AML/CTF Requirements

ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING – CLIENT INFORMATION

From 1 July 2026, reforms to Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws mean that certain accounting and advisory services are subject to new regulatory obligations. To make sure we can keep working with you without disruption, you may be asked to provide additional documentation when we act for you on certain matters.

THE NEW OBLIGATIONS: REDUCING AUSTRALIA’S FINANCIAL CRIME RISK

The new obligations apply when we provide specific ‘designated services’ to clients. For an accounting firm, this can include assisting with property or business transactions, handling client money or assets, and helping to form or restructure companies, trusts or partnerships.

Meeting these obligations is part of a national approach to manage money laundering in Australia, helping authorities track and limit the flow of funds that support activities such as drug trafficking, human exploitation, financial fraud and terrorism.

If you require any of these designated services, Client Due Diligence (CDD) checks may need to be completed before we can proceed. These checks are mandatory for all firms providing designated services.

WHAT WE REQUIRE FROM YOU

When we begin new work categorised as a designated service, we may ask you to provide us with information that helps us verify your identity and, where relevant, the identity of anyone who controls or benefits from the client, such as trustees or beneficial owners. In some cases, you may also need to provide additional documents and allow us to verify the identity of certain individuals.

We may also contact some clients to provide required information and complete an identity verification for existing or upcoming matters, so that we are ready to provide designated services without disruption.

WLM will provide detailed guidance on the information and documentation required and how to provide them to us, and the identity verification process. These are collected securely through our client portal or through our identify verification provider.

OUR COMMITMENT

We are committed to supporting you under the AML/CTF framework and to the smooth, uninterrupted continuation of our services. If you need any further clarification, please contact your WLM adviser or call us on (02) 9221 7777.

SECURE AND RESPONSIBLE HANDLING OF YOUR DATA

Any personal information collected as part of the AML/CTF process, including information about client representatives, beneficial owners or other individuals connected with your entity, will be handled securely. Access is limited to those who need it to meet our AML/CTF compliance obligations. Further information is available in our Privacy Policy.

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Legal Notices

WLM Website Information

The information contained in the WLM website has been prepared from a wide variety of sources, which WLM, to the best of its knowledge and belief, considers accurate. WLM does not, however, warrant the accuracy of the information and forecasts possibly contained in the WLM website. No visitor to the site should rely upon the information and/or recommendations contained in the WLM website.

WLM strongly recommends that you make your own inquiries and seek professional advice before acting on any of the information contained in the WLM website. Should you wish to seek advice, please feel welcome to contact us.

The information is current only at the time it is placed on the website. WLM is under no obligation to update the information or correct any inaccuracy which may become apparent at a later time.

The information on this website is general in nature. It does not take into account your particular objectives, financial situation or needs, and should not be relied on as tax, accounting or financial advice. You should obtain advice specific to your circumstances before acting on any of it.

Our Services and Financial Advice

WLM provides accounting, taxation and business advisory services. We are not licensed to provide financial product advice and do not provide advice on financial products such as investments, superannuation, insurance or securities. Where you need advice of this kind, we will refer you to an appropriately licensed financial adviser. Nothing on this website should be taken as a recommendation to acquire, hold or dispose of any financial product.

Registered Tax Agent

WLM Financial Services Pty Ltd is a Registered Tax Agent (Tax Agent Number: 78329002). You can verify our registration on the Tax Practitioners Board (TPB) public register at www.tpb.gov.au/public-register. As a registered tax agent, we are subject to the Tax Agent Services Act 2009 and the Code of Professional Conduct administered by the TPB.

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WLM grants permission to reproduce hard copies of the information for personal use only. Unless an article is sourced, or it is expressly stated to the contrary, WLM owns copyright on all information.

All trademarks, logos and brand names displayed on this website are the property of WLM or their respective owners, and may not be used without permission.

Jurisdiction and Governing Law

The information contained in this site is for Australian residents only. This website and these terms are governed by the laws of New South Wales, Australia.

Privacy and Security

We take the privacy and security of your personal information seriously and handle it in accordance with the Privacy Act 1988 (Cth) and the Australian Privacy Principles.

This website uses cookies and similar tracking technologies, including through HubSpot, to understand how visitors use the site and to improve your experience. You can manage cookies through your browser settings.

When you complete a form, subscribe, or send us a message, we collect personal information such as your name and email address, along with any details you provide. This information is stored in our customer relationship management system (HubSpot) and is used only for the purpose for which you provided it. We will not add you to a mailing list or use your information for another purpose without your consent.

If a data breach occurs that is likely to result in serious harm, we will respond in line with the Notifiable Data Breaches scheme.

For full details of how we collect, use, store and disclose personal information, see our Privacy Policy.

Third Party Site Links

This website links to third party sites. Please be aware that WLM is in no way responsible for the privacy or security practices on these sites. They are not covered by the policy set out here, and should instead have their own Privacy and Security Policy contained on their site, which we encourage you to read.

WLM Financial Services Pty Ltd

Liability limited by a scheme approved under Professional Standards Legislation. This scheme applies through our membership of Chartered Accountants Australia and New Zealand (CA ANZ).

If you have any further questions about the services WLM Financial Services Pty Ltd provides, please call us on 02 9221 7777.

Complaints

If you have a complaint about the service we have provided, please:

Raise it with your usual WLM contact or a Director. We will work with you to resolve it, and you are welcome to put your complaint in writing to the Board of Directors, WLM Financial Services Pty Ltd.
If you are not satisfied with the outcome, you can also raise your complaint with:
1. For tax agent services: the Tax Practitioners Board, using the online complaints form at www.tpb.gov.au/complaints.
2. For professional conduct: Chartered Accountants Australia and New Zealand (CA ANZ).
3. For privacy or a data breach: see our Privacy Policy, or the Office of the Australian Information Commissioner (OAIC).