Regulatory Uplift in Financial Crime: Where New Zealand and Australia Stand in the AML Evolution

Intro

Financial crime is firmly under the microscope. Across New Zealand and Australia, regulatory bodies are doubling down on anti-money laundering (AML) compliance, driving significant changes in how financial institutions operate, supervise, and respond. If you’re a financial crime professional in banking, insurance, or broader financial services, understanding where each country is at, and where it’s heading, is crucial for staying ahead and positioning yourself in a fast-evolving talent market.

Where New Zealand Stands: The AML Journey So Far

New Zealand’s AML regime, governed by the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, has steadily evolved. The Ministry of Justice, alongside supervisors such as the Reserve Bank of New Zealand (RBNZ), the Financial Markets Authority (FMA), and the Department of Internal Affairs (DIA), have all stepped up their expectations around compliance monitoring, risk assessments, and enforcement.

Recent regulatory reviews have exposed gaps in the current framework. As a result, the government has launched consultations to expand AML obligations to new sectors, including high-value dealers and certain non-financial businesses. There’s also strong momentum towards digital transformation, increased information sharing, and real-time monitoring.

What’s Next in NZ:

• Further amendments to the AML/CFT Act are expected in the coming year
• DIA is signalling more proactive supervision and higher expectations around independent audits and risk-based frameworks
• FMA is pushing for a deeper focus on conduct and governance in AML compliance across reporting entities

Australia’s Position: A Step Ahead, But Still in Transition

Australia’s regulatory uplift is spearheaded by AUSTRAC, which has taken a hard line on enforcement and public accountability. Over the past few years, high-profile investigations and multi-million-dollar fines have reset the tone from the top.

Australia is currently moving through “Tranche 2” reforms, which aim to extend AML obligations to professions like lawyers, accountants, and real estate agents. These changes, long recommended by the FATF (Financial Action Task Force), signal the government’s serious intent to align with international best practice and close known loopholes.

Future Focus in AU:

• Finalising and implementing Tranche 2 reforms
• Investing in AUSTRAC’s tech and analytics capability to detect suspicious transactions earlier
• Partnering with industry for intelligence-led risk management and typology development

Beyond Banking: The Ripple Effect on Other AML-Regulated Sectors

While banks and financial services are front and centre, these AML changes also have wide-reaching implications for other regulated sectors. In both New Zealand and Australia, law firms, real estate agencies, accounting practices, and high-value dealers are increasingly in scope. With the push toward a more robust and inclusive AML framework, these industries are being asked to develop and implement sophisticated compliance programmes, monitor transactions more closely, and report suspicious activities with the same level of scrutiny as traditional financial institutions.

For professionals in these sectors, the regulatory uplift is a signal to upskill, adopt new technologies, and strengthen governance structures. For businesses, it’s an opportunity to review internal controls and ensure AML programmes are both future-fit and regulator-ready.

Emerging Trends in Talent Across NZ and AU

As both countries intensify their regulatory frameworks, the demand for skilled AML professionals is accelerating. Financial institutions are increasingly looking to:

• Hire AML/CFT experts with experience across multiple jurisdictions
• Expand financial crime teams to include data analysts, regulatory change specialists, and internal auditors
• Develop internal capability by investing in training programmes that upskill compliance teams
• Implement cross-functional structures that bring together legal, risk, technology, and operational teams under a unified financial crime strategy

There’s a noticeable appetite for individuals who can drive innovation, support ongoing transformation, and manage complex compliance programmes while staying agile and strategic.

🔍 Snapshot: Senior Advisory Manager – Financial Crime Compliance (NZ)

A great example of this shift in talent demand is a current opportunity we’re recruiting for at Tyler Wren:

We’re partnering with a major New Zealand financial institution to find a Senior Advisory Manager to lead transformation projects in financial crime compliance. This role is ideal for professionals who thrive in change environments and want to influence enterprise-wide regulatory uplift.

Key Highlights:

• Drive complex change initiatives across AML, Sanctions, Fraud, and Anti-Bribery
• Collaborate with senior leaders across risk, legal, and operations
• Implement smarter, data-led control frameworks
• Produce strategic insights to meet evolving compliance expectations
• Support internal governance and shape future-focused solutions

This role is suited to someone with a proven track record in managing AML/CFT, remediation, or regulatory uplift programmes in banking, insurance, or financial services. It’s a unique chance to help shape the future of compliance and to be part of a high-impact team influencing decisions at scale.

📞 Interested? Reach out to Gary Bloxham on +64 (0) 9 974 9072 for a confidential chat, or view the full job ad.

Final Thoughts

If you work in financial crime across New Zealand or Australia, now is a pivotal time to reflect on your current skill set. The regulatory uplift is no longer just coming, it’s here. Those who can contribute meaningfully to shaping resilient, forward-thinking AML strategies will continue to be in demand.

At the same time, financial services employers must plan wisely. They need to initiate smarter hiring, maintain robust pipelines of financial crime talent, and collaborate with regulators and industry groups to stay ahead of risk. Whether you’re looking to expand your team or your career, aligning yourself with the regulatory shift will open new doors in 2025 and beyond.

If you’re ready to work with a recruiter who listens and tailors the process to your needs, the Tyler Wren team is here to help.

Find out more about Tyler Wren’s:

• Public Practice Recruitment Here (NZ)
• Public Practice Recruitment Here (AU)
• Legal Recruitment here (NZ)
• Legal Recruitment here (AU)
• Risk and Compliance Recruitment here (NZ)
• General Insurance Recruitment here (NZ)
• Wealth Management Recruitment here (NZ)

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