30/07/2026
Have you thought about how you're organising your files for matters with the new mandatory client identification requirements?
One of my clients asked me to help set something up recently.
I've been doing some training on the new AML/CTF obligations myself, as a big part of what I do involves opening files and onboarding new clients that fall under the designated services, so I want to make sure I understand the requirements properly.
What did we put in place? Tagging files and setting up designated AML folders.
If you're ever audited, you want every relevant matter easily available. Check whether your practice management system lets you tag or categorise files as well as arranging for a dedicated place inside each file for everything compliance related.
Neither of these is complicated. But when you're running a practice on your own, this kind of set up just doesn't happen unless someone does it for you.
dwva.com.au
