Where we provide legal services that constitute designated services under the AML/CTF Act, we may be required to collect, verify and retain certain information about our clients and, in some cases, related parties.
These requirements may apply to both new and existing clients.
As part of this process, we may undertake customer due diligence (CDD), sometimes referred to as know-your-client (KYC) verification, to confirm a client’s identity and understand the nature and purpose of the legal services we are providing.
If we are unable to obtain the information required to comply with our AML/CTF obligations, we may be unable to commence acting or continue acting in a matter.
Which services are affected?
Not all legal services are subject to the AML/CTF regime.
At the commencement of each matter, we will assess whether the services we are providing are designated services under the AML/CTF Act, and therefore whether identification and verification requirements apply.
Further information about the AML/CTF regime can be found on the AUSTRAC website.
Information we may collect
Depending on the nature of the legal services provided, we may be required to collect and verify information such as:
- your full name, date of birth and contact details
- documents used to verify your identity (such as a passport or driver licence)
- information about the nature and purpose of the legal services we provide
- details of beneficial owners, controllers or related parties, where applicable.
We will only collect personal information that is reasonably necessary to comply with our legal obligations and to provide our legal services.
How we use and disclose information
Personal information collected for AML/CTF purposes may be used to:
- verify a client’s identity
- assess the risk of money laundering or terrorism financing
- comply with our obligations under the AML/CTF Act and associated rules.
In certain circumstances, we may be required to report matters or disclose information to AUSTRAC or other regulatory authorities as required or authorised by law.
We do not otherwise disclose personal information collected for AML/CTF purposes unless required or authorised to do so.
Privacy and data protection
Our handling of personal information is governed by the Privacy Act 1988 (Cth) and our Privacy Policy.
We take reasonable steps to ensure that personal information is stored securely and protected from misuse, loss or unauthorised access.
In some cases, we are required by law to retain records collected for AML/CTF purposes for a minimum period (generally seven years).
Legal professional privilege
The AML/CTF regime operates alongside, and does not override, our fundamental legal and ethical obligations to our clients.
Nothing in the AML/CTF legislation requires marshalls+dent+wilmoth lawyers to breach legal professional privilege, and privileged communications remain protected.
Questions
If you have any questions about why we request identification information, how it is used, or how it is protected, please contact us or refer to our Privacy Policy.