CHANGES TO GOVERNMENT ACT

08 Jul 2026| Posted by: Dave Tidbold

On July 1 this year (2026), changes to The Anti - Money Laundering and Counter - Terrorism Financing Act 2006 came into place. This means we now have a legal obligation to verify your identity before we can provide services to you.

WHAT THIS MEANS FOR YOU

When we provide a service, you may be asked to:
- verify your identity before using our services.
- Explain how our services will be used.
- Verify who owns or controls an account or business
- Keep your details up to date.
- Provide additional information where required. 

COLLECTING THIS INFORMATION HELPS US TO:

- Protect customers and services from criminal abuse.
- Support a safe and secure financial system. 
- Meet our legal obligations.

These checks are now a standard legal requirement and apply to many different customers and services.

AUSTRAC is an Australian Government Organisation that regulates businesses to combat Money - Laundering, Terrorism Financing and Proliferation Financing. As part of this regulation, customers of ours, both buyers and sellers, will need to provide identification proving they are who they claim to be.

This is part of our customer due diligence obligations. 

For more information, visit the website:
Why you might be asked for ID | AUSTRAC