In effect since 1 July 2026.
MALEY’s approach to AML & KYC
New federal laws require us to verify who our clients are before we act on certain matters. It applies to every law firm in Australia. Here is what we may ask you for, and why.
Our obligations
What the law requires
New federal laws that took effect on 1 July 2026 brought lawyers, conveyancers and accountants into a regime that previously covered mostly banks. When we act for you on certain work, we now have to do four things.
I
Verify who you are
Confirm your identity from reliable documents, and identify anyone else who controls the funds or the entity involved.
II
Understand the purpose
Understand the transaction, where the money is coming from, and what you are asking us to do.
III
Assess and record risk
Apply a documented risk assessment to the matter and keep it under review while we act.
IV
Keep accurate records
Hold clear records of those checks securely for seven years, as the legislation requires.
Our obligations
Why these checks matter
Money laundering is the business of pushing money earned through crime into ordinary transactions so it comes out looking clean. Property purchases, business sales and company structures are among the most common routes, which is why those are the services now covered.
The money moving through them funds:
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drug trafficking and organised crime
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terrorism and its financing
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human trafficking and exploitation
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large scale fraud and scams
Doing the checks properly protects you as well. It means the person on the other side of your transaction has been through the same process.
The process
What to expect
For most clients this is done once, at the start of the matter, and takes a few minutes.
1. You share your details
We send you a short form and tell you exactly which documents we need for your matter.
2. We verify your identity
In our Cavenagh Street office, or electronically if you are remote or interstate.
3. We come back on anything missing
An expired licence or a name that does not match. Common, and quickly sorted.
4. We complete the assessment
An internal step, recorded on your file. Nothing further needed from you.
5. We get to work
We act on your matter as normal, and only come back to you if something material changes.
What we require from you
What we may ask for
Not every matter triggers these requirements. Where one does, we may need to ask you for some or all of the following:
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a completed client due diligence form, which we would send to you
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identification for you, and in some cases for others involved in the matter such as trustees, directors or beneficial owners
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further supporting documents, depending on what the matter involves
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What we need varies from matter to matter, so we will tell you what applies to yours rather than handing you a generic list.
If you are already a client, a new matter may need its own checks.
Our commitment
Privacy and data security
We take privacy and data security seriously. Anything you give us is handled in accordance with:
Governing frameworks
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Australian privacy laws
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Our professional confidentiality obligations
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Anti-Money Laundering regulatory requirements
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Legal professional privilege, which the Act expressly preserves
Your information is used only for identity verification and compliance. We do not share it for marketing, and we do not sell or trade client data.
Documents and personal details are stored securely and accessed only by authorised staff.
Need Advice
Questions about any of this?
Not sure whether it applies to your matter, or want the paperwork out of the way before your first appointment? Give us a call.