Why you might be asked for ID
When you open an account, buy a house or do certain transactions with our reporting entities they need to know who you claim to be.
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Banks and other services providers have a legal obligation to verify your identity before they can provide services to you. This is part of their anti-money laundering and counter-terrorism financing (AML/CTF) obligations. It helps us to combat money laundering and terrorism financing
New laws mean more services need your ID
There are new laws reforming Australia’s AML/CTF regime. This is to make sure we enhance our ability to effectively deter, detect and disrupt money laundering.
From 1 July 2026, new entities will come under our regulation. This includes services recognised domestically and globally as high-risk for criminal exploitation. Such as certain designated services provided by:
- real estate professionals
- dealers in precious stones and metals
- lawyers
- conveyancers
- accountants
- trust and company service providers.
When you engage with one of these businesses to use their services, they may ask you for identification or questions about your circumstances. We call this customer identification and verification
What this means for you
These additional checks help protect our financial system and the community.
This includes when you:
- open an account with a financial institution such as a bank or credit union
- become a customer of a bullion dealer or stockbroker
- open a betting account.
From 1 July 2026 this also includes:
- engaging a real estate professional
- purchasing high-value metals or stones
- engaging professional service provides such as legal, accountancy or trust or company service providers.
These service providers have a legal obligation to collect information about you before they can provide services to you. They may also have obligations to collect other information about you to comply with anti-money laundering and counter-terrorism financing legislation.
ID you need to provide
The type and amount of ID you are asked for depends on the institution and the nature of your transaction. The business or organisation you’re dealing with will tell you what identification they’ll accept.
In some circumstances just one form of photographic identification (such as your driver’s licence) will be enough if it shows your:
- full name
- residential address
- date of birth.
Digital driver’s licences are also an acceptable form of identification.
If you’re a sole trader or business owner you will be asked for a range of other details, including business name and addresses and Australian Business Number (ABN).
I’ve been asked for more information
Banks and other service providers must monitor their customers’ transactions while engaging their services. This is part of managing their business’ risks related to money laundering and terrorism financing.
Service providers must ask customers for more information when they identify higher risks. This includes long-term customers.
The risks related to particular services, industries and jurisdictions are constantly changing. As a result, service providers must adapt their practices and the information they gather to manage these risks.
Your Privacy
The information you give these organisations is protected under the Privacy Act 1988.
The content on this website is general and is not legal advice. Before you make a decision or take a particular action based on the content on this website, you should check its accuracy, completeness, currency and relevance for your purposes. You may wish to seek independent professional advice.