Australia’s AML/CTF regime now reaches more professions. Here’s a plain-English view of the core obligations and a practical checklist to work through.
Enrol with AUSTRAC if you provide designated services.
Maintain a risk-based AML/CTF program.
Identify and verify customers appropriately.
Monitor on a risk-based, proportionate basis.
Review customers and follow up when information changes.
Keep evidence, notes and decisions organised for later review.
Appoint a person responsible for AML/CTF oversight.
Make sure personnel are trained and competent.
This is a general overview, not a definitive statement of your obligations. For authoritative guidance, see AUSTRAC.
Lex-AML gives you one place to prepare your AML/CTF program, run customer due diligence consistently, collect evidence, schedule reviews and follow-up tasks, and keep decision records and a complete audit trail. It supports your compliance work — it doesn’t replace your judgement.
On scope: Whether your business is a reporting entity depends on the designated services you provide — not on having an ABN or being based in Australia. Check AUSTRAC’s sector guidance, and seek professional advice for your situation.
Lex-AML supports compliance workflows and record keeping. It does not provide legal advice, does not guarantee compliance, and does not replace professional judgement or advice from a qualified AML/CTF adviser or legal professional.
Book a demo and we’ll talk through readiness for your sector and show how Lex-AML supports each step.