West Carr & Harvey clients and Australia’s new anti-money laundering requirements

What has changed

As part of Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML / CTF) requirements, West Carr & Harvey may be required to complete identity verification checks and obtain supporting documents before providing certain services.

These include the following:
• Establishing or restructuring (including changing Directors, Shareholders etc.) a company, trust or other entity.
• Requesting West Carr & Harvey Directors or staff to act as a nominee director, trustee, shareholder or providing registered office services.
• Buying, selling or transferring a business or business assets.
• Buying or selling real property through a structure or entity.
• Assisting with capital injections, business acquisitions, mergers or ownership changes.
• Establishing self-managed superannuation funds (SMSFs) or making significant changes to ownership or control arrangements.
• Engaging us in matters involving higher-risk jurisdictions, complex ownership structures or significant cash transactions.

Requests for information

Where an AML / CTF check is required, you may receive a request through our secure AML platform, First AML – this will look like this:

First AML

You will receive an email invitation from First AML containing instructions on how to securely provide the required information online.

First AML is the secure platform West Carr & Harvey uses to collect and verify information for AML / CTF purposes.

IMPORTANT NOTE: We encourage you to complete these requests promptly, as delays may impact transaction, lodgment or engagement timelines.

What we are obligated to obtain to proceed

We may ask you to:
• Verify your identity.
• Provide identification documents and supporting information.
• Confirm details regarding relevant individuals, entities or beneficial owners, including directors, trustees, shareholders, appointors, beneficiaries, controllers or other persons who own or control the relevant structure.
• Provide information that assists us in assessing the nature and purpose of the engagement and any associated AML / CTF risks.

These requirements may apply even where you have been a client of West Carr & Harvey for many years and occasionally, information may need to be refreshed where circumstances change.

Using the information

The information collected is used for AML / CTF compliance and related engagement purposes.

IMPORTANT NOTE: Where required information is not provided, West Carr & Harvey may be unable to commence, continue or complete the relevant work until our AML / CTF obligations have been satisfied.

If you have any questions regarding the information requested, please contact us.