AUSTRAC Compliance: Why VHQ May Ask for Additional Information During Onboarding

Why VHQ May Ask for Additional Information During Onboarding

At Virtual Headquarters, we’ve always believed that setting up a virtual business address should be simple, professional and hassle-free.

From 1 July 2026, new Australian regulations will require businesses like VHQ to collect some additional information when onboarding customers. While this may sound like a significant change, for most customers very little will be different.

The purpose of these changes is simple: to help businesses better understand who they are providing services to and reduce the risk of fraud, identity crime and other forms of financial misconduct.

What Is Changing?

As part of our onboarding process, we may ask for additional information about you, your business and, in some cases, the individuals who own or control the business.

This may include:

• Identity verification
• Business ownership information
• Director details
• Beneficial Owner details
• Additional information about the nature of your business

A Beneficial Owner is generally someone who owns more than 25% of a business or otherwise exercises control over it.

Why Is VHQ asking for this information?

Like many Australian businesses, VHQ is required to comply with Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation.

These regulations are overseen by AUSTRAC, Australia’s financial crime regulator, and are designed to help prevent the misuse of legitimate business services. The vast majority of our customers are genuine business owners. These requirements simply help us verify who we are providing services to and maintain a trusted platform for all customers.

What Can I Expect During Onboarding?

Many of the checks we perform today are already part of our onboarding process, including verifying business details, identity information and company information.

The new requirements simply build on these existing processes. In most cases, customers will only be asked to provide a small amount of additional information during onboarding.

What If I Am Applying On Behalf Of A Business?

We understand that many applications are completed by Office Managers, Executive Assistants, Operations Managers and other authorised representatives.

Where this occurs, we may still need information relating to the Directors or Beneficial Owners of the business.

Our team will work with you to obtain any required information and, where appropriate, may contact those individuals directly to complete the verification process.

A Practical, Risk-Based Approach

At VHQ, we understand that every business is different. A newly established business may not yet have a website. A Director may be overseas. An Operations Manager may be completing the application on behalf of the business.

Rather than relying on a single piece of information, we take a practical, risk-based approach and assess the overall picture when reviewing applications. This allows us to meet our compliance obligations while continuing to provide a smooth onboarding experience for our customers.

Protecting Your Information

Protecting customer information is extremely important to us. Information collected as part of our verification process is stored securely within our systems, accessed only by authorised personnel and used solely for legitimate business and compliance purposes.

What won’t change

At VHQ, our mission is simple: to help businesses across Australia maintain a professional image, reduce overheads and focus on growth.

While some aspects of onboarding are evolving, our commitment to providing a simple, trusted and customer-focused experience remains exactly the same.

Whether you’re launching a new venture, growing an existing business or managing a national operation, we’re here to support you every step of the way.

Frequently Asked Questions

Is VHQ AUSTRAC registered?

Yes. VHQ is enrolled with AUSTRAC and has implemented systems and processes designed to meet its obligations under Australia’s AML/CTF legislation.

Is VHQ AUSTRAC compliant?

VHQ has implemented customer verification, onboarding and risk management processes designed to meet the requirements of Australia’s AML/CTF framework. As regulations continue to evolve, we will continue to adapt our processes accordingly.

Why do you need my ID?

Australian regulations now require businesses like VHQ to verify the identity of their customers and understand who owns or controls the businesses using their services.

Why do you need details of Directors or Beneficial Owners?

The regulations require us to understand who ultimately owns or controls a business. In some cases, this means we may need information relating to Directors or Beneficial Owners in addition to the person completing the application.

Does this mean I’ve done something wrong?

Not at all. These requirements apply to all customers and are now part of standard onboarding and compliance processes across many Australian industries.

Is my information secure?

Yes. Information collected as part of the verification process is stored securely within our systems and used only for legitimate business and compliance purposes.

Will this slow down my onboarding?

Our goal is to keep the process as simple and efficient as possible. Most customers will only need to complete a small number of additional verification steps during onboarding.

Need Help?

If you have any questions about our verification process or the information we require, our team is here to help. Call us on 1300 885 830 or contact us online and we’ll happily talk you through the process.