Important Update: Changes to Client Verification from July 2026

Written by Jenni Anderson

From 1 July 2026, new Australian regulations will come into effect that require accounting and advisory firms—like ours—to apply stricter client identification and verification processes.

These changes are part of the Government’s anti-money laundering and counter-terrorism financing (AML/CTF) reforms and will impact how we work with you.

What this means for you

As part of these new requirements, you may notice some changes in the information we request from you—particularly if your situation is considered higher risk under the new framework.

This process is called Enhanced Customer Due Diligence (ECDD).

In practical terms, this may involve us requesting additional information such as:

  • Further identification documents

  • Details about the source of funds or wealth

  • Clarification around certain transactions or structures

  • Periodic updates to ensure your information remains current

For most clients, there will be minimal change. However, we are required to apply a risk-based approach, which means additional checks may be necessary in some circumstances.

When additional due diligence may apply

Enhanced due diligence is not applied to all clients—it is only required where certain risk factors are present.

Examples may include:

  • Complex company or trust structures

  • Transactions involving overseas jurisdictions

  • Situations where information provided is incomplete or inconsistent

  • Certain regulatory classifications (for example, politically exposed persons)

If your circumstances fall into one of these categories, we will guide you through what is required and why.

Our approach

We understand that providing additional information can feel unnecessary or time-consuming.

Our approach is to keep this process:

  • Simple – we will only request what is required

  • Transparent – we will explain why information is needed

  • Efficient – we aim to minimise disruption and duplication

These checks are part of our regulatory obligations and are designed to protect both you and our firm.

Why these changes are being introduced

The purpose of these reforms is to strengthen Australia’s financial system and reduce the risk of fraud, financial crime, and misuse of professional services.

By implementing these processes, we are helping to:

  • Protect your financial interests

  • Maintain the integrity of your structures and transactions

  • Ensure we can continue to act on your behalf

Preparing for July 2026

We are currently updating our systems and processes to meet these new requirements.

You may:

  • Receive requests to update or confirm your details

  • Be asked to provide additional documentation

  • Notice small changes in how we onboard or review engagements

We will provide clear communication at each stage so you know exactly what to expect.

If you receive any request you are unsure about, please stop and contact our team to verify it before providing any information.

All requests for client information or verification will only be sent through official Salt Financial Group communication channels. If you receive a request that appears unusual or does not come from us directly, we strongly recommend confirming it with our team.

Need help or have questions?

If you would like to understand how these changes may apply to you, please feel free to contact our team.

We are here to support you and make the process as straightforward as possible.

Jenni Anderson