On 7 November, MinsterElleisonRuddWatts published an article about an announcement to strengthen the AML/CFT regime in New Zealand and the long-awaited release of a report into the 2009 AML/CFT Act. The proposed reforms address part of the findings of the statutory review (required by the Act), concluded on 30 June this year with the report being provided to the Minister of Justice. The report makes a large number of recommendations, as well as saying that states that the AML/CFT regime has not been applied with a sufficiently risk-based approach, with some requirements framed in an overly-prescriptive way and others lacking sufficient guidance for businesses. The Ministerial announcement indicates some of the changes will be made quickly, with regulations being promulgated in the coming months. The detail of those changes is not yet known, but further announcements are expected soon.