Russell Kelly & Associates · Norwest NSW
Anti-Money Laundering & Client Identification
From 1 July 2026, Australian anti-money laundering and counter-terrorism financing laws apply to legal practices when they provide certain designated legal services.
These laws are administered by AUSTRAC and are intended to help prevent the misuse of legal and financial services for money laundering, terrorism financing and other serious financial crime.
As part of these obligations, Russell Kelly & Associates may need to obtain and verify information about you, the people or entities connected with your matter, the purpose of the transaction and, in some circumstances, the source of funds or wealth.
When Do AML/CTF Requirements Apply?
The AML/CTF obligations do not apply to every legal service. They apply where a legal practice provides a service that is designated under the AML/CTF legislation.
Depending on the circumstances, designated services can include certain legal work connected with property transactions, business and company arrangements, trusts and other transactions prescribed by the legislation.
We will let you know if AML/CTF requirements apply to your matter and what information or documents we need from you.
Why Do We Need to Verify Your Identity?
Customer due diligence is an important part of the AML/CTF regime. Before providing a designated service, a legal practice generally needs to establish certain information about the customer and associated persons on reasonable grounds.
This can include confirming:
- the identity of the client;
- the identity and authority of any person acting for the client;
- the identity of relevant beneficial owners where the client is an entity;
- whether particular people are politically exposed persons or subject to targeted financial sanctions;
- the nature and purpose of the business relationship or transaction; and
- other information required according to the risk associated with the matter.
What Information May We Ask You to Provide?
Proof of Identity
Depending on the matter, we may ask for reliable identification documents such as:
- an Australian or foreign passport;
- a driver’s licence; or
- another government-issued identification document.
Residential Address and Personal Details
We may ask you to confirm information such as your current residential address, date of birth, citizenship or other identifying information where relevant.
Source of Funds or Source of Wealth
In some matters, particularly where a higher AML/CTF risk is identified, we may need information about the source of funds used in a transaction or the source of a person’s wealth.
The documents required will depend upon the nature of the transaction and the circumstances of the client.
Information About Your Matter
We may also ask questions about the purpose and nature of the transaction or legal service so that we can understand the matter and assess the relevant AML/CTF risk.
Companies, Trusts and Other Entities
If we are acting for a company, trust, partnership or other entity, we may require documents concerning its ownership and control structure and the identity of relevant beneficial owners or persons acting on its behalf.
What Are Our AML/CTF Obligations?
Where the AML/CTF regime applies, legal practices may have obligations including:
- maintaining an AML/CTF program;
- conducting customer due diligence;
- assessing and managing money laundering and terrorism financing risks;
- keeping required records;
- monitoring customers where required; and
- making reports to AUSTRAC in circumstances required by law.
The precise requirements depend on the designated service being provided and the circumstances of the client and transaction.
Can We Start Work Before Identification Is Complete?
Initial customer due diligence generally needs to be completed before a designated service is provided, although limited exceptions can apply in particular circumstances.
If we cannot establish the required information on reasonable grounds, we may be unable to commence or continue providing a designated service.
Protecting Your Privacy
We understand that identity, financial and ownership information can be sensitive.
Information collected for AML/CTF compliance is handled in accordance with applicable privacy, confidentiality, professional and record-keeping obligations.
AML/CTF Privacy Collection Notice
Where the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and associated Rules apply to a service we provide, Russell Kelly & Associates may collect personal information for customer due diligence, identity verification, risk assessment, ongoing customer due diligence and other AML/CTF compliance purposes.
The information we collect may include identification information, residential address and date of birth, information about beneficial owners or persons acting on your behalf, information about the nature and purpose of a transaction or business relationship and, where required, information concerning source of funds or source of wealth.
Collection of this information may be required or authorised by the AML/CTF legislation. If we are unable to obtain or verify information required for AML/CTF purposes, we may be unable to commence or continue providing a designated service.
We may disclose relevant personal information to identity verification and compliance service providers, government agencies and regulators, including AUSTRAC, where authorised or required by law. Information may also be processed by technology service providers in Australia or overseas as described in our Privacy Policy.
Our Privacy Policy explains how we collect, hold, use and disclose personal information, including overseas processing, security, access and correction rights and how to make a privacy complaint.
What Happens Next?
If AML/CTF customer due diligence applies to your matter, we will tell you what documents or information are required and explain the process.
Providing the requested information promptly can help avoid delays in commencing or continuing work on a designated service.
Speak to Russell Kelly & Associates
If you have questions about identification or AML/CTF requirements applying to your legal matter, contact our office.
This information is general in nature. AML/CTF obligations depend upon the service being provided, the client, the transaction and the applicable legislation and Rules.