Law firms and legal practices providing certain professional services are among the Tranche 2 sectors brought into Australia’s AML/CTF regime.
You may be in scope where you provide designated professional services — for example assisting with the buying or selling of real estate, managing client money or assets, or helping set up companies or trusts.
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 legal professionals guidance.
A legal practice may be in scope where it provides designated services — for example assisting with buying or selling real estate, managing client money or assets, or helping set up companies or trusts. Whether you are a reporting entity depends on the specific services you provide; check AUSTRAC’s legal profession guidance and seek professional advice.
Lex-AML is being built to help legal practices prepare an AML/CTF program, run consistent customer due diligence, collect evidence, and keep a review-ready audit trail for each matter.
No. Lex-AML supports compliance workflows and record keeping. It does not provide legal advice, does not guarantee compliance, and does not replace professional judgement.
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.