As Australia implements updated Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) reforms, our organisation is committed to meeting all applicable regulatory requirements and maintaining the highest standards of compliance.

These reforms are designed to strengthen Australia’s financial system and help prevent money laundering, terrorism financing and other financial crimes. We welcome the opportunity to further enhance transparency, security and trust for our clients and stakeholders.

Important Information

The new AML/CTF obligations come into effect from 1 July 2026.

From this date, we will be required to obtain certain information and complete verification checks before opening a new matter or providing certain services. To avoid delays, we ask that clients provide any requested information and documentation as soon as possible.

Please note that we may be unable to open a matter or proceed with a transaction until we have received the information required to satisfy our legal obligations.

Why These Changes Matter

The AML/CTF reforms are designed to protect businesses, individuals and the broader community from financial crime, while ensuring Australia continues to meet international best-practice standards.

By implementing these reforms, we help safeguard:

• Your personal and financial information
• Your organisation’s compliance and risk exposure
• The integrity of Australia’s financial and business environment
• Our services from misuse for unlawful activities

What We’re Doing

To meet our obligations under the AML/CTF framework, we have implemented a range of measures, including:

• Strengthened customer due diligence and identity verification processes
• Enhanced risk assessment and monitoring procedures
• Ongoing staff training and awareness programs
• Dedicated compliance oversight and governance measures

What This Means for You

As part of our AML/CTF obligations, we may need to collect additional information from clients and undertake identity verification checks before providing certain services.

The information we request will depend on the nature of the services being provided and the level of risk associated with the matter or transaction. We will always seek to make this process as straightforward as possible and will explain any information we require.

Here to Support You

If you have any questions about the AML/CTF reforms or how they may affect your dealings with us, our team is here to help. We are committed to making these requirements as clear and seamless as possible while continuing to provide exceptional service.

Frequently Asked Questions

 What are the new AML/CTF laws?

Australia has updated its Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) framework to help prevent money laundering, terrorism financing and other financial crimes. The reforms introduce enhanced obligations for businesses to better understand their customers and manage financial crime risks.

Why have these laws changed?

The reforms are designed to strengthen Australia’s financial system, align with international standards and make it more difficult for criminals to use legitimate businesses to move, conceal or benefit from illicit funds.

Who do the new laws affect?

The reforms affect both businesses and customers. Depending on the services being provided, clients may be asked to provide additional identification documents or information relating to the purpose and nature of a transaction or matter.

What will I need to o as a client?

As part of our legal obligations under Australia’s AML/CTF laws, we may need to verify your identity and obtain information about the purpose of your matter or transaction. In some circumstances, we may also ask questions about the source of funds being used.

Most clients will simply need to provide identification documents and answer a small number of compliance-related questions. We will guide you through the process and explain any information we require.

Why are you asking for more identification than before?

The updated AML/CTF framework requires businesses to take a more risk-based approach to understanding and verifying their customers. These requirements help ensure that services are not used for money laundering, terrorism financing or other criminal activities.

What additional information might I be required to provide?

The information we request will depend on the nature of the services being provided and the level of risk associated with the matter or transaction.

You may be asked to provide:

• Proof of identity (such as a passport or driver’s licence)
• Proof of residential address
• Information about the purpose and nature of the transaction or matter
• Information regarding the source of funds being used
• Company, trust or other entity documentation
• Details of beneficial owners or authorised representatives where applicable

Not all clients will be required to provide the same information. We will only request information that is reasonably necessary to meet our legal obligations.

Why are you asking where my money came from?

In some circumstances, we may be required to understand the source of funds involved in a transaction. This helps us comply with our legal obligations and identify potential financial crime risks.

What happens to the information I provide?

Your information is collected, stored and protected in accordance with applicable privacy laws and AML/CTF obligations. It is used only for legitimate compliance, verification and service-related purposes.

Will my information be shared with government agencies?

Businesses may be legally required to report certain information or suspicious matters to regulatory authorities, including AUSTRAC, where required by law.

Will these checks delay my transaction?

To comply with AML/CTF laws, we may be unable to open a matter or proceed with a transaction until required information has been provided. Promptly supplying any requested documents will help minimise delays.

Will I need to provide this information every time I engage your services?

Not necessarily. In some circumstances, information already held by us may remain valid. However, we may be required to refresh or update information periodically, particularly where circumstances have changed or where required by law.

What happens if I choose not to provide the requested information?

In some cases, we may be unable to proceed with a transaction or provide services if we cannot meet our legal obligations under the AML/CTF legislation.

Are these checks a sign that something is wrong?

No. AML/CTF checks are now a standard part of doing business across many industries and are applied as part of routine compliance processes. Being asked to provide information or identification does not mean there is any concern regarding you or your transaction.

Will there be any additional costs?

Additional AML/CTF verification checks may be required, and any associated third-party search costs will be passed on to clients. We have taken steps to minimise these costs, which in most cases are expected to be comparable to the Verification of Identity (VOI) checks previously required. See our Letter of Engagement for further details.