You may have recently heard about changes to Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws.

From 1 July 2026, the AML/CTF regime expanded to cover certain services provided by a range of professions, including lawyers, accountants, conveyancers and real estate professionals.

For law firms, this means new obligations when providing certain types of legal services. For our clients, it may mean you notice a few additional steps when working with us.

What is AML/CTF?

Australia’s AML/CTF regime is designed to help prevent legitimate businesses and professional services from being used to facilitate money laundering, terrorism financing and other serious financial crime.

The expanded regime brings certain legal services under the AML/CTF framework and introduces obligations around client identification, due diligence, risk assessment, record keeping and reporting.

While much of this happens behind the scenes at Rankin Business Lawyers, there are some changes you may notice as a client.

What does this mean for you?

Depending on the type of legal work we are undertaking for you, we may need to ask for additional information or documentation.

This could include:

  • identification documents to verify your identity;
  • information about your business or company structure;
  • details of directors, shareholders, beneficial owners or other relevant parties;
  • information about the nature and purpose of a transaction; or
  • further documentation where required to meet our AML/CTF obligations.

You may also be asked to provide identification or updated information even if you have worked with us before.

For most clients, this will simply mean some additional administrative steps when starting a matter or undertaking a particular transaction.

Why are we asking for this information?

We appreciate that being asked for additional information – particularly when you are a long-standing client – can sometimes seem unnecessary.

However, where the AML/CTF requirements apply, these checks are now part of the regulatory obligations that law firms must meet.

They are not a reflection of any concern about you or your business.

The purpose is to help ensure that legal and other professional services are not misused for financial crime and that firms understand who they are acting for and, where required, the people and entities behind a transaction.

What do you need to do?

There is nothing you need to prepare in advance.

If the AML/CTF requirements apply to the work we are doing for you, our team will let you know what information or documentation we require and guide you through the process.

If we do request identification or further information about your business, ownership structure or a transaction, providing it promptly will help us complete the required checks and keep your matter moving.

These requirements are new for the Australian legal profession, and we recognise that they may also be new for many of our clients.

Our aim is to make the process as straightforward as possible while ensuring we meet our obligations and continue providing the practical, responsive legal service you expect from us.

If you have any questions about AML/CTF requirements and how they may affect your matter, please speak with a member of the Rankin Business Lawyers team.