Legal software category
AML Compliance software for Australian law firms
Anti-money laundering and KYC/CDD compliance tools for AUSTRAC Tranche 2 obligations.
Compare aml compliance platforms
Compare each product’s published capabilities, pricing approach, integrations and intended firm size. Build a shortlist before arranging demonstrations and checking contractual, security and data-migration terms.
AML Compliance questions
What are AML compliance requirements for Australian law firms?
From 1 July 2026, an Australian legal practice that provides a designated service must have an AML/CTF program in place before providing that service and meet the obligations that apply to its activities. Those obligations can include customer due diligence, risk assessment, record-keeping, ongoing monitoring and AUSTRAC reporting. Not every legal service is designated, so practices should check AUSTRAC's legal profession guidance for their circumstances.
How can AML software help law firms comply with AUSTRAC requirements?
AML software may support identity verification, risk assessment, ongoing monitoring, record-keeping and reporting workflows. Features and integrations vary, and software alone does not make a practice compliant. A practice should confirm its obligations with AUSTRAC and verify that its policies, controls and chosen tools fit the designated services it provides.
When do expanded AML/CTF obligations commence for Australian legal practices?
The expanded AML/CTF obligations commence for newly regulated professional services on 1 July 2026. A legal practice must have an AML/CTF program in place before it begins providing a designated service on or after that date. Whether the regime applies depends on the services the practice provides, so firms should use AUSTRAC's legal profession guidance to assess their position.