New AML/CFT regulations introduced in New Zealand and the EU

New anti-money laundering (AML) and countering financing of terrorism (CFT) regulations are being implemented in New Zealand and the European Union, targeting different sectors and transaction types.

In New Zealand, the Real Estate Institute of New Zealand (REINZ) has welcomed a new, tiered AML/CFT levy for the real estate sector. Approved to come into force on October 8, 2026, the levies will apply to the financial year starting July 1, 2027. The structure includes an exemption for reporting entities with less than $10 million in settled transactions. For those above this threshold, the levy is set at $398 for transactions between $10 million and $50 million, and $769 for transactions exceeding $50 million. REINZ CEO Lizzy Ryley stated the tiered approach reflects the diversity of the sector and avoids placing an unreasonable burden on smaller agencies.

In the European Union, Regulation (EU) 2024/1624 will enforce a uniform cash payment limit of €10,000 starting July 10, 2027. This measure aims to reduce anonymity in large transactions and harmonize AML laws across the bloc. While the €10,000 limit is a Union-wide maximum, individual countries may maintain lower thresholds. In Spain, for example, transactions of €1,000 or more cannot be paid in cash if one party is a business owner or professional. Non-residents in Spain may use a threshold of up to €10,000.