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Visit the AUSTRAC website to receive the latest news and updates from the AML/CTF regulator.
Survey closing 21 November
AUSTRAC Survey on Source of Funds and Source of Wealth
AUSTRAC is developing a factsheet with scenarios to help clarify when a reporting entity under the AML/CTF regime (for example, a law practice that provides ‘designated services’) must collect or verify information about a customer’s source of funds or source of wealth. To assist with developing this factsheet, AUSTRAC is seeking your input on what information might be helpful in relation to conducting a source of funds or source of wealth check.
You can complete this short survey here. The survey will be open until 5 pm Friday 21 November.
Find out more about source of funds and source of wealth here.
Key dates and timelines
AUSTRAC regulatory expectations
View AUSTRAC's regulatory expectations here.
AUSTRAC education
AUSTRAC'S AML/CTF Essentials webinars
AUSTRAC has produced a series of complimentary YouTube webinars, including:
- Introduction to AUSTRAC,
- AML/CTF obligations,
- Money laundering, terrorism financing and proliferation financing risk, and
- Outsourcing.
AUSTRAC sector specific guidance and starter program kits
AUSTRAC has advised that, early in 2026, it will be publishing dedicated guidance for lawyers, which will include greater clarity on how the reforms will affect the legal profession, and examples of what compliance will look like in practice. This sector specific guidance will also include starter program kits, which should provide significant assistance to practices in relation to:
- conducting the required ML/TF risk assessments, and
- applying appropriate AML/CTF policies to your practice.
The Law Society of NSW will continue to work closely with AUSTRAC to try and ensure AUSTRAC’s guidance and resources are relevant to our profession and provide as much assistance as possible with respect to meeting the new obligations. We anticipate that, for many firms, particularly smaller practices, the starter kits will provide a compliant AML/CTF program, with minimal adjustment required.