$68BPer year
AUSTRAC estimates more than $68 billion worth of crime-related money is laundered through Australia every year — funding drug trafficking, human exploitation, terrorism and large-scale fraud. These laws exist to stop it.
Background
What is the AML/CTF Act and why does it matter?
Australia's Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act is designed to stop illegal funds from entering the financial system.
From 1 July 2026, professional services firms — including law, accounting and real estate — are required to take active steps to keep crime out of our communities, professions and country.
From 1 July 2026
What firms like ours are now required to do
Verify client identity
Assess money laundering risk
Monitor & report suspicious behaviour
It's not about ticking boxes. It's about keeping crime out of our communities and country.
Why we ask
Why are you being asked for documents?
We may need to collect ID documents, company records, trust deeds, or information on the source of funds.
If you're representing a company, trust or other structure, we're also required to identify and verify the individuals who ultimately own or control it.
This isn't because we think anything's wrong — it's because we're required by law to apply consistent checks to everyone. Each check is a small act of protection.
Documents
What we may ask for
- A form of photo ID (e.g. passport or driver's licence)
- Proof of address (e.g. utility bill or bank statement)
- Company, trust or SMSF documentation (if relevant)
- Details about ownership or control of complex entities
- Source of funds information (for higher-risk transactions)
Process
What you can expect from us
-
1
Clear explanation
We'll tell you exactly what's needed and why, at every step.
-
2
Secure handling
Your information is stored securely and used only for regulatory compliance.
-
3
Streamlined process
We use technology to make the verification process as quick and easy as possible.
-
4
Guided step by step
We'll walk you through what's required. If anything is unclear, just ask.
-
5
Kept informed
We'll let you know if anything is outstanding or if we need further information.
-
6
Confidential
Your data is used only for regulatory purposes and never shared for marketing.
Only what's required
We collect only the information we are legally obligated to gather — nothing more.
Stored securely
Your data is held in encrypted systems, accessible only by authorised staff.
Regulatory use only
We do not share your information for marketing and we never sell or trade client data.