Anti-money laundering and counter-terrorism financing (AML/CTF) Obligations July 2026

These obligations have applied to banks and other financial institutions for many years and as of 1 July 2026 will be extended to law firms, accountants, conveyancers and real estate agents.

What this means for you

For some matters, we may need to take additional steps before we can provide certain designated services. These include, for example, acting in relation to the buying or selling of real property, investment transactions, holding client funds on trust, or establishing legal entities or trusts.

Depending on the nature of the work, we may be required to:

• Obtain and verify information about our clients and, where relevant, the individuals who own, control or manage the client entity
• Collect information and documentation relating to a company, trust or other entity
• Obtain additional information about a matter or transaction

We are committed to preventing financial crime and complying with our legal and regulatory obligations. As a result, we may need to obtain additional information or documentation from you before we can commence or continue designated services, including information about the ownership or control of an entity or the source of funds involved in a transaction.

These changes are intended to help prevent money laundering, terrorism financing and other financial crime, and to strengthen the integrity of Australia’s financial system. We recognise the importance of these objectives and are committed to implementing the new requirements in a way that is practical and efficient for our clients.

Our approach

We understand that your time is valuable and are committed to making these processes as straightforward as possible.

We will:

• Keep requests practical and proportionate to the work involved
• Explain what information is required and why
• Minimise duplication wherever possible
• Use secure electronic verification processes to make the process quicker and more convenient
• Work with you to address any requirements efficiently

For information about how we collect, use and disclose personal information, please refer to our Privacy Policy here.

If you would like more information about these changes, please visit the AUSTRAC website or speak with your usual contact ar Moray & Agnew.

We appreciate your cooperation as these changes are implemented and thank you for your continued trust and support.