AML and CTF verification
What Australia’s new anti-money laundering rules mean for you
From 1 July 2026, Australia’s anti-money laundering and counter-terrorism financing laws were extended to cover a range of professional services for the first time.
Where those laws apply, we are legally required to verify identity before we can start work. This page explains when that applies, what we will ask you for, and how the process works.
When verification is required
The new rules are tied to particular services rather than to whole professions. The services that trigger them include:
Setting up a new company
Setting up a new trust
Restructuring an existing entity
Corporate secretarial services
Acting as your registered office or principal place of business
Because we look after the corporate side of most of the client groups we work with, the majority of our clients will need to complete verification at some point. For most people it happens once, at the start, and then it is done. Verification is required before we can begin the affected work, so it is worth building a little time into your plans if you are setting up a new structure. If you are not sure whether this applies to your situation, ask us. It is usually a quick answer.
Why this has changed
Australia has expanded its anti-money laundering and counter-terrorism financing laws to cover professional services that can be misused to move or conceal money. The changes are administered by AUSTRAC, Australia’s financial crime regulator, and they bring Australia into line with the United Kingdom, the European Union and most other developed economies. The reasoning is that professionals who help set up and administer companies and trusts are well placed to notice when something is not right. The obligation to check now sits with us.
Little Miss Bookkeeping and Neapolitan Collective are trading names of Michelle Jade Knight Pty Ltd, which is enrolled with AUSTRAC as a reporting entity.
What we will need from you
Where verification is required, we will send you a secure link. What we need depends on the structure.
Individuals
Your full legal name, date of birth, residential address, and a current government issued photo identification document, usually a driver licence or passport. This applies to directors, trustees, partners and certain shareholders and beneficial owners.
Companies
We verify the company using ASIC and other available records. Directors and relevant beneficial owners will each need to complete individual verification.
Trusts
We will need the trust deed and related records. Trustees, the directors of a corporate trustee, and relevant beneficial owners may also need individual verification.
Your personal verification generally only needs to be completed once, even if you are connected to several entities. Each entity, however, is verified separately.
How verification works
We do not collect or store your identity documents. Verification is completed through a secure specialist provider connected to our onboarding platform. You will receive a link, complete the check directly with the provider, and we receive the verification result and the compliance record we are required to keep.
We will never ask you to email us a copy of your driver licence or passport, and we do not keep those documents on file. Holding identity documents alongside other sensitive information such as tax file numbers creates an unnecessary security risk, and we would rather not carry it. If a copy does reach us, our policy is to delete it.
Most people complete it on their phone in a few minutes. If electronic verification is not suitable for your circumstances, let us know and we will work out an alternative. We are required to complete verification before we can start work on an affected service, so completing it promptly helps us avoid delays at your end.
What this means for your engagement
Verification involves out of pocket costs and professional time, so a verification fee applies where these requirements are triggered. The fee depends on the structure involved, including how many entities and individuals need to be verified. We will confirm what applies to your situation during your initial consultation, and it will be set out clearly in your proposal before you engage us. There will be no surprises on an invoice.
Ongoing obligations
Initial verification is largely a one off, but the law also requires us to keep the information we hold current and to carry out ongoing due diligence for the services that are covered. In practice, for most clients, this means we may occasionally ask you to confirm or update details, particularly when a structure changes, a new director or trustee is appointed, or our records are getting out of date.
We are also required to report certain matters to AUSTRAC where the law requires it. In some circumstances the law prevents us from discussing a report with a client. Where verification cannot be completed, or where we are unable to satisfy our obligations, we may not be able to provide the service. This is not a reflection on you personally. It is a limitation the legislation places on us.
Your information and your privacy
We treat identity information as sensitive and handle it accordingly.
Verification is completed through a secure specialist provider, not by email or over the phone
We retain verification records for the period the law requires
Access to compliance records within our practice is restricted
Being asked to verify your identity does not mean we suspect anything. It is a standard compliance step that applies to everyone receiving an affected service.
Frequently asked questions
I have been a client for years. Do I need to complete verification?
Does this mean you suspect something?
What if I cannot find my trust deed?
What is a politically exposed person?
Do I need to do anything right now?
Can I just email you a copy of my driver licence?
I have several entities. Does each one need to be checked?
Can I complete verification without coming into an office?
Why are you asking about where funds came from?
Who do I talk to if I have questions?
