22/06/2026
🙊Are you a money laundering enthusiast? 💸🧼❌
🙈Do you have a keen interest in financing terrorism and other nefarious activities via your ill-gotten gains? 💣💥💊⚠️❌
🙉Well here's a helpful tip - It's time to STOP being a jerk, re-join civilised society and legitimise your operations!✅
❗️All levity aside, this is a VERY SERIOUS MATTER - Whether you're buying or selling a property, setting up a company, creating a trust or involved in a wide a variety of other legal or commercial transactions, from 1 July 2026, your lawyer may be legally required to ask more questions and collect additional information from and about you before acting for you. Read on to find out the hows and whys 👇🏼👇🏼👇🏼
🚨 TRANCHE 2 AML/CTF REFORMS ARE COMING – ARE YOU READY? 🚨
From 1 July 2026, Australia's AML/CTF regime will expand to cover lawyers, conveyancers, accountants, trust and company service providers, real estate professionals and certain dealers in high-value goods.
For many clients, this will mean additional identity verification and due diligence requirements when engaging professional advisors.
📌 What legal services are captured?
Law firms will be required to comply with AML/CTF obligations when providing certain designated services, including:
🏠 Property Transactions
• Buying and selling real property
• Conveyancing matters
• Assisting with property settlements
🏢 Companies & Business Structures
• Incorporating companies
• Selling or transferring companies
• Assisting with business acquisitions and disposals
• Acting in relation to company structures and ownership arrangements
🤝 Trusts & Other Legal Arrangements
• Establishing trusts
• Acting as trustee arrangements
• Assisting with trust structures and administration
💼 Corporate & Commercial Transactions
• Managing client funds in connection with certain transactions
• Assisting with mergers, acquisitions and restructures
• Transactions involving significant assets or investments
📋 What can YOU expect?
Before providing a designated service, your lawyer may need to obtain:
🪪 Proof of identity
🏠 Proof of address
🏢 Company and trust documentation
👤 Details of beneficial owners and controllers
💰 Information regarding the source of funds and source of wealth
🎯 Information regarding the purpose and nature of the transaction
✅ Early preparation can help avoid delays and ensure transactions proceed smoothly.
🗣️If you have questions about how the Tranche 2 AML/CTF reforms may affect your property transaction, business, trust structure or other legal matter, contact SJF Law & Advisory for tailored advice.
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