As part of changes to Australia’s Anti-Money Laundering and Counter-Terrorism Financing laws, commonly known as AML/CTF laws, MKG Partners is required to complete certain checks before providing some services to clients from 1 July 2026.

These requirements are now part of our compliance process for certain types of work. For most clients, this should be a straightforward step and may simply involve providing identification documents, confirming details, or completing a short form where required.

What is AML/CTF?

AML stands for Anti-Money Laundering and CTF stands for Counter-Terrorism Financing.

In simple terms, AML/CTF is a compliance framework that helps identify and reduce the risk of businesses being used to move or hide money connected to illegal activity. It also helps prevent funds from being used to support terrorism or other serious crime.

AML/CTF laws are overseen by AUSTRAC, which is the Australian Government agency responsible for regulating Australia’s anti-money laundering and counter-terrorism financing system.

When may AML/CTF apply?

AML/CTF requirements apply when we provide certain regulated services, known as designated services.

For accounting firms, this may include:

• assisting with company, trust, SMSF or other entity structures;
• helping with changes to ownership or control of an entity;
• providing a registered office address or principal place of business address;
• acting or arranging for someone to act in certain roles for a company, trust or other structure; and
• other services that fall within the AML/CTF framework.

This means that if MKG Partners assists with certain entity-related matters, or acts as the registered office for your company or structure, we may need to complete AML/CTF checks as part of our compliance obligations.

Why we may ask for more information

As part of our AML/CTF program, we may need to collect and verify certain information about you, your business, trust, SMSF or other entity.

This helps us confirm who we are acting for, who owns or controls an entity, and whether any further checks are required before we complete certain work.

These checks do not mean that we suspect anything is wrong. They are part of our compliance obligations and are now a normal part of providing certain services.

What information may be required?

Depending on the work being completed, we may ask for:

• identification documents, such as a driver’s licence or passport;
• confirmation of your residential address;
• information about a company, trust, partnership, SMSF or other entity;
• details of directors, shareholders, trustees, beneficiaries or beneficial owners;
• evidence of authority for anyone acting on behalf of another person or entity;
• completion of a PEP check form, where required;
• information about the source of funds or source of wealth, where relevant; and
• other supporting information relevant to the work being completed.

A PEP check refers to a Politically Exposed Person check. This helps identify whether a person holds, or has held, a prominent public position, or is closely connected to someone who does. This is a standard part of AML/CTF compliance and does not mean that anything is wrong.

For most clients, this should be a straightforward process. In many cases, it may simply involve providing identification, completing the required forms, or confirming details we need for our records.

We understand that these requirements may add an extra step from time to time. If we need any information from you, we will explain what is required and why it is needed. Providing the requested information early will help us avoid delays and continue assisting you as smoothly as possible.