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admin@accountantsoffice.com.au
Please fill out the form below and one of our friendly experts with be in touch.
Australia's Anti Money Laundering (AML)/
Counter-Terrorism Financing reforms (CTF)
Accountants like many businesses and professionals will now face new client due diligence and verification obligations.
The Government has placed severe pressure on professionals like Accountants to search and critique their Clients and nature of the work being done.
The Accountant must report any issues or face the penalty for failing to report.
This has created a headache as a survey has to be completed on each Client and in cases evidence and identification BEFORE COMMENCING WORK.
These obligations are mandatory. Failure to comply can result in significant penalties for the Accounting Practice and the Accountant. Hitting us twice.
We appreciate that these additional requirements may seem irrelevant, inconvenient and time-consuming. However, they are legal obligations that we must satisfy before we can commence or continue providing services to each client. This will cause serious delays before we start your work or task.
We ask that you be patient and understanding as we go through this task to verify “you are not dealing in cash crimes or a terrorist threat to Australia”.