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New Zealand is tightening its anti-money laundering (AML) laws by capping international cash transfers at NZD 5,000 and banning crypto ATMs. The move aims to curb criminal misuse of the financial system while enhancing regulatory oversight.
- New Zealand will enforce a NZD 5,000 limit on international cash transfers to disrupt criminal fund movements.
- Crypto ATMs will be banned to prevent criminals from converting illicit cash into digital assets.
- The Financial Intelligence Unit (FIU) will gain enhanced powers to demand financial data from banks and AML-regulated businesses.
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