05/06/2026
Our staff are continuing their specialised training into the significant new laws that will come into force on 1 July, introduced by the government to prevent money laundering and financial crime.
What does this mean for law firms, real estate agents, accountants and other similar small businesses? We will need to take extra steps to verify your identity and will need to ask you additional questions about things like the source of your funds for your transaction (for example, if you are buying a house). Small businesses across Australia will be shouldering some of the responsibility of identifying criminal activity or proceeds of crime and serious reporting obligations have been placed on us.
So please be patient with our staff if we ask you additional questions or seek more documentation from you while we do our best to comply with the new legislation.
Further information can be obtained here: https://www.austrac.gov.au/
T: 02 4651 4800
E: [email protected]
W: www.cmcox.com.au