AML/CTF Legislation
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AML/CTF Legislation
Past events
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New AUSTRAC Core Guidance
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New AUSTRAC Core Guidance on the Professional Services
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Future Law Compilation of the AML/CTF Act | AUSTRAC
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New AML/CTF Rules
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Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024
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Anti-Money Laundering and Counter-terrorism Financing Act 2006 (Cth)
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Federal Register of Legislation – Anti Money Laundering and Counter-Terrorism Financing Amendment Act 2024
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Legal professional privilege
The AML/CTF Act provides protections for the disclosure of information or documents that may be subject to legal professional privilege (LPP). AUSTRAC will not require reporting entities to submit any information that is subject to LPP.
Reporting entities must, however, submit a legal professional privilege form in lieu of the requested information. This form will be available on the AUSTRAC website at a later date.
Protecting your clients’ claim to Client Legal Privilege
The NSW Law Society has prepared ‘Protecting Your Clients’ Claim to Client Legal Privilege’ to assist solicitors navigate legal professional privilege.
Privacy
Legal practices that provide designated services must comply with the Privacy Act when handling personal information for AML/CTF purposes. This includes obligations relating to the collection, use and storage of personal information for customer due diligence, monitoring and record-keeping.
The Office of the Australian Information Commissioner (OAIC) has published guidance explaining how Privacy Act requirements apply to AML/CTF compliance, including practical steps for collecting, using and protecting personal information. This guidance is particularly relevant ahead of Tranche 2 obligations commencing from 1 July 2026.
Read more: Privacy guidance for reporting entities under the AML/CTF Act (OAIC)
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