Anti-Money Laundering and Counter Terrorism Financing

From 1 July 2026, new Tranche 2 Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws will come into effect in Australia. These new laws will be affecting law firms and accounting firms, along with a number of similarly aligned professionals and service providers.

As a law firm providing certain ‘designated’ services in the course of offering estate planning, succession, trust, estate administration and inheritances advice and services, we may be required to complete additional identity verification checks and request further documentation from some clients when providing certain 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 now be required to follow, if they are offering ‘designated’ services.

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