---
title: $10,000+ cash transactions prohibited
description: Cash transactions equal to or greater than $10,000 are prohibited for certain high-value goods, as part of the AML/CFT Act. Learn more about this update.
image: https://www.amlhub.co.nz/hubfs/Piggy%20bank%20broken%20with%20money%20inside%20on%20white%20background.jpeg
---

[ Back to blog ](https://www.amlhub.co.nz/blog)

**High-value dealers prohibited from buying or selling goods with cash transactions of $10,000 or more.**

From 11th May 2023, any person in trade/business that buys or sells high-value goods will be prohibited from doing so using cash transactions of $10,000 or more. The following are considered high-value goods:

- Jewellery
- Watches
- Gold, silver, or other precious metals
- Diamonds, sapphires, or other precious stones
- Motor vehicles
- Boats/ships

This prohibition has been introduced under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act). The intention is to make it harder for criminals to use or move cash anonymously through the purchase or sale of these high-value items.

For more information on the above, [please contact AML Solutions](https://amlsolutions.co.nz/contact-us/) or see the DIA website update below.

[ Learn more ](https://www.dia.govt.nz/AML-CFT-High-value-dealers-Prohibited-cash-transactions-for-specified-high-value-goods?opendocument)

## Related Articles

![Highlights from the AML Summit 2022](https://www.amlhub.co.nz/hubfs/royden-mcgee-strategi.png)

[Supervisor Update](https://www.amlhub.co.nz/blog/tag/supervisor-update) [AML](https://www.amlhub.co.nz/blog/tag/aml) [AML/CFT](https://www.amlhub.co.nz/blog/tag/aml-cft) [AML Summit](https://www.amlhub.co.nz/blog/tag/aml-summit)

Every year the AML Summit brings together New Zealand's AML/CFT professionals, experts, and industry leaders. We were there in the thick of it, and have pulled together...

![4 top tips for managing your AML](https://www.amlhub.co.nz/hubfs/5-top-tips-featured-image.png)

[AML](https://www.amlhub.co.nz/blog/tag/aml) [AML/CFT](https://www.amlhub.co.nz/blog/tag/aml-cft)

## You have to do AML — but it doesn't have to take your whole day. Read our 4 top tips for managing your AML/CFT programme better.

## 1. Get the business working as a team

...