From 1 July 2026, amendments to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) takes effect (AML/CTF regime). The AML/CTF regime has been extended to a range of professional services with the purpose of mitigating the risk of money laundering and terrorism financing in Australia.
Rigby Cooke is required to comply with the AML/CTF regime as we provide certain legal services that fall within the new regime, described as ‘designated services’. If we provide these services to you, we will be required to collect specific documents and information from you before we proceed.
Why does AML/CTF matter
Money laundering is the process of hiding, disguising or legitimising the origins and ownership of money or property used in or derived from crime, and financial terrorism is the process that terrorist organisations use to finance or support terrorist activities or organisations. These crimes contribute to:
- drug trafficking;
- human exploitation;
- government-funded program fraud; and
- large-scale financial fraud.
Australia’s reformed AML/CTF regime is based on international standards and is designed to address and prevent these crimes by ensuring Australia’s legal and financial systems are not exploited for unlawful purposes.
Our AML/CTF obligations
When providing ‘designated services’, Rigby Cooke must:
- conduct client due diligence;
- establish processes and procedures to meet our AML/CTF obligations; and
- report certain matters.
Designated services
The ‘designated services’ we provide which trigger our AML/CTF obligations include:
- assisting in the planning or execution of a transaction to sell, buy or transfer real estate;
- assisting in the planning or execution of a transaction to sell, buy or transfer a body corporate or legal arrangement;
- receiving, holding, controlling or managing property to help in the planning or execution of a transaction;
- assisting in organising, planning, or executing a transaction for equity or debt financing relating to a body corporate or legal arrangement;
- selling or transferring a shelf company;
- assisting in the planning or execution of the creation or restructuring a body corporate or legal arrangement;
- acting, or arranging for someone to act on behalf of a person in particular positions in a body corporate or legal arrangement;
- acting, or arranging for another person to act as a nominee shareholder; and
- providing a registered office address or principal place of business address of a body corporate or legal arrangement.
What you may need to do
If you request any ‘designated services’, we will ask you for information such as:
- identification documents;
- information about beneficial ownership structures (if relevant); or
- details regarding the source of funds involved in a transaction.
When collecting the above information from you, Rigby Cooke remains committed to client confidentiality and privacy. Information collected for AML/CTF purposes will be handled in accordance with applicable privacy laws, professional obligations and strict security standards. For more information, please see our Privacy Policy.