Regulatory Alerts2025-09-15
Memorandum of Understanding on AML/CFT Supervisory Information Sharing Between DIA and RBNZ
The Department of Internal Affairs and the Reserve Bank of New Zealand have signed a Memorandum of Understanding to facilitate the secure transfer of Anti-Money Laundering and Countering Financing of Terrorism supervisory information as the DIA assumes the role of single supervisor. The agreement establishes principles and procedures for sharing critical data, including risk assessments, compliance records, and enforcement actions, to ensure regulatory continuity and minimize disruption during the transition. It mandates that all information sharing complies with New Zealand law, requires robust confidentiality and security measures, and outlines specific protocols for data validation, dispute resolution, and the eventual termination of the arrangement upon completion of the handover.