collected under the AML/CFT Act will be handled in accordance with the Privacy Act 2020. Information gathered for AML/CFT purposes is stored securely and is only used for the purposes permitted under the legislation.

Questions?

If you have any questions about our AML/CFT obligations or what documentation you may need to provide, please don't hesitate to contact us.