Important regulatory changes that will affect how we conduct business from 1 July 2026.
The Australian Government is expanding its Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) obligations to cover a broader range of professional services. These changes introduce mandatory compliance requirements for all accounting, legal, and property-related services across Australia.
While the terminology may seem technical, these are strict, industry-wide legal obligations. As a result, they will change the compliance procedures we must follow before and during our engagement with you.
What this means for you
If you engage us for transactions, business structuring, or certain advisory services, we are now required by law to implement additional verification processes, including but not limited to:
- Mandatory identification requirements: Collection and verification of up-to-date identification for individuals, company directors, and beneficial owners.
- Source of funds and wealth verification: For certain matters, we will be required to ask standard questions and obtain supporting documentation regarding the origin of funds.
- Compulsory ongoing verification: We must periodically review and update your information to ensure it remains accurate, including asking questions about significant transactions as part of your tax compliance.
Please note that these requirements apply across the entire accounting and advisory industry—they are not specific to our firm.
Our approach
We have enhanced our internal systems and onboarding processes to meet these obligations efficiently while maintaining the highest standards of data security. Our aim is to minimise disruption while ensuring full compliance with the law.
Update to SMS communications
We would also like to inform you of an upcoming change to SMS communications in Australia.
From 1 July 2026, all SMS sender names must be registered on the SMS Sender ID Register. Like many businesses, we use a sender name rather than a phone number when messaging you. Any text you receive from PJA Accountants will come from “PJAAdvisors”.
Under the new rules, any unregistered sender name will appear as “Unverified.” If you receive a message marked “Unverified” claiming to be from us, it should be treated with caution as it may be fraudulent.
These measures are designed to reduce scams, where cybercriminals impersonate trusted organisations using fake sender names. We appreciate your understanding and cooperation as we implement these changes.
If you have any questions, please feel free to contact our office.
