New Zealand’s Department of Internal Affairs (DIA) reported that a Hamilton law firm, Foster & Milroy, has been fined NZD 60,000 for criminal breaches of the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act) following a DIA investigation. Foster & Milroy pleaded guilty to failing to complete a compliant risk assessment, failing to establish, implement or maintain an AML/CFT programme, failing to maintain proper records, and wilfully obstructing an AML/CFT supervisor. The Court took into account the firm’s size and financial capacity, and the DIA said the non-compliance and obstruction occurred repeatedly between March 2022 and March 2025, including by refusing to respond to notices and only partially responding to others.
New Zealand Department of Internal Affairs enforcement results in NZD 60,000 fine for Hamilton law firm over AML/CFT failures and obstruction
New Zealand’s Department of Internal Affairs has fined Hamilton law firm Foster & Milroy NZD 60,000 for criminal breaches of the Anti-Money Laundering and Countering Financing of Terrorism Act following a departmental investigation. The firm pleaded guilty to failures in risk assessment, AML/CFT programme implementation, record-keeping, and wilfully obstructing an AML/CFT supervisor, with repeated non-compliance and obstruction between March 2022 and March 2025.