Verifying Client Identity From 1 July 2026
From 1 July 2026, Australia will extend anti-money laundering and counter-terrorism financing rules (often called AML/CTF) to cover certain services commonly provided by accountants and lawyers. These reforms are being led by AUSTRAC.
Australia is moving toward stronger expectations for professional services firms with the new AML/CTF laws, to protect businesses, communities, and the broader economy from being exploited by financial crime.
We’re updating our risk processes in line with new national reforms.
It’s not just about compliance; it’s about credibility in a world where financial crime is faster, smarter, and borderless.
What does this mean for you?
Before we can start (or continue) some engagements, we will need to complete client due diligence, which is simply a set of client checks to confirm:
- Who you are (identity checks), and in some cases,
- Who owns or controls the relevant entity (for companies, trusts and other structures),
- Why the work is being done (basic understanding of the purpose of the matter), and
- Whether anything looks unusual or high risk (so we can manage risk appropriately).
Why we are doing this (and why it benefits you):
These checks are not about distrust. They are designed to:
- Protect you and your business: Reduce fraud, identity misuse and the risk of your structures being misused by others.
- Keep matters moving: Having ID and ownership details ready upfront can prevent last-minute delays (similar to what banks already require).
- Meet our legal obligations: It helps ensure we can continue to act for you on regulated matters from 1 July 2026.
What we will ask you for:
Depending on the matter and the client type, we may request some of the following:
- Individuals: Photo ID (for example passport or drivers licence) and confirmation of your residential address.
- Companies and trusts: Basic structure details (directors, shareholders, trustees, beneficiaries) and supporting documents (ASIC extract, trust deed, company constitution where relevant).
- Purpose of the engagement: A short explanation of what you want to achieve.
- In higher-risk situations: Additional information may be required (for example, evidence of where funds are coming from).
Our Role
We will guide you through this step-by-step and keep requests proportionate to the work required. In practice, we will:
- Provide a simple checklist tailored to your circumstances.
- Collect and store information securely and only request what is needed.
- Re-use information where we can (so you are not re-sending the same documents repeatedly, subject to the rules and keeping details up to date).
Tips to Avoid Delays
- Confirm your entity chart: Know who owns what, and who ultimately controls the entity (especially where there are trusts or multiple entities).
- Locate key documents: ASIC company extract, trust deed, and current identification for relevant individuals.
- Plan for timing: For new regulated services, obligations apply from 1 July 2026.
- Expect ongoing updates: Some details may need refreshing over time (for example, changes in directors, trustees, or ownership).
Frequently Asked Questions
Why are you asking for ID now?
The law is expanding from 1 July 2026 and some accounting and legal services will require these checks before we can act.
Will this apply to every matter?
Not always. It depends on whether the service is a regulated (designated) service and the client circumstances. AUSTRAC has guidance to help businesses check if they may be regulated.
What happens if we do not provide the documents?
For matters that trigger the rules, we may not be able to commence or continue work until the checks are completed.
If you have any further questions, please get in touch with your Aintree Group adviser.
Our goal is to make this process as simple and transparent as possible. We’ll provide clear guidance every step of the way and welcome your questions or feedback at any time.
This is general advice only and has not been prepared with your situation and needs in mind. For individual and personalised advice, we highly recommend that you seek out proper professional advice from your accountant and lawyer.
