Australia’s anti-money laundering and counter-terrorism financing laws are changing, and many businesses will soon need to take a more structured approach to AML/CTF compliance.
MGI South Qld provides practical AML audit, anti money laundering consulting and AML compliance support for businesses that need clear guidance without unnecessary complexity. We help you understand what applies to your business, identify gaps in your current processes, and take sensible steps to strengthen your AML/CTF framework.
Whether you are preparing for new obligations, reviewing an existing AML/CTF program, or need an independent AML audit, our team can help you move forward with confidence.
Practical AML compliance support for Australian businesses
AML/CTF compliance can feel complex, especially for businesses that have not previously been regulated under Australia’s AML/CTF regime.
Our role is to make the process clearer and more manageable. We work with business owners, directors and management teams to assess what is required, what is already in place, and what needs to be improved. Our advice is practical, proportionate and designed to fit the way your business actually operates. We can assist with:
- AML/CTF compliance reviews
- Independent AML audits and evaluations
- AML/CTF risk assessments
- AML policy and procedure development
- Customer due diligence and KYC process reviews
- Governance, training and reporting support
- Practical action plans to address gaps
Who may need AML consulting?
AML/CTF obligations apply to businesses that provide designated services under Australia’s anti-money laundering and counter-terrorism financing laws. While the AML/CTF regime has traditionally applied to sectors such as financial services, gambling, remittance, bullion and digital currency exchange, Australia’s AML/CTF reforms are expanding the regime to a much broader group of businesses.
From 1 July 2026, new AML/CTF obligations will apply to many designated services provided by:
- Accountants
- Lawyers
- Financial Advisors
- Conveyancers
- Real Estate Professionals
- Hospitality businesses
- Trust and company service providers
- Dealers in precious metals, stones and products
- Certain virtual asset service providers
You may benefit from AML consulting if your business needs to understand whether the regime applies, what obligations may need to be met, and how to prepare in a practical and proportionate way.
How we can help with AML audit and compliance
MGI South Qld provides anti money laundering audit and AML consulting support tailored to your business, your risk profile and your stage of compliance readiness.
AML/CTF program reviews
If you already have an AML/CTF program in place, we can review whether it remains appropriate for your business.
This may include reviewing your policies, procedures, customer checks, staff responsibilities, risk assessment processes, record keeping and internal controls.
The aim is to identify whether your program is practical, up to date and aligned with your current obligations.
Independent AML audit or evaluation
An independent AML audit provides an objective review of your AML/CTF framework and how effectively it is operating.
We can assess your AML/CTF program, review sample files, test key processes and provide a written report that outlines findings and practical recommendations.
This can help your business demonstrate that it is actively reviewing and improving its AML compliance processes.
AML policy and procedure development
We can help you develop or improve AML/CTF policies and procedures that are clear, practical and usable by your team.
This may include procedures for customer onboarding, customer due diligence, enhanced due diligence, record keeping, escalation of concerns, staff responsibilities and internal reporting.
Customer due diligence and KYC reviews
Customer due diligence, often referred to as KYC or Know Your Customer, is a core part of AML compliance.
We can review your customer identification and verification processes to assess whether they are appropriate, documented and consistently followed.
Where higher-risk customers or transactions are identified, we can also help you consider whether enhanced due diligence processes are required.
Staff training and internal responsibilities
AML compliance is not just a policy document. Your team needs to understand what to look for, what to record and when to escalate concerns.
We can help you clarify roles and responsibilities, support staff awareness and develop practical internal processes so AML compliance becomes part of day-to-day operations.
Practical action plans
If we identify gaps, we can help you prioritise what to do next. This may include updating policies, improving customer checks, clarifying staff responsibilities, strengthening record keeping or preparing for a future independent review. Our recommendations are designed to be practical, staged and realistic for your business.Why choose MGI South Qld for AML audit and consulting?
MGI South Qld combines audit, compliance and business advisory experience with practical support for Australian businesses.
We understand that AML/CTF frameworks need to work in the real world. For many SMEs and professional service firms, the challenge is not just understanding the rules. It is knowing how to apply them in a way that is proportionate, workable and properly documented.
Businesses choose MGI South Qld because we provide:
- Practical advice without unnecessary complexity
- Clear reporting and recommendations
- Support tailored to your business and risk profile
- Audit and assurance experience
- Business advisory insight
- Local Brisbane-based support
Speak with an AML audit and compliance advisor
If your business needs help understanding or improving its AML compliance position, MGI South Qld can provide practical support.
Speak with our team about an anti money laundering audit, AML/CTF program review or tailored anti money laundering consulting support.
Frequently Asked Questions About An AML Audit & Compliance
An AML audit is an independent review of a business’s anti-money laundering and counter-terrorism financing framework. It assesses whether the organisation has appropriate policies, procedures, controls, risk assessment processes and records in place to manage AML/CTF compliance.
Businesses that are regulated under Australia’s AML/CTF laws may need an independent review or evaluation of their AML/CTF program. This can include businesses in financial services, gambling, remittance, bullion, digital assets and other regulated sectors, as well as newly regulated businesses under Australia’s AML/CTF reforms.
AML consulting helps businesses understand, develop and improve their anti-money laundering and counter-terrorism financing compliance framework. This may include AML/CTF risk assessments, policy development, customer due diligence reviews, staff training, governance support and practical action planning.
AML stands for anti-money laundering. AML/CTF refers to anti-money laundering and counter-terrorism financing. In Australia, AML/CTF obligations are designed to help businesses identify, manage and report risks relating to money laundering, terrorism financing and other financial crime risks.
AML compliance may involve assessing money laundering and terrorism financing risks, developing an AML/CTF program, completing customer due diligence, keeping appropriate records, training staff, monitoring for unusual activity and reporting suspicious matters where required.
From 1 July 2026, Australia’s expanded AML/CTF regime will apply to many newly regulated businesses providing designated services, including accountants, lawyers, conveyancers, real estate professionals, trust and company service providers, and dealers in precious metals, stones and products.
An AML/CTF risk assessment considers where money laundering, terrorism financing or other financial crime risks may arise in your business. This may include reviewing your customers, services, delivery channels, locations, transactions and internal controls.
The review frequency depends on your business, risk profile, regulatory obligations and any changes to your operations. However, AML/CTF programs should be reviewed regularly and updated when your risks, services, customers, systems or legislation change.
Some small businesses may be captured by AML/CTF obligations if they provide designated services. AML compliance support can help smaller businesses understand what applies and develop a proportionate framework that suits their size, services and risk profile.
Yes. MGI South Qld can help your business understand how the AML/CTF reforms may apply, assess your current compliance position, identify gaps and develop practical steps to prepare.
