Updated AML/CTF Compliance Obligations Effective 1st July 2026

Overview

From 1st July 2026, there are new legal requirements that may mean we need to collect additional information from you, such as proof of identity, details about ownership, or evidence of where funds are coming from, particularly for property transactions.

Our Legal Obligations

New federal legislation taking effect on 1st July 2026, brings Australian law and conveyancing practices within the scope of the national Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) framework.

As a result, we are now obligated to carry out AML/CTF checks prior to delivering certain services.
In practical terms, this requires us to:

• • confirm the identity of each client we act for
  • establish who owns or controls any entities involved in a matter
  • understand the nature and purpose of each transaction or engagement
  • identify, assess and document any money laundering or terrorism financing risks
  • maintain thorough, accurate records of our compliance decisions

These checks are proportionate and risk-based. The amount of information we need will reflect the level of risk associated with each matter.

Why This Matters

Money laundering is a serious and ongoing problem in Australia, with criminals channelling billions of dollars in illicit funds through legitimate businesses every year. These proceeds are linked to:

• • drug trafficking
  • human exploitation and modern slavery
  • terrorism financing
  • major financial crime and fraud

Robust compliance measures help prevent criminal networks from exploiting professional services to legitimise or conceal illegal money. Each verification and risk assessment we conduct plays a part in safeguarding our clients, our profession, and the broader community.

Who Is Affected?

The extent of checking will vary depending on the nature of the matter. Clients are most likely to encounter additional requirements where an engagement involves:

• • property sale or purchase (conveyancing)
  • corporate or commercial transactions
  • matters involving client funds, trusts, SMSFs, or complex entity structures
  • use of our trust account to move funds (such as during settlement)

What We May Request

Depending on the circumstances of your matter, we may ask for:

• • identity documents
  • information about who owns or controls a company or structure (including beneficial owners)
  • details about the transaction itself, including the source and purpose of any funds
  • bank statements to verify the origin of funds or wealth

If anything changes during the course of a matter, we may need to collect updated information. We will only ever request what is genuinely relevant to the work we are undertaking.

How You Can Help

You can help us avoid unnecessary delays by:

• • building in a little extra time at the outset of new matters, especially those with tight deadlines
  • having your identity documents on hand and ready to provide
  • responding to any requests from us as promptly as possible

In some cases, we may reach out to clients before 1st July 2026, to complete checks in advance, so that we are ready to move quickly once the new regime is in force.

We take the privacy and security of your information seriously. Any documents or personal details you provide as part of our AML/CTF obligations are handled in accordance with Australian privacy laws, our professional confidentiality obligations, and the requirements of the AML/CTF regulatory framework.

Information collected for compliance purposes is used solely for identity verification, risk assessment, and onboarding. We do not use it for marketing, and we do not sell or share client data with third parties. All records are stored securely, accessible only to authorised staff, and protected through encrypted systems and controlled processes.

For more information on how we handle personal information across our practice, please see our Privacy Policy.