What you need to know
This guide outlines what’s changing, why these changes are being introduced, and the simple steps you can take to help ensure a smooth and seamless experience.
From 1 July 2026, DPM has a legal obligation to verify the identity of our clients before certain services can be provided. These requirements are stipulated by AUSTRAC (the Australian Transaction Reports and Analysis Centre), Australia’s Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) regulator.
These additional checks help protect our financial system and the community.
This includes when you:
- engage professional service provides such as conveyancing, legal, accountancy or trust or company service providers.
- 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
- engage a real estate professional
- purchase high-value metals or stones
These service providers have a legal obligation to collect information about you before they can provide services to you.
What is Anti Money Laundering (AML)?
It means the steps financial institutions and businesses take to stop illegal money from being used or hidden in the financial system.
What is Counter-Terrorism Financing (CTF)?
The laws, regulations, and investigative measures used to detect, deter, and disrupt the financial networks that support terrorist organisations or extremist activities.
Why is AUSTRAC regulating firms like DPM?
Australia is updating its laws to meet international AML/CTF standards set by the Financial Action Task Force (FATF is a global organisation that creates international standards for AML and CTF) and avoid falling behind other countries.
This is applicable to all professional services firms across whole of Australia and brings us in line with the banking / lending institutions.
Learn more about AUSTRAC regulations here
What the process will look like for you
In practical terms, this means you may notice some additional and duplicated steps when we onboard you as a client, establish a new entity, or provide certain services. These may include requests for identification (such as photo ID), completion of a short form, and, where required, follow-up questions to clarify information.
These requirements form part of our obligations under Australian law and apply consistently across all clients. They’re regulatory, not discretionary. Our team will work with you to make the process as straightforward as possible.
How such checks will be requested
As part of our identity verification requirements, your check will be completed through Ignition, our trusted identity verification partner.
You’ll receive a digital request from DPM via email, which will allow you to securely upload your identification and any other documents requested. Ignition / Comply Cube will then remotely verify the identity documents you provide as part of the verification process.
The email is sent from DPM Correspondence with the subject line “DPM Action required: Complete your identity verification”. The email will provide a link and guide you through the verification process step by step
The verification process is quick, straightforward and secure, and we appreciate you taking the time to complete this important requirement.
If you experience any difficulties completing the digital verification, or if digital verification isn’t suitable for you, please speak with your DPM Consultant to discuss alternative options.
Completing Your Identity Verification Check
How we ensure your information remains private and confidential
The collected identity and other related documents will be securely collected and stored to meet our regulatory obligations in order to deliver the services you have requested.
We comply with applicable privacy laws when handling our clients’ private and sensitive information, and we don’t use it for any other purpose.
We understand that your identification documents contain sensitive personal information, and we take the security and privacy of your information seriously.
We use Ignition to manage our client identity verification process, with verification checks performed by ComplyCube, Ignition’s identity verification provider.
Identity documents and, where required, biometric information are collected and processed by ComplyCube. This information is encrypted in transit and at rest. Ignition stores verification outcomes and status for our records; raw identity documents and biometric information are not stored within Ignition.
Ignition has undergone a SOC 2 Type 2 audit and undertakes annual penetration testing. ComplyCube is ISO/IEC 27001 certified, an internationally recognised standard for information security management.
We only use your information for the purposes of completing your identity verification and meeting our regulatory obligations.
We’re here to help
We understand the process can be a little frustrating when the technology isn’t cooperating, so we’d like to help make it as easy as possible.
A few things you can try first:
- We recommend completing the check on your mobile phone rather than a desktop computer,
- Make sure you’re using an up-to-date version of Safari or Chrome.
- Try switching between Wi-Fi and mobile data.
- If possible, try restarting your phone and accessing the link again.
- When taking your identification photos, it can also help to be somewhere with good lighting and minimal glare, and make sure the document is clearly visible within the frame.
- If you’re using a desktop and the QR code isn’t working, try scanning it with your phone’s camera and make sure your phone’s browser has permission to access the camera.
If you’re still having trouble, please don’t worry. We’re very happy to arrange either a video call or an in-person meeting and step you through the verification process. We want to make this as straightforward as possible for you.
If you have any questions about our new identity verification process, please reach out to your DPM consultant or call us on 1800 376 376.
The information contained in this article is general in nature and does not take into account your personal objectives, financial situation or needs. Before acting on this information, you should carefully consider whether it is appropriate for your circumstances and seek professional advice.
