Prepare your practice with compliance with new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation

Legal practices that provide a designated service (defined in the new AML/CTF Act) will become ‘reporting entities’ to AUSTRAC on 31 March 2026 and have new AML/CTF obligations starting 1 July 2026. 

Key obligations for reporting entities include:

• Enrolling with AUSTRAC
• Conducting customer due diligence 
• Developing and maintaining an AML Program 
• Reporting to AUSTRAC 
• Record keeping
• Appointing an AML/CTF compliance officer 

The Law Society is committed to assisting practitioners navigate and be prepared for the changes to Australia’s AML/CTF legislation and has recreated a suite of complimentary resources to assist the profession. 

The Law Society’s Professional Support Unit (PSU) provides free and confidential guidance to all solicitors regarding their AML/CTF obligations.

Enquiries regarding AML/CTF can be made to PSU by telephone, email, or in person. Please contact amlctf@lawsociety.com.au or (02) 9926 0249.