New Anti-Money Laundering Requirements Affecting Our Services to You
Recent changes to Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws now affect how we deliver certain services to you.
Why this matters
From 1 July 2026, the AML/CTF regime has been extended to cover a broader group of professional service providers, including law firms carrying out designated services such as certain company, trust and property transactions and the management of client funds or assets.
As a result, KCL Law is now subject to additional legal obligations when acting for clients in relation to these services.
What this involves
Depending on the nature of your matter, our obligations may require us to:
- Confirm the identity of clients we act for
- Identify and verify individuals who ultimately own or control a corporate or trust structure
- Understand the purpose and expected nature of the engagement
- Carry out periodic review of client relationships where circumstances warrant it
- Retain records in line with regulatory record-keeping standards
These obligations apply under legislation, not firm policy and extend to both new instructions and existing matters where a designated service is involved.
Information we may ask you to provide
To meet these obligations, we may need to request some or all of the following, depending on your circumstances:
- Government-issued photo identification (for example, a driver’s licence or passport)
- Confirmation of your current residential address
- Corporate records, such as an ASIC company extract
- Trust deeds or other constituent documents
- Details of individuals with ownership or control of an entity
- Documentation confirming your authority to act for a person or entity
- Whether you or a family member is a politically exposed person (PEP) being someone who holds a prominent public position
- Where relevant, information about the source of funds or wealth involved in a transaction
We will only ask for what is genuinely required to satisfy our obligations and nothing more.
How verification will work
Wherever practical, we intend to complete identity checks quickly and electronically through our secure verification provider, First AML. If electronic verification cannot be completed, we will let you know and offer an alternative way to satisfy the requirement.
Any information you provide will be handled in accordance with our privacy obligations and professional and regulatory standards. We must also complete and lodge annual reports with Australian Transaction Reports and Analysis (AUSTRAC) to show we have met our AML/CTF obligations.
What you need to do
In some matters, we will not be able to commence or progress work until identity verification and any related documentation has been completed. To keep your matter moving without delay, we would ask that you respond promptly if we contact you for identification or supporting information.
If we do not receive the required information or are unable to verify you in order to comply with the new laws we may be unable to act for you.
We are ready to help
We have updated our processes and trained our team to make this transition as seamless as possible. If you have any questions about how these requirements apply to your matter, please contact your usual contact point at KCL Law.
We appreciate your cooperation as these changes come into effect.
New Anti-Money Laundering Requirements Affecting Our Services to You
Recent changes to Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws now affect how we deliver certain services to you.
Why this matters
From 1 July 2026, the AML/CTF regime has been extended to cover a broader group of professional service providers, including law firms carrying out designated services such as certain company, trust and property transactions and the management of client funds or assets.
As a result, KCL Law is now subject to additional legal obligations when acting for clients in relation to these services.
What this involves
Depending on the nature of your matter, our obligations may require us to:
- Confirm the identity of clients we act for
- Identify and verify individuals who ultimately own or control a corporate or trust structure
- Understand the purpose and expected nature of the engagement
- Carry out periodic review of client relationships where circumstances warrant it
- Retain records in line with regulatory record-keeping standards
These obligations apply under legislation, not firm policy and extend to both new instructions and existing matters where a designated service is involved.
Information we may ask you to provide
To meet these obligations, we may need to request some or all of the following, depending on your circumstances:
- Government-issued photo identification (for example, a driver’s licence or passport)
- Confirmation of your current residential address
- Corporate records, such as an ASIC company extract
- Trust deeds or other constituent documents
- Details of individuals with ownership or control of an entity
- Documentation confirming your authority to act for a person or entity
- Whether you or a family member is a politically exposed person (PEP) being someone who holds a prominent public position
- Where relevant, information about the source of funds or wealth involved in a transaction
We will only ask for what is genuinely required to satisfy our obligations and nothing more.
How verification will work
Wherever practical, we intend to complete identity checks quickly and electronically through our secure verification provider, First AML. If electronic verification cannot be completed, we will let you know and offer an alternative way to satisfy the requirement.
Any information you provide will be handled in accordance with our privacy obligations and professional and regulatory standards. We must also complete and lodge annual reports with Australian Transaction Reports and Analysis (AUSTRAC) to show we have met our AML/CTF obligations.
What you need to do
In some matters, we will not be able to commence or progress work until identity verification and any related documentation has been completed. To keep your matter moving without delay, we would ask that you respond promptly if we contact you for identification or supporting information.
If we do not receive the required information or are unable to verify you in order to comply with the new laws we may be unable to act for you.
We are ready to help
We have updated our processes and trained our team to make this transition as seamless as possible. If you have any questions about how these requirements apply to your matter, please contact your usual contact point at KCL Law.
We appreciate your cooperation as these changes come into effect.
Last review: July 2026