AML compliance lawyers Australia 2026
AML Compliance for Lawyers and Law Firms: Your Tranche 2 Obligations
Law firms become exposed when they move beyond advice and help execute transactions, hold funds, or create structures.
Are you affected?
If your law firm handles settlement funds, forms companies or trusts, assists with financing, or holds client money beyond professional fees, you may need an AML/CTF program before 1 July 2026.
In scope
- Conveyancing and settlement funds
- Setting up trusts or companies for clients
- Acting as trustee or holding funds in trust
- Assisting with equity or debt financing
- Creating or operating a body corporate
- Providing registered office services
Out of scope
- Litigation advice and court appearances
- Barristers on instructions from solicitors
- Pure legal advice not advancing a transaction
- Trust accounts for professional fees only
- Advocacy and courtroom work
- Standalone document review
Your obligations
- Enrol with AUSTRAC when enrolment opens on 31 March 2026
- Build an AML/CTF program tailored to your services
- Implement customer due diligence procedures
- Train staff on red flags, risk, and process
- Prepare for reporting and annual compliance obligations
The risk of non-compliance
AUSTRAC can publish enforcement action. That creates operational, reputational, and referral damage beyond the financial penalty headline.
How we help
We package the work into a fixed-scope build so your team is not trying to assemble obligations from scattered guidance, starter kits, and half-finished notes.
Do law firms need an AML program?
Law firms that provide designated transactional services should expect to enrol with AUSTRAC and implement an AML/CTF program.
Does legal advice alone trigger the rules?
Pure legal advice is not the same as helping complete a designated transaction. The transaction support matters.
What if our firm only does conveyancing?
Conveyancing is one of the clearest areas of Tranche 2 exposure and should be treated as high priority.
Start your program
Get a done-for-you AML/CTF build tailored to lawyers.
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