Each year it is estimated there is $1.3 Billion of money laundered within New Zealand.
As of 1 January 2019, Sellers of real estate will be required to prove their identity and may be required to provide further information, particularly if the asset is held by a Trust or Company.
The video below from the CEO of the Real Estate Institute of New Zealand helps explain some of this new requirement.
For more information, download the flyer from the Real Estate Institute: REINZ – Proving Your Identity