The Department of Internal Affairs, the AML/CFT supervisor for lawyers, says it is working with its AML/CFT system partners and preparing to respond to sector concerns regarding their ability to meet some AML/CFT Act obligations as a result of the COVID-19 pandemic.

It says two areas of immediate concern relate to businesses’ ability to complete their independent audit and submit their annual report by 31 August 2020.

"We do not currently have definitive answers but we are working to define solutions that will assist reporting entities and ensure New Zealand businesses and communities are protected against the harm caused by money laundering and financing terrorism," the department states.