Changes to Anti-Money Laundering and Counter-Terrorism Financing Compliance Requirements
From 1 July 2026, new Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws will apply to a wider range of professional services in Australia, including some services provided by law firms. These changes are part of a broader national effort to protect the community, businesses and Australia’s financial system from money laundering, terrorism financing and other forms of financial crime.
Not all clients will be impacted by these changes. The most noticeable change will be that you are asked for more information at the beginning of a matter. This may include identification documents, details about who is involved in a transaction, company or trust information, and less commonly, information about the source of funds. Of course, we will only ask for information which is required to satisfy the new compliance obligations which apply from 1 July.
Banks and many financial institutions have been subject to AML/CTF obligations for many years. From 1 July 2026, the regime expands to cover certain legal, accounting, conveyancing, real estate and other professional services.
How your information is used
Information provided for AML/CTF purposes is used for compliance and verification. It is handled confidentially and stored securely in accordance with our professional, privacy and legal obligations. Your information is not requested for any purpose beyond what is necessary for us to meet our obligations and act for you appropriately.
Common questions from our clients
What happens if I do not provide the requested information?
As AML/CTF compliance is mandatory and it applies to all legal professionals, if the required information is not provided, you will not be able to have the work undertaken for you by us, or by any other firm.
Will this delay my matter?
Our compliance with the new AML/CTF requirements will not delay your matter.
We can begin initial work for you while the relevant processes are being completed.
Who can I speak to if I have questions?
We are happy to explain what information is required and why. We aim to make the process as simple and stress-free as possible. If you have any questions, please call 9525 8688 for a confidential discussion, or click here to contact us.
