The Department of Internal Affairs will release a sector risk assessment and guidance material to lawyers concerned about compliance with the AML/CFT Act, by the end of December.

The DIA are supervisors for Phase 2 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.

Lawyers and conveyancers will be affected by this from 1 July 2018.

The DIA will publish their sector risk assessment and guidance documents on their website by the end of next month.

"They've been produced by DIA to help lawyers and conveyancers increase their awareness of money laundering and terrorist financing risks, and to offer direction on how to manage compliance," the department says.

The DIA says the guidance is not a step by step guide.

"It's intended to help lawyers develop their own policies and processes as they build their compliance programme. It will provide clarity around which activities are captured by the Act and it will give examples of these activities including why they have been included within the AML/CFT regime. This material will help lawyers and conveyancers prepare for 1 July and clarify obligations going forward," the department says.

The Act requires lawyers and conveyancers to take account of the sector risk assessment and guidance produced by DIA when developing a compliance programme.

"So visit the 'People, Communities ad Business section at www.dia.govt.nz to locate thse resources," the department says.