From 1 July 2026, Australian law firms are required to comply with Anti Money Laundering and Counter Terrorism Financing (AML/CTF) obligations.
The requirements are designed to prevent the use of legal services for money laundering, terrorism financing, other serious financial crimes and to protect you and the community at large from the impact of money laundering and terrorism financing activities.
Makinson d’Apice is committed to fulfilling our obligations in helping mitigate financial crime by maintaining strong systems and procedures to support compliance with AML/ CTF laws.
What is means for you (as a client)
To comply with the new laws, we are required to carry out additional due diligence checks on prospective and existing clients, we may ask you
- for additional information at the start of the matter or during the progress of the matter,
- for identity documents / details about your company structure and Beneficial Owner,
- details on the source of funds / source of wealth and purpose of transactions.
Providing accurate and current information will enable us to expedite your matter and assist us in complying with our legal obligations.
We will only request information that is legally necessary.
How the AML/CTF obligations will impact our services
- We may have to request additional documents from you.
- For corporates / legal entities with complex structures we may require additional verification.
- High value transactions, property transactions and trust structures may also be subject to enhanced verification.
- We may also request additional information during the course of our engagement.
What happens if the due diligence process can’t be completed
We are mindful that our clients may sometimes find it difficult to provide some of the requested information or documentation, in such an event we will work with you to understand the reasons and where possible assist you.
If we are still unable to complete the verification process due to for example limited or incorrect information, we will contact you directly to discuss the procedures and processes we are required to follow.
Our Privacy Obligations
Makinson d’ Apice is committed to protecting your privacy. All personal information collected in the course of the verification process will be handled in accordance with the Privacy Act 1988 (Cth) and the Australian Privacy Principles. For further information about how we collect, store and use personal information, refer to our Privacy Policy.
Contact Us
Please contact us if you have any questions or would like to discuss.
SYDNEY
Level 33, 201 Elizabeth St
Sydney, NSW 2000
Tel: +61 2 9233 7788
BRISBANE
Level 34,1 Eagle Street
Brisbane City, QLD 4000
Tel: +61 7 2150 9100
Visit the AUSTRAC website for further information about the AML/CTF Act.