Law practices providing a designated service now have obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (AML/CTF Act) which commenced on 1 July 2026.
Guidance tailored to practice size
The Law Society of NSW has released two AML/CTF Implementation Guides. One guide targets sole practitioners and small firms, while the other addresses medium and large practices.
Each guide outlines the steps required to build an effective compliance framework. They also contain an editable combined risk-assessment tool for smaller firms and a suitability-assessment tool for larger organisations.
Assessment tools and privacy resources
A suitability-assessment tool helps firms decide whether AUSTRAC’s Program Starter Kits suit their operations. If adjustments are needed, the tool flags the specific areas that require change.
To aid firms with emerging duties under the Privacy Act 1988 (Cth), the Society provides a privacy-policy template and a client-information sheet explaining the new obligations.
These resources let practitioners align their data-handling practices with both AML/CTF and privacy requirements without drafting documents from scratch.
In practice, having a ready-made template reduces the time lawyers spend on paperwork, allowing them to focus on client matters while still meeting regulatory expectations.
Cost disclosure and billing guidance
The Uniform Law mandates transparent cost disclosure. The Society’s Costs Committee has issued an updated costs-disclosure precedent that firms can customise.
The Legal Services Council also published an information sheet on AML/CTF compliance and billing under the Uniform Law. It clarifies how to reflect compliance costs in client invoices.
Lawyers can consult the recent article “Looking at the bigger picture: AML/CTF Act compliance and billing practices under the Uniform Law” for deeper analysis.
Online training and ongoing assistance
An on-demand interactive course, “Complying with your AML/CTF obligations,” is now available. The self-paced program walks users through each compliance requirement.
The course is designed for a broad audience, from early-career lawyers to senior staff managing day-to-day AML/CTF tasks. It is especially useful for small-firm teams.
AUSTRAC’s contact centre offers multi-channel support, including an online enquiry form and a phone line at 1300 021 037. More details are on the AUSTRAC website.
For personalized help, the Law Society’s AML/CTF Professional Support Unit can be reached at (02) 9926 0249 or via email. The unit is staffed by specialists who can answer technical queries.
Key documents and guidance notes
The following items form the core of the current resource library:
- AUSTRAC – Professional designated services guidance and “Getting ready for AML/CTF” steps.
- Implementation Guide for sole practitioners and small firms, including a combined risk-assessment worksheet.
- Implementation Guide for medium and large firms, featuring a suitability-assessment tool.
- Client factsheet on new AML/CTF obligations.
- Costs-disclosure and costs-agreement precedent.
- LawInform on-demand course “Complying with your anti-money laundering and counter-terrorism financing obligation.”
- National Legal Profession AML/CTF Guidance – Designated services (Guidance Note 4, June 2026).
- National Legal Profession AML/CTF Guidance, Reporting and notice obligations (Guidance Note 5, July 2026).
- Information sheet for legal practitioners, AML/CTF Act compliance and billing practices (July 2026).
- Office of the Australian Information Commissioner, Privacy guidance for reporting entities under the AML/CTF Act.
- Privacy Foundations self-assessment tool and template privacy collection notice.
- Department of Foreign Affairs and Trade, Sanctions compliance guidance for legal professionals.
- Legal Profession Uniform Legal Practice (Solicitors) Amendment Rules 2026.
- Legal Profession Uniform Law Australian Solicitors’ Conduct Amendment Rules 2026.
AUSTRAC notes that after 1 July 2026, reporting entities will keep embedding AML/CTF processes. It expects improvements in control quality over the 2026-27 financial year, emphasizing effort rather than perfection.
