Conveyancers and settlement service providers are among the professions brought into the AML/CTF regime under Tranche 2.
You may be in scope where you assist clients with the transfer of real estate and related settlement services.
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.
For authoritative sector guidance, see AUSTRAC’s conveyancers guidance.
Conveyancers and settlement service providers may be in scope where they assist clients with the transfer of real estate and related settlement services. Scope depends on the services you provide; check AUSTRAC’s conveyancer guidance and seek professional advice.
Lex-AML is being built to help you set up an AML/CTF program suited to settlement work, verify and risk-assess clients consistently before settlement, and keep complete, review-ready records for every transaction.
Clients complete a guided onboarding form in the Customer Portal and upload supporting evidence. They only ever see their own submission, in plain language.
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 to see the current Lex-AML preview, discuss your sector workflow and understand how the product is being developed.