New Anti-Money Laundering Identity Verification Code of Practice Announced

Under the new Code, SuperGold Cards and Total Mobility Cards will be more readily accepted as secondary forms of identification.

New Zealanders may soon find it easier to prove their identity when opening accounts or accessing services, following the Government's announcement of an updated Anti-Money Laundering (AML) Identity Verification Code of Practice. The refreshed Code, which takes effect from 1 July 2026, is the first major update since 2013 and is designed to reduce unnecessary hurdles for both customers and businesses. Officials say the changes will make identity checks more practical while maintaining protections against financial crime. The Government believes the current system has become overly complicated, often requiring people to repeatedly provide the same information even in situations where the risk of money laundering is considered low.

Better Access for Elderly and Disabled New Zealanders

One of the most significant changes will make it easier for elderly and disabled people to verify their identity. Under the new Code, SuperGold Cards and Total Mobility Cards will be more readily accepted as secondary forms of identification. The update also expands the list of trusted referees by including officers of the Māori Land Court. This gives people living in different circumstances more options when they need someone to confirm their identity.

Officials say these adjustments reflect the reality that not everyone has easy access to traditional forms of identification, particularly older New Zealanders, people with disabilities and those living in remote areas.

More Flexible Approach Focused on Real Risks

The revised Code introduces standardised exceptions for common situations that previously required businesses to carry out individual risk assessments. This includes people living in rest homes and New Zealanders residing overseas. Businesses will also have greater flexibility when using reliable overseas government sources to verify a person's identity. The aim is to make compliance easier without weakening safeguards against criminal activity.

While businesses are not required to follow the Code, those that do will receive a form of legal certainty known as a "safe harbour," meaning they can be confident they are meeting regulatory expectations if they apply the guidance correctly.

The Government says the broader goal is to create an anti-money laundering system that focuses on genuine risks rather than creating unnecessary paperwork and delays for everyday customers. More reforms are expected, with an Omnibus Bill planned to deliver additional regulatory relief for businesses. The updated Code was developed after consultation with industry representatives and stakeholders, reflecting growing calls for a system that balances security with practicality.