Anti-Money Laundering & Counter-Terrorism Financing (AML/CTF)
Protecting Our Clients, Our Firm and the Community
At Freedom Legacy Planning, we are committed to providing professional, ethical and compliant estate planning services.
As part of Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) framework, businesses providing certain professional services may be required to verify the identity of clients and obtain information to help prevent money laundering, terrorism financing and other financial crimes.
We understand these requirements may be new to some clients. Our goal is to make the process as simple, efficient and respectful as possible.
What This Means for You
As part of establishing and maintaining our professional relationship, we may need to:
- Verify your identity and the identity of relevant individuals.
- Confirm information about any trusts, companies or other entities involved in your matter.
- Understand the purpose and nature of the services you require.
- Request additional information or supporting documents where required.
- Periodically review or update your information if required by law.
The information we request will depend on your individual circumstances, the services you require and our legal obligations.
Why We Need This Information
These requirements help protect individuals, businesses and the wider community by reducing the risk of professional services being used to facilitate financial crime.
By completing appropriate client due diligence, we can confirm who we are acting for, understand the nature of the engagement and meet our legal and professional responsibilities.
What You Can Expect From Us
We are committed to making this process straightforward and respectful.
We will protect your information
Your personal information will be handled securely and in accordance with our legal, professional and privacy obligations.
We will only request what is necessary
The documents and information we request will be appropriate to your circumstances and the services we are providing.
We will communicate clearly
If we require additional information, we will explain what is needed and, where appropriate, why it is required.
We will keep information up to date
Where necessary, we may ask you to confirm or update information during our ongoing professional relationship.
Your Role
To help us meet our legal obligations, we ask that you:
- Provide accurate and complete information when requested.
- Supply identification or supporting documentation promptly.
- Notify us if your personal details or relevant circumstances change.
Providing this information enables us to continue acting on your behalf.
In some circumstances, if we are unable to obtain the information required, we may not be able to commence or continue providing certain services.
Confidentiality and Privacy
We take the confidentiality and security of your information seriously.
Information collected as part of our AML/CTF obligations will be managed in accordance with applicable privacy laws and our Privacy Policy.
In certain circumstances, we may be legally required to provide information to government or regulatory authorities. Where required by law, we may also be prohibited from disclosing that such a report has been made.
Questions?
We appreciate that you may have questions about these requirements, particularly if you are asked to provide information or documents that have not previously been requested.
If you have any questions about our AML/CTF obligations or the information we require, please contact the Freedom Legacy Planning team. We are happy to assist.