Anti-Money Laundering and Counter-Terrorism Financing

Written By Liang & Co Lawyers

Client identification and AML/CTF compliance

Liang & Co Lawyers takes its obligations to prevent the misuse of legal services for financial crime seriously. This includes complying with laws aimed at reducing the risk of money laundering, terrorism financing and related unlawful activity.

From 1 July 2026, Australian law practices providing particular types of legal services have obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. These obligations may require us to obtain and verify information about our clients, related parties and certain transactions before we can provide affected services.

These requirements form part of Australia’s broader AML/CTF framework and apply to a range of professional service providers.

When we may need information from you

If your matter involves services covered by the AML/CTF regime, Liang & Co Lawyers may need to request information or documents from you before, or during, the course of acting.

Depending on the nature of the matter, this may include information to help us:

  • confirm your identity;

  • understand the nature and purpose of the matter or transaction;

  • identify persons who ultimately own, control or benefit from a company, trust or other structure;

  • obtain details about funds or wealth connected with a transaction;

  • ensure information previously provided to us is still complete and up to date; and

  • meet any further verification or due diligence requirements imposed by law.

Requesting this information assists us to comply with our statutory obligations and helps reduce the risk that legal services are used for unlawful financial activity. It also contributes to the protection of clients, commercial dealings and the integrity of Australia’s financial system.

Matters that may fall within the AML/CTF regime

The AML/CTF legislation applies to specific categories of legal work, referred to as designated services. Whether the requirements apply will depend on the particular facts and scope of your matter.

Examples of legal work that may be affected include matters involving:

  • buying, selling or transferring real estate;

  • buying or selling a business, or business-related assets;

  • forming, acquiring, reorganising or transferring companies, trusts or other legal arrangements;

  • handling or managing client money, securities or other assets;

  • setting up or operating corporations, partnerships, trusts or comparable entities;

  • mergers, acquisitions or similar corporate transactions; and

  • any other services or transactions covered by AML/CTF laws or regulations.

Not every legal service is subject to these obligations. If your matter is affected, your lawyer at Liang & Co Lawyers will explain what information is required and when it needs to be provided.

If requested information is not provided

For matters covered by the AML/CTF regime, we must complete required identification, verification and due diligence steps before providing certain services.

If we cannot obtain the information or documents required by law, Liang & Co Lawyers may not be able to start work, may need to stop acting, or may be unable to complete a transaction or step in your matter.

How we will work with you

We appreciate that AML/CTF checks may involve questions or documentation that clients are not used to providing in a legal matter. Liang & Co Lawyers will aim to make the process clear, secure and efficient while ensuring we meet our legal responsibilities.

If you have any questions about why information is being requested, or how the AML/CTF requirements may apply to your matter, please contact your lawyer at Liang & Co Lawyers.

Further information about Australia’s AML/CTF framework is available from AUSTRAC.

Liang & Co Lawyers