Published Monday, 29th June 2026
As part of our ongoing compliance obligations under the Australian Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation, Factor1 Group is required to maintain up-to-date client identification and verification records.
This means that if there are changes to your business or ownership structure, we may be required to obtain updated identification documents and conduct additional verification checks.
Examples of changes that may trigger re-verification include:
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Appointment or resignation of directors
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Changes to shareholders or beneficial owners
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Changes to trustees, beneficiaries, appointors, or controllers of trusts
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Changes to authorised representatives
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Business restructures or ownership transfers
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Changes to entity type or control arrangements
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Significant changes to the nature of business activities
Where applicable, our team may request updated documentation, including identification documents, company extracts, trust deeds, organisational charts, or source of funds information.
These requirements form part of our legal obligations and assist in protecting both our clients and our firm from fraud, identity misuse, and financial crime risks.
We kindly ask that you notify us promptly of any material changes to your structure or ownership arrangements so we can ensure your records remain compliant and up to date.
If you have any questions regarding these obligations, please contact our office.
Thank you for your cooperation and continued support.
Kind regards,
Factor1 Group