From 1 July 2026, new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) obligations officially came into effect for accounting firms and a range of other professional service providers. Last month, we outlined the upcoming changes and what they would mean for our clients.
As we have now commenced our AML/CTF compliance processes, many clients are receiving requests to verify their identity and provide additional information through our secure verification platform, easyAML.
One of the most common questions we’ve received is:
“Why do I have to provide identification to my accountant?”
Whether you are a long-standing client of HFB or engaging us for the first time, the answer is the same: these requirements are now part of our legal obligations when providing certain designated services.
For some people, it may seem unnecessary, particularly if we have worked together for many years or if you have already provided information to other organisations such as your bank, solicitor or financial institution. However, the legislation requires us to independently verify the identity of our clients and, where relevant, obtain information about the ownership and control of companies, trusts and other entities.
These measures are designed to help prevent money laundering, terrorism financing, fraud and other financial crimes, while strengthening the integrity of Australia’s financial and professional services sectors.
To make the process as straightforward as possible, we have partnered with easyAML. To help you understand the process, we’ve provided a guide explaining why identity verification is required and a step-by-step easyAML verification guide. The process can be completed online in just a few minutes using a secure link sent via email or SMS. No app download is required. Depending on the service being provided, you may be asked to:
- Verify your identity using approved identification documents;
- Complete a selfie verification;
- Confirm who owns or controls a company, trust or business; and
- Provide information relating to the intended use of our services.
While we understand that these additional steps can sometimes feel inconvenient, they are not optional for either our clients or our firm. Where identification or required information cannot be obtained and verified, the law may prevent us from providing the designated service requested.
The good news is that the verification process is generally quick, secure and designed to help protect both our clients and the broader community from financial crime.
We sincerely appreciate the cooperation and patience shown by our clients as these new requirements are introduced. If you have any questions about the verification process or need assistance completing your easyAML check, please contact our team.