AML/CTF Changes: What They Mean for You as Our Client
Australia’s Anti-Money Laundering and Counter-Terrorism Financing laws are changing, and from 1 July 2026, accounting firms are required to complete additional checks when providing certain services.
These changes are designed to help prevent money laundering, terrorism financing and the misuse of business structures, trusts, companies and financial transactions.
How this affects you as our client
As part of our compliance obligations, we may need to collect and verify more information before we can begin certain work. This includes confirming your identity, understanding who owns or controls a company or trust, and asking about the purpose of certain transactions or structures. For most clients, this will be a simple process.
100 points of ID verification
To meet our compliance requirements, we will be requiring clients to complete 100 points of identity verification.
This may involve providing documents such as:
driver licence;
passport;
Medicare card;
proof of address; or
other accepted identification documents.
For companies, trusts or partnerships, we may also request details of directors, shareholders, trustees, beneficiaries and beneficial owners.
Why we need this information
These checks are not personal. They are part of our legal and professional obligations as an accounting firm. In some cases, we may not be able to start work until the required identification and verification documents have been provided.
Our commitment
We will make this process as straightforward as possible and will let you know exactly what information is required. Any documents provided will be handled securely and used only for appropriate compliance and professional purposes.
If you have any questions about the new AML/CTF requirements or what documents you need to provide, reach out to our team!
