AUSTRAC Requirements from 1 July 2026

From 1 July 2026, new Australian AML/CTF laws will apply to “gatekeeper professions”, including accountants. This means we are legally required to carry out certain identity and engagement checks before providing some services.

What This Means for You

1. It’s Not Our Choice — It’s the Law
These changes are a legal requirement under AUSTRAC regulations. Like banks and other financial institutions, we must comply with anti-money laundering laws.

2. Why Now?
Australia is aligning with global standards to prevent the misuse of professional services in financial crime. These changes bring us in line with other developed countries.

3. What You May Need to Do
For certain services (such as business structuring or transactions), we may need to:

• Verify your identity

• Understand the purpose of the engagement

• Complete risk assessments before work begins

4. Applies to All Clients
These checks are not based on suspicion. They are standard requirements applied consistently to all clients.

5. Your Information is Secure
We are required to retain certain records securely in accordance with strict professional and legal obligations.

How We’ll Support You
We understand these changes may feel unfamiliar. Our role is to guide you through the process and ensure everything is handled smoothly and efficiently.

If you have any questions, please get in touch — we’re here to help.