Guidance
Customer Due Diligence (CDD)
Identifying + verifying customers + beneficial owners.
In plain English
This guidance explains how to identify and verify your customers and beneficial owners.
Austrac requires businesses to follow this guidance. It covers identifying customers, verifying their identity, and understanding beneficial owners. This helps prevent serious crime. The guidance is available on the Austrac website.
Why it matters
Knowing your customers and who really owns them is vital. It helps protect your business from financial crime risks. Failing to do so can impact your reputation and operations.
AI-assisted summary, grounded in the source link below. Generated 2026-05-23 via gemma3:12b.
Issuing regulator
AUSTRAC →Topics
Source: https://www.austrac.gov.au/business/how-comply-and-report-guidance-and-resources/customer-identification-and-verification. Rules Mate indexes + summarises; always verify against the regulator's live publication.