Anti-Money Laundering and Counter Terrorism Financing

From 1 July 2026, new Tranche 2 Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws and obligations will come into effect in Australia, pursuant to The Anti-Money Laundering and Counter Terrorism Funding Act 2006 (Act). These new laws will affect law firms, accounting firms and other similarly aligned professionals and service providers.

As a law firm providing certain ‘designated’ services, under the Act, in the course of offering estate planning, succession, trust, estate administration and inheritance advice and services, we may be required to complete additional identity verification checks and request further information or documents from some clients when providing these services.

These requirements are designed to strengthen protections against fraud, money laundering, and financial crime.

Based on these new requirements, our client intake procedures will be updated. We understand additional ID checks or requests for additional information can sometimes feel inconvenient, however these changes are now required as part of new national compliance obligations that many businesses and professionals will be required to follow, if they are offering ‘designated’ services to their clients.

We appreciate your understanding and cooperation as we implement these updated procedures.