From 1 July 2026, new federal legislation will require BDO, along with other professional services firms, to comply with Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws.
Here’s how we are responding to the requirements and what it means for our clients.
In line with the publication of the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill (2024), BDO has established a dedicated AML/CTF program to strengthen our approach to identifying and managing financial crime risks and to ensure we meet evolving regulatory requirements.
This includes updated policies and procedures, enhanced governance and oversight, and a technology-enabled platform to support client due diligence and risk assessment.
We are also investing in targeted training to equip our people with the knowledge and skills to operate responsibly and uphold the highest standards of professional conduct.
From 1 July 2026, when AML/CTF Tranche 2 Reforms come into effect, BDO will be required to carry out a number of checks, including:
If we need additional information, you will receive a BDO‑branded email from our AML partner, First AML, clearly outlining what’s required, why it's needed and how to provide it.
We understand that sharing information takes time, and that data privacy and confidentiality are critical. BDO is committed to protecting all confidential client, firm and personal information at all times.
BDO is committed to protecting the integrity of the services we provide and ensuring our firm cannot be used, even unknowingly, to facilitate criminal activity.
Every year, AUSTRAC estimates that money laundering costs Australia $68 billion. These costs are associated with drug trafficking, cybercrime, human exploitation, and organised crime groups operating both here and overseas.
Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act and strong AML controls help stop criminal networks from using professional services to move or hide illicit money.
Every identity check and risk assessment contributes to protecting our clients, our industry and our community.
If you have any questions or require assistance, please contact your BDO representative.