Anti-Money Laundering & Counter-Terrorism Financing (AML/CTF)

Varion is committed to playing its part in preventing money laundering, terrorism financing and other serious financial crime.

Under Australia's Anti-Money Laundering and Counter-Terrorism Financing Act 2006, accounting and advisory firms that provide certain regulated services are now required to collect and verify client information before that work can begin. These obligations came into effect on 1 July 2026 as part of the AML/CTF "Tranche 2" reforms, and apply across the accounting, legal and real estate sectors. For a plain-English overview, see AUSTRAC's Customer Facing Poster.

Why we may need to ask for information

Where we're providing a service covered by these obligations, we may need to:

• Verify your identity, and the identity of anyone connected to your matter;
• Understand the purpose and nature of a transaction or engagement;
• Identify the individuals who ultimately own or control a company, trust or other entity;
• Confirm the source of funds or source of wealth involved in a transaction;
• Check that the information we hold about you remains current; and
• Request further supporting documentation where the law requires it.

This isn't about singling anyone out — it's a standard legal requirement designed to protect clients, businesses and the wider community from financial crime.

Which services this applies to

Not every service Varion provides is affected. General tax return preparation, standard bookkeeping and routine advisory work are not, on their own, subject to these requirements. AML/CTF obligations are more likely to apply where we're assisting with:

• The formation, restructuring or transfer of companies, trusts or other entities;
• The sale or purchase of a business or business assets;
• Transactions involving the management of client money or other assets; and
• Other services defined as "designated services" under the AML/CTF Act.

If your matter is affected, your Varion adviser will let you know what's required and why.

If information can't be provided

Where the law requires us to complete identity and due diligence checks before we can act, we may be unable to begin, continue, or finalise work on a matter until that information is provided.

Our commitment

We know these checks can feel unfamiliar, and sometimes inconvenient. We'll always aim to make the process as simple and secure as possible while meeting our obligations under the law. If you have any questions about what's required for your matter, please get in touch with your Varion adviser.

For general information about Australia's AML/CTF framework, visit the AUSTRAC website.