This article was written by Grace Blake, Solicitor at W & G Lawyers. For further information about Grace Blake’s professional background, legal experience, and areas of practice, please click on her name to view her full profile.
W & G Lawyers recently attended the InfoTrack Ready-Set-Go AML/CTF Roadshow in Brisbane, a national workshop designed to help legal professionals prepare for upcoming changes to Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws. These reforms will expand existing compliance obligations to a broader range of professional services, including law firms.
While these changes primarily affect how legal practices operate behind the scenes, clients will notice some new procedures when engaging our services from 1 July 2026. This article explains what AML/CTF laws are, why they now apply to law firms, and exactly what to expect when working with us.
What are AML/CTF laws?
Anti-Money Laundering and Counter-Terrorism Financing laws are designed to prevent criminals from using legitimate businesses and financial systems to disguise the origins of illegally obtained money or to fund unlawful activities.
Money laundering typically involves processing the proceeds of crime through financial transactions to make the money appear legitimate. Counter-terrorism financing laws aim to detect and prevent funds from being used to support terrorism or related activities.
In Australia, these laws are regulated by AUSTRAC and form part of a broader international effort to protect the integrity of financial and professional services.
Why do these laws apply to lawyers?
Legal professionals are sometimes involved in transactions that may be targeted by criminals attempting to move or conceal funds. These can include property transactions, business purchases, company formations or handling client funds.
To strengthen safeguards within these sectors, the Australian Government has enacted legislation expanding AML/CTF regulations to include certain legal services. The Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 received Royal Assent on 10 December 2024. This reform, often referred to as “Tranche 2”, introduces mandatory compliance requirements for law firms from 1 July 2026.
The aim is to ensure that professional service providers play an active role in identifying and preventing financial crime.
What this means for our clients
As these reforms come into effect on 1 July 2026, clients will be asked to complete a few straightforward steps at the outset of their matter. We will guide you through each one. These steps include:
- Verifying your identity — we will ask you to complete a secure online identity check (VOI) using a government-issued photo ID such as a driver’s licence or passport. This is completed quickly and securely through our identity verification system and takes only a few minutes.
- Completing a short client questionnaire — we may ask you questions about the nature of your transaction, the purpose of your matter, and the source of funds involved. These are standard questions required under the new laws and are not a reflection on you personally.
- Providing additional information for company or trust matters — if you are acting through a company or trust, we will need to identify key individuals such as directors, shareholders (with 25% or more ownership), and beneficial owners. We will let you know exactly what is needed.
These checks are a legal requirement and are designed to ensure that legal services cannot be misused for unlawful purposes.
While these procedures add a brief step at the start of your matter, we have designed our process to be as simple and seamless as possible. In most cases, identity verification takes just a few minutes online. Your personal information is handled securely and retained in accordance with our privacy obligations. These steps protect both you and the integrity of Australia’s legal and financial systems.
Our commitment to compliance and client service
At W & G Lawyers, we are committed to maintaining the highest standards of professional responsibility and regulatory compliance. Attending industry events such as the InfoTrack AML/CTF Roadshow allows us to stay informed about emerging legal obligations and implement best-practice procedures.
We have proactively prepared for these reforms well ahead of the 1 July 2026 commencement date. Our team has developed an AML/CTF compliance program tailored to our practice, completed specialised training, and invested in leading compliance technology to ensure that our verification processes are smooth and secure for clients.
Our goal is to ensure that these compliance requirements are handled quickly, securely, and with minimal disruption to your matter. You can expect clear communication from us about what is needed and why, so you always know exactly where things stand.
If you have any questions about AML/CTF requirements, what to expect when engaging our services, or how these changes may affect your particular matter, please do not hesitate to contact us. We are here to make this process straightforward for you.
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Disclaimer
The article published by W & G Lawyers is intended to provide general information only and does not constitute legal advice on any subject matter. By accessing or reading this article, the reader acknowledges that no solicitor–client relationship is created between the reader and W & G Lawyers.
The content should not be relied upon as a substitute for obtaining legal advice from a qualified legal practitioner. Readers are encouraged to engage a lawyer to obtain advice tailored to their specific circumstances. You may contact our office or locate a solicitor through the Queensland Law Society online directory at https://www.youandthelaw.com.au/directory
This article does not take into account all potential future legislative amendments, regulatory changes, or developments in case law. Accordingly, the content may not reflect subsequent changes in the law and should not be relied upon as legal advice for any particular situation.
This article will not be updated after publication. Any subsequent developments in the law or legislative changes may be addressed in separate future publications.