Staying on top of AML obligations can feel like a juggling act. Between keeping your Risk Assessment and Compliance Programme (RA/CP) up to date, which outlines your risks and how you manage them, managing Customer Due Diligence (CDD) processes, and the the day-to-day running of your business, ongoing training can easily slip into the “tick-the-box” category. But it shouldn’t.

Training is good practice and it’s also a legal requirement. Under New Zealand’s Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009, every reporting entity must have adequate and effective procedures for staff training as part of their AML/CFT Programme.

A well-trained team makes fewer mistakes and protects your business from unnecessary risk. Training is one of the smartest investments you can make to keep your compliance programme effective, your business compliant, and your people confident in what they do.

 

Training as a legal requirement

Under New Zealand’s AML/CFT Act 2009, training is a core part of every reporting entity’s compliance duty.

Section 57(1)(b) of the Act requires your AML/CFT Programme to include “adequate and effective procedures, policies, and controls for training on AML/CFT matters” for key staff, including:

• Senior Managers
• AML/CFT Compliance Officers
• Any other employee who performs AML/CFT-related duties

Section 57(1)(I) goes a step further, requiring your Programme to cover how training will be delivered, monitored, and communicated internally. This means your training must also cover your own internal AML/CFT procedures, ensuring staff know how these apply in their specific roles.

Regulatory guidance from Supervisors interprets these sections to mean training should include:

• Key AML/CFT laws and any legislative updates
• Your organisation’s specific ML/TF risks
• Internal policies, procedures, and controls
• How to detect and report Suspicious Activity
• CDD procedures

Supervisors also recommend that training be provided on induction, and at least annually thereafter, or more frequently if required by regulatory changes, with attendance and content documented in a training register. Records should include who attended, what was covered, the trainer, and the session duration – all of which can be used as audit evidence.

Having structured, well-recorded AML/CFT training helps to demonstrate that your Programme meets the Act’s requirements, and that your business takes its obligations seriously.

 

Why training matters

While training is required by law, its impact goes far beyond compliance. Whether your team is new to AML/CFT or has years of experience, consistent and relevant AML training keeps everyone aligned. When people understand why AML/CFT matters and how their decisions contribute to compliance, they’re far more likely to get it right.

Effective training turns complex regulations into practical understanding. It helps experienced professionals stay sharp as legislation and typologies evolve, while providing newer staff with the knowledge required to apply AML/CFT requirements in real-world scenarios.

Training is also more than just understanding legislation. It’s about developing sound judgment, consistency and a shared understanding of what effective compliance looks like across your business.

 

The wider impact of AML training

Training is part of a larger ecosystem that connects people, processes and purpose under the AML umbrella.

Training is about keeping your business and the wider financial system safe. Every transaction and risk decision contributes to a bigger picture. When your team understands that connection, compliance becomes more meaningful.

Well-trained staff play a direct role in preventing money laundering and criminal activity. Their vigilance helps stop illicit funds from moving through legitimate channels, protecting not only your organisation, but also your clients and community from potential harm.

Strong AML practices also build trust. Regulators, partners and clients all take confidence in businesses that demonstrate a genuine commitment to doing the right thing. Training helps ensure that commitment runs through every level of your organisation.

Ultimately, AML training is to maintain integrity, reduce risk and contribute to a safer, more transparent financial environment for everyone.

 

Strengthen your team’s capability

When your team understands their AML responsibilities and feels confident applying them, compliance stops being a burden and becomes a strength. Well-trained staff make better decisions, identify risks earlier, and help your AML programme run more efficiently.

It’s also one of the most cost-effective ways to future proof your business. Regulations evolve, but a confident and knowledgeable team can adapt quickly. This reduces time, stress and costs of fixing compliance issues when it’s time for an audit.

 

“The content [from the AMLCO training course] was comprehensive and super beneficial for me taking over the role of CO for our accounting and advisory practice.”

Beverly Harley, Practice Manager, Finman Accounting & Business Advisory

Equip your team

At AML Solutions, we’ve delivered AML/CFT training to hundreds of reporting entities across New Zealand to strengthen their AML capability.

With us, you can choose from self-paced online courses or live, interactive sessions with our Senior Consultants, who bring years of hands-on AML/CFT experience.

For businesses needing a tailored approach, we also deliver bespoke in-house training aligned to your specific risks and AML/CFT Programme.

Equip your team with the knowledge they need to stay compliant. Browse our up-coming Eventbrite sessions, or talk to us about customised in-house training.

Contact our team.

 

Shane Cox, Senior Consultant, CAMS, MSc

Shane is a Certified Anti-Money Laundering Specialist (CAMS) with extensive experience in compliance, risk management and financial technology. He has worked across the payments and finance sectors in roles that have developed his expertise in the practical implementation of AML/CFT obligations.

Shane holds a Master of Science degree in Strategic Management and Innovation. He undertakes audits as well as the development and enhancement of compliance documentation, with a focus on pragmatic solutions that balance regulatory requirements with business needs.