What’s Changing
Australia is introducing an expanded Anti‑Money Laundering and Counter-Terrorism Financing (AML/CTF) regime that applies to law firms and other professional service providers who provide designated services as of 1 July 2026. These changes are designed to strengthen the integrity of Australia’s financial system and align with global standards.
What This Means for You
As a result of the new AML requirements:
- Matter opening may take longer than it has previously for some matters
- Information and documentation not previously provided may be requested by us to carry out required identity and other checks. In some circumstances, we may need biometric verification of individuals to be carried out by you
- These requirements apply across the legal sector, not just our firm
Why We Need This Information
The new regime requires law firms to:
- Verify the identity, ownership and control of our clients in some circumstances, depending upon the nature of the services we provide you
- Depending on the nature of your matter and information we collect about you we may require further information and documentation
- Maintain robust records to meet regulatory obligations
These steps are mandatory and non‑negotiable under the legislation
Our Commitment to You
- We will guide you clearly through the process and explain exactly what is required
- We will only request information that is legally necessary
- Our focus remains on protecting your interests, confidentiality and experience while meeting our regulatory obligations
We appreciate your cooperation as the legal profession transitions to these new requirements. Should you have any questions please reach out to your Russell Kennedy contact.
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