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 BGLid / FirmVerify, 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. BGLid / FirmVerify 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 “Identity Verification Request from DPM Financial Services”. 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.
How to Complete Your Identity Verification Check
Before you begin, please have your Australian passport or current Australian driver licence handy.
If you’re able to, we recommend completing the check on your mobile phone rather than a desktop computer, as the mobile process tends to be easier, particularly when taking photos of your identification and completing the camera verification.
Step 1
Click the “Verify Identity” link provided by DPM.
Step 2
A verification code will be sent to your email address. Enter this code into the verification check when prompted.
Step 3
You’ll be taken to “Your Consent Matters”, where you’ll be asked to provide consent for three areas.
The final option relates to your identification document being stored. You do not need to select this option if you would prefer your ID not to be stored.
Step 4
You’ll be asked to take a photo of your identification document:
- Australian passport: Take a photo of the photo/details page.
- Australian driver licence: Take a photo of the front and back of your licence.
Please ensure your ID is clearly visible, with good lighting and no glare. If you are completing the check on a desktop computer, you may be asked to scan a QR code with your mobile phone to take these photos. If your camera doesn’t open, check that your phone or browser has permission to access the camera.
Step 5
Your details will be automatically captured from your identification document and displayed within the application.
Please carefully check that all of your details have been captured correctly and match your identification document before continuing.
Step 6
You’ll then be asked to take a photo of your face. Follow the instructions on screen and make sure your face is clearly visible.
Step 7
Your photo will be compared with the photo on your identification document to verify your identity.
Step 8
Once your identity has been successfully matched, your verification check is complete. You will see this confirmation for submitting your identity verification with DPM and will also receive a confirmation email.
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.
Your information is securely managed through BGLid / FirmVerify, our identity verification partner. Frankie Financial Pty Ltd is BGL’s technology provider for the AML identity verification process, supporting BGL with the secure collection and verification of client identification information.
BGL’s systems also include security measures such as activity monitoring, audit logs and processes to help protect personal information and manage any potential data breaches.
BGL’s cloud solutions are ISO 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,
- If you’re prompted to allow BLG ID to access your camera, make sure you select “Allow”. Your phone or browser may be blocking camera access.
- If you previously selected “Don’t Allow”, you may need to go into your phone or browser settings and enable camera access.
- Close your browser completely and reopen the verification link.
- 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.
