AML/CTF Compliance for Lawyers & Conveyancers

AML Smart Guard provides AML/CTF compliance for lawyers and conveyancers, covering matter-level risk profiling, identity verification, real-time transaction monitoring, and staff training, purpose-built for the designated services legal practices deliver when they manage client funds, structure transactions, or handle company formation.

What AUSTRAC expects from legal practices

From 1 July 2026, AUSTRAC treats law firms and conveyancing practices as reporting entities whenever they manage client funds, structure transactions, or form companies on a client’s behalf. Five obligations apply:

Risk assessment
A documented AML/CTF program
Customer due diligence
Ongoing monitoring
Timely reporting.

What plan does my practice need?

Practice profile	Recommended plan	Why
Sole conveyancer or small practice	Flex/Bespoke	Pay-as-you-go screening matched to transaction volume
Mid-size firm handling regular settlements	Standard or Scaled	Fixed screening allowance, training packs included
Larger firm with multiple practice areas	Enterprise	Dedicated account manager, unlimited users

Frequently asked questions

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What designated services bring a law firm into scope?

Managing client money, structuring transactions or entities on a client’s behalf, and company or trust formation are the services most likely to trigger Tranche 2 obligations for a legal practice.

What does CDD timing look like for a conveyancing matter?

Initial CDD will need to be completed before providing a designated service, although specific delayed CDD rules can apply to certain conveyancing matters. Customer information and risk should then be kept up to date where relevant throughout the matter.

How does AML Smart Guard fit into our existing processes?

AML Smart Guard is designed to support existing client and matter workflows, bringing AML/CTF checks, monitoring and records into a central platform. Speak to our team about your firm’s systems and workflow requirements.

Do barristers need to comply, or only solicitors and firms?

AML/CTF obligations depend on the services being provided, rather than professional title alone. Barristers should consider whether any services they provide fall within AUSTRAC’s professional designated services.

What about confidential or legally privileged matters?

AML/CTF obligations continue to apply to designated services, but specific protections and processes apply to information subject to legal professional privilege. Legal practices should ensure their AML/CTF processes appropriately identify and manage privileged information.