Anti-Money Laundering Laws

Why you may be asked for more information

These changes are driven by law and overseen by the regulator, AUSTRAC. They reflect a growing focus on how professional services can be used, often unknowingly, to move or conceal illicit funds.

From 1 July, when you engage Moores, we may need to:

• Confirm your identity
• Ask about the purpose of the engagement or transaction
• Verify details using independent sources
• Request additional information in higher risk situations

These checks are already standard in banking and financial services. They will now apply to certain legal services as well.

What this means for you

For most clients, the process will be simple and completed at the start of your matter.

You may be asked to provide:

• Basic identification details
• Proof of identity
• Information about key individuals involved if applicable (such as directors or beneficial owners)
• A brief explanation of the purpose of the work

In some cases, we may need to ask further questions. This is based on a risk assessment and does not indicate any concern about you or your matter.

Why this is required

Under the new laws, we must:

• Know who we are acting for
• Understand the nature of the work
• Identify and report suspicious activity where required

We are not able to bypass these steps, even where we have an existing relationship with you.

How your information is handled

We take privacy and data security seriously.

Information collected for AML/CTF purposes:

• Is used only to meet our legal obligations
• Is stored securely in line with strict requirements
• Is accessed only by authorised personnel
• Is only shared with regulators where required by law

Please refer to Moores’ Privacy Policy.

What to expect when working with us

We have put processes in place to make this as efficient and straightforward as possible. Our focus is to:

• Keep requests clear and proportionate
• Minimise duplication
• Enable secure information sharing through the digital identification platform, RealAML
• Complete checks quickly so your matter can progress without delay