RWC WA’s approach to AML
Our obligations From 1 July 2026, new federal laws will require our business, along with many other professional service providers, to comply with Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) rules.
Under these laws, all regulated businesses must:
• verify the identity of their clients
• understand the purpose of each matter or transaction
• assess and document risks
• keep clear, accurate records of decisions
We are legally required to complete these checks before we can provide services.
Why these checks matter Money laundering is a significant issue in Australia.
Criminals use legitimate businesses to disguise billions of dollars in illegal funds each year. These funds fuel:
• drug trafficking
• human exploitation
• terrorism
• large-scale financial fraud
Strong AML controls help stop criminal networks from using professional services to move or hide illicit money. Every identity check and risk assessment contributes to protecting our clients, our industry and our community.
The AML process
What to expect: Our process is designed to be clear, efficient and secure. Most clients complete it quickly once documents are provided.
How it works
1. Share your details We request basic identity information and any relevant documents.
2. Verify your information Identity and ownership details are checked securely through approved systems.
3. Clarify anything missing If further documents or explanations are needed, we’ll let you know immediately.
4. Complete the assessment We review the matter, assess risk and finalise the required AML checks.
5. Begin working with you Once checks are complete, we proceed with your matter.
This process is mandatory under AML/CTF regulations and ensures we meet our legal obligations while keeping clients and communities safe.
Our commitment to responsible data handling We take privacy and data security seriously.
Any information you provide is handled in accordance with:
• Australian privacy laws
• our professional confidentiality obligations
• strict AML/CTF regulatory requirements
Your data is used only for identity verification, compliance checks and onboarding purposes. We do not share information for marketing, and we do not sell or trade client data. All documents and personal details are stored securely, accessed only by authorised staff, and protected through encrypted systems and controlled processes.
If you have any concerns or questions, please contact our office.
Understanding the AML/CTF Act and why we need your ID
What is the AML/CTF Act and why does it matter?
Australia’s Anti-Money Laundering and CounterTerrorism Financing (AML/CTF) Act is designed to stop illegal funds from entering the financial system. AUSTRAC estimates more than $68 billion worth of crime-related money is cleaned through Australia every year. This legislation aims to stop the flow of crime money and bring us in line with the rest of the world. That’s why from 1 July 2026, professional services f irms, including law, accounting and real estate, will be required to:
• Verify client identity
• Assess the risk of money laundering or terrorism financing
• Monitor client activity and report suspicious behaviour
It’s not about ticking boxes. It’s about keeping crime out of our communities, professions and country.
Why are you being asked for documents?
We may need to collect ID documents, company records, trust deeds, or information on the source of funds. If you’re representing a company, trust or other structure, we’re also required to identify and verify the individuals who ultimately own or control it. This isn’t because we think anything’s wrong - it’s because we’re required by law to apply consistent checks to everyone. Each check is a small act of protection; helping stop criminal activities, and keeping dirty money out of Australia.
What you can expect from us
• A clear explanation of what’s required
• Secure handling of your information
• A streamlined experience supported by technology
Why we need your ID (and what happens next)
As part of new anti-money laundering laws in Australia, professional services firms like ours will soon be required to verify the identity of all clients. This helps protect the financial system from misuse and brings us in line with global AML standards.
What we may ask for
• A form of photo ID (e.g. passport or driver’s licence)
• Proof of address (e.g. utility bill or bank statement)
• Company, trust or SMSF documentation (if relevant)
• Details about ownership or control of complex entities
• Source of funds information (for higher-risk transactions) How your information is handled
• We only collect what’s required by law
• Your data is stored securely and handled in confidence
• It’s used only for regulatory purposes
What happens next
We’ll guide you through the process step by step. If anything is unclear, just ask. We’re here to make compliance easy for you and us.