From 1 July 2026, many Australian law firms and other professional service providers will become subject to new obligations under Australia’s Anti-Money Laundering and Counter-Terrorism Financing regime.
These reforms are designed to reduce the risk of legal and professional services being misused for money laundering, terrorism financing, fraud, sanctions evasion and other financial crimes.
For clients, this means there may be some changes to the way we open matters, verify identity, accept instructions and collect information at the start of a matter.
At Owen Hodge Lawyers, we have been preparing for these changes carefully and are ready for the new regime.
What will change for clients?
In some matters, we may be required to carry out Customer Due Diligence before we can provide legal services.
This means we may need to collect and verify information about our clients and, in some cases, other people connected to a matter.
Depending on the type of matter, this may include information about:
- individuals;
- company directors and shareholders;
- trustees;
- beneficiaries;
- appointors;
- attorneys;
- executors;
- purchasers and vendors;
- borrowers and guarantors; and
- other people with ownership, control or decision-making authority.
The information we request will depend on the nature of the legal work, the client structure and the risk profile of the matter.
In many cases, this process will be straightforward. In other matters, particularly where companies, trusts, overseas parties or complex ownership structures are involved, we may need to ask for further information before the matter can progress.
What information may be required?
Where Customer Due Diligence is required, we may ask for information such as:
- full legal name;
- date of birth;
- residential address;
- email address;
- mobile number;
- details of any company, trust or other entity involved;
- details of directors, shareholders, trustees, beneficiaries or appointors;
- information about the source of funds or source of wealth; and
- whether any relevant person is a politically exposed person or subject to sanctions.
These requests are not optional preferences of the firm. They form part of the new compliance environment that applies to legal service providers.
We appreciate that this may involve additional administration for clients. Our aim is to make the process as clear and efficient as possible.
Verification of identity
As part of these changes, some clients and related parties may be asked to complete an identity verification process.
Owen Hodge Lawyers has chosen My DataBoss as our platform of choice to support this process.
My DataBoss allows us to manage identity checks, client due diligence, records and workflow in a practical and secure way. It helps ensure that the information required for AML/CTF compliance is collected properly, stored appropriately and dealt with consistently across the firm.
We selected My DataBoss because it is designed with the practical needs of professional service firms in mind. It helps turn complex compliance obligations into a clear process that clients and staff can follow.
For our clients, this means a more efficient onboarding experience.
For our team, it means better systems, clearer records and stronger oversight.
For the firm, it means we can meet our obligations with confidence while continuing to provide timely and practical legal advice.
Why MyDataBoss?
Technology is not a substitute for legal judgement, but the right technology can make compliance easier to manage.
My DataBoss gives us a platform that supports:
- client identity verification;
- Customer Due Diligence workflows;
- matter risk assessment;
- recordkeeping;
- internal reporting;
- audit readiness; and
- consistent processes across the firm.
Importantly, My DataBoss helps us embed AML/CTF compliance into the way our firm already works.
That matters because compliance is not just about having a policy document. It is about making sure the firm has clear procedures, trained staff, proper records and a system that supports good decision-making.
This is why Owen Hodge Lawyers has taken a strategy-first approach.
We have not simply chosen software and hoped it would solve the issue. We have worked through the legal obligations, the practical risks and the internal processes required to operate under the new regime. My DataBoss then supports the implementation of that framework.
A firm prepared for the new regime
Owen Hodge Lawyers has been at the forefront of AML/CTF readiness in the legal profession.
Our Managing Partner, Rolf Howard, has significant expertise in this area and has been actively involved in helping professional service firms understand and prepare for the new obligations.
Rolf’s approach is clear: AML/CTF compliance is not just an administrative task. It is a governance issue.
A law firm needs to understand its risk, know its clients, train its team, keep proper records and have clear escalation processes when something does not look right.
That is the work Owen Hodge Lawyers has been doing.
We have reviewed our internal processes, selected a strong technology partner in MyDataBoss and prepared our team for the changes commencing on 1 July 2026.
We are ready.
Will this affect timeframes?
In some matters, yes.
Where Customer Due Diligence or identity verification is required, we may need to complete those steps before certain legal work can progress.
The timing may depend on how quickly the required information is provided and whether any further checks are needed.
To avoid delay, we encourage clients to respond promptly to any request for information or identity verification. If you receive a verification request through My DataBoss, please complete it as soon as possible.
There may also be circumstances where a matter is more complex and further information is required. This may occur where there are company or trust structures, overseas parties, unusual transactions or higher-risk factors.
Our team will guide you through what is required.
Our commitment to clients
We understand that these changes may feel unfamiliar at first.
Our priority is to make the process as simple and efficient as possible while meeting our legal obligations.
The introduction of AML/CTF obligations does not change our commitment to providing clear, practical and client-focused legal advice. It does mean that, in some matters, we will need to ask for more information before we can proceed.
We appreciate your cooperation and patience as these new requirements come into effect.
Owen Hodge Lawyers is ready for 1 July 2026, and we are committed to helping our clients move through the process with clarity and confidence.
If you have any questions about how these changes may affect your matter, please contact our office on 02 9549 0700.