AML/CTF Framework

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AML/CTF Framework

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)

 

Privacy Policy template for small practices with AML/CTF obligations 

Download here

Download this MS Word document and open it in the desktop version of MS Word for best viewing and editing results.

 

Fact sheet for clients: New obligations arising under the new Anti-Money Laundering and Counter-Terrorism Financing framework

Download here

An information sheet for clients has been developed to assist practitioners explain AML/CTF requirements.

Contact the AML/CTF Hotline

Professional Support Unit
(02) 9926 0249
amlctf@lawsociety.com.au
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