Anti Money Laundering Compliance
From 1 July 2026, new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) obligations will apply to certain designated services provided by accounting firms under Australia’s Tranche 2 AML/CTF reforms.
These changes aim to protect Australia’s financial system from money laundering, terrorism financing, and other financial crime risks.
What this means for you
When Carbon Group provides certain designated services, we will need to complete additional client onboarding checks. This might include verifying your identity and understanding your business structure, ownership, and legal arrangements.
Designated services include:
- Setting up or restructuring companies, trusts, SMSFs, partnerships or other entities
- Assisting with the purchase, sale or transfer of a business or entity
- Supporting equity or debt financing transactions
- Holding or managing client money, property or assets
- Acting as, or arranging, directors, secretaries, trustees or nominee shareholders
- Providing registered office, business address or correspondence address services
- Supporting real estate transactions beyond general tax or accounting advice
What we might ask for
Before we provide certain designated services, we might need to request identification and business documents. This might include identity documents, company extracts, trust deeds, partnership agreements, SMSF documents or details of beneficial owners.
These checks are a standard legal requirement under the AML/CTF framework. They are not a reflection on you or your business.
All information provided to Carbon Group will be handled confidentially and stored securely in line with our privacy policy.
For more information, visit AUSTRAC guidance on identity verification.