Australia’s expanded anti-money laundering and counter-terrorism financing regime
From 1 July 2026, Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws apply to certain legal services. As a result, Mallesons comes under AUSTRAC regulation and must comply with all applicable AML/CTF requirements.
These changes strengthen Australia’s AML/CTF framework and bring it into closer alignment with international standards and existing expectations on lawyers in many other countries.
Legal services subject to AML/CTF laws
The AML/CTF laws impose additional obligations on legal services that present a higher risk of financial crime or fund movement. These services typically include:
- assisting with buying or selling property
- handling client money or assets (including through trust accounts)
- setting up or managing companies, trusts, or other structures
- assisting with significant business or commercial transactions.
What this means for our clients
We must complete client due diligence before we can provide legal services. In accordance with the AML/CTF laws we may need to:
- request additional documentation
- verify identities of clients and key associated people
- carry out required sanctions and adverse news screening and AML/CTF checks including checks to identify politically exposed persons
- understand business activities, ownership structures and verify the beneficial ownership of our clients
- confirm the source of funds for certain transactions and clients.
If due diligence requirements are not met
We understand that clients may find it difficult to provide some of the requested information or documentation. If that happens, we will work with you to understand the reasons and explore how we can assist.
However, if we cannot obtain the required information, we may be unable to proceed with providing legal services.
Minimising intrusion and requests for information
We are committed to minimising disruption to you and your business. Where possible, we will obtain relevant information from trusted public sources and third-party data providers. Our approach is to only request information where required.
We collect, use, and store personal information in accordance with applicable privacy laws. For more information, please refer to our Privacy Notice.
Our commitment
Financial crime presents significant risks to both the legal profession and the broader community. At Mallesons, we actively identify, prevent, and respond to these risks by maintaining strong policies, controls, and processes that support compliance with AML/CTF and sanctions laws.
This commitment reflects not only our legal and regulatory obligations but also our broader dedication to maintain the highest standards of integrity, professionalism, and ethical conduct.
For further information or questions, please contact Matthew Swinn, Managing Partner - Practice Excellence - [email protected].