From www.holmanwebb.com.au: Starting 1 July 2026, clients engaging lawyers, real estate professionals, or accountants will be required to provide extensive personal and corporate documentation to comply with new Anti-Money Laundering and Counter-Terrorism Financing reforms.

These changes, introduced by the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024, aim to enhance compliance and bring Australian regulations in line with international standards.

Reporting entities must enrol with AUSTRAC, conduct client due diligence, and report suspicious transactions and activities as part of their obligations.