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AML for Lawyers. Tranche 2 Obligations
AML/CTF obligations for lawyers, conveyancers and legal professionals from July 2026. Learn about AUSTRAC requirements and legal professional privilege.
Key Information
Lawyers and conveyancers under Tranche 2
From 1 July 2026, AML/CTF obligations will apply to lawyers, conveyancers and legal professionals providing designated services. According to AUSTRAC, for too long criminals have been able to take advantage of so-called 'gatekeeper professions'.
The new laws provide clear protections for legal professional privilege (LPP) — nothing in the Act affects the right to refuse to give privileged information.
Key dates for lawyers
Obligations Start
AML/CTF obligations begin for lawyers and conveyancers.
Designated services for lawyers
Real Estate Transactions
Assisting in planning or execution of property sales, purchases or transfers.
Corporate Transactions
Assisting in transactions to sell, buy or transfer a body corporate.
Trust Services
Acting as trustee or providing trust administration services.
Conveyancing
Settlement services that directly advance property transactions.
Legal Professional Privilege
LPP Protection
According to AUSTRAC, the Act doesn't take away a person's right to refuse to give information protected by LPP. If a reporting obligation involves privileged information, your obligation to provide it is affected.
LPP Form Requirement
If you withhold information on LPP grounds, you must complete and submit an LPP form to AUSTRAC within the required timeframe in lieu of the withheld information.
Frequently asked questions
When do lawyers have AML obligations?
From 1 July 2026, lawyers and conveyancers providing designated services like conveyancing, assisting with property or corporate transactions, or acting as trustees will have AML/CTF obligations.
What is covered by legal professional privilege?
The Act doesn't take away a person's right to refuse to give information protected by LPP. Lawyers can withhold privileged information, but must submit an LPP form to AUSTRAC in lieu of withheld information.
What services are regulated?
Regulated services include assisting in property transactions, corporate transactions, managing client property, providing registered office addresses, and acting as director or secretary.
What about general legal advice?
Providing legal advice on consequences or strategy doesn't trigger obligations — only services that directly advance transactions are regulated.
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