AML/CTF Compliance

Starting from 1 July 2026, you may be required to provide some additional identity, ownership or source of funds documentation when you work with us, particularly in connection with business advisory, accounting or bookkeeping engagements.

Our Obligations

From 1 July 2026, new federal laws will require Australian accounting, bookkeeping and business advisory firms to comply with Australia’s Anti‑Money Laundering and Counter‑Terrorism Financing (AML/CTF) regime.

Under these laws, we are required to complete AML/CTF checks before we can provide certain services

In practice, this means we must:

• verify the identity of our clients
• understand who owns or controls the entities we act for
• understand the purpose of each engagement or transaction
• assess and document ML/TF risks
• keep clear and accurate records of our decisions

We are legally required to complete these checks before we can provide certain services. The checks we complete are risk‑based. The level of information we request will be proportionate to the associated ML/TF risk.

 

Why it matters

Money laundering is a significant issue in Australia. Criminals use legitimate businesses to move or disguise billions of dollars in illegal funds each year. These funds fuel:

• drug trafficking
• human exploitation
• terrorism
• large-scale financial fraud

Stronger controls help stop criminal networks from using legitimate professional services to move or hide illicit money. Every identity check and risk assessment contributes to protecting our clients, our industry and our community.

 

Who will it affect?

Not every engagement involves the same level of checking. Clients are more likely to notice additional requirements where an engagement relates to:

• tax return preparation and lodgement
• business structuring or restructuring advice
• bookkeeping and financial reporting services
• engagements involving client funds, trusts, SMSFs or layered entity structurestransactions or
• matters where significant funds movements are involved

 

What we might ask

Depending on the engagement type and situation, we may request:

• identification documents
• details of who owns or controls an entity (for example, beneficial owners or controlling parties)
• information about the nature of your business activities, including the source of funds involved
• in relevant transactions
• bank statements or financial records to verify source of funds and source of wealth

In some cases, we may need updated information if circumstances change during an engagement.

We will only ask for information that is relevant to the work we are doing.

 

How you can help

You can help minimise delays by:

• allowing a little extra time at the commencement of new engagements, particularly where work is time‑sensitive
• having identification documents ready
• responding promptly if we request information

In some cases, we may contact clients ahead of 1 July 2026 to complete checks early and reduce delays once the regime commences.

 

Privacy & Data Handling

We take privacy and data security seriously. Any information you provide is handled in accordance with:

• Australian privacy laws
• our professional confidentiality obligations
• strict AML/CTF regulatory requirements

Your data is used only for identity verification, compliance checks and onboarding purposes. We do not share information for marketing, and we do not sell or trade client data. All documents and personal details are stored securely, accessed only by authorised staff, and protected through encrypted systems and controlled processes.