With Tranche 2 going live on 1 July, this is where many firms will feel the pressure. It’s not the collection of documents that matters — it’s whether you’ve actually understood them. Because when decisions are questioned later, ‘we had it on file’ won’t be enough. The real test is simple: what did you understand, and why did you proceed?

AUSTRAC enrolment for Tranche 2 is now open, and law firms must act. This step-by-step guide explains who needs to enrol, key deadlines and how to complete your enrolment correctly before 1 July 2026.

Siloed teams in law firms create hidden AML risks. Without shared intelligence across departments, suspicious patterns can go undetected.

The prosecution of UK solicitor Neil Bolton is a stark reminder that AML failures can carry personal consequences. His conviction wasn’t for money laundering itself, but for failing to be sufficiently suspicious and failing to conduct proper client due diligence.

Trust accounts are central to legal practice, but they are also one of the most underestimated AML risk areas. Here’s why law firms must scrutinise funds before they enter client accounts.

When lawyers hear the phrase “money laundering”, the instinctive image is often dramatic and obvious: suitcases of cash, offshore shell companies or clients behaving in ways that immediately trigger alarm bells.

Tranche 2 preparation isn’t about copying bloated AML manuals or ticking boxes. A defensible AML framework starts with a clear, standalone risk assessment that informs proportionate, practical policies. Learn what regulators will expect and how law firms can prepare calmly, clearly and strategically for 1 July 2026.

There are no blanket exemptions coming for Tranche 2 professions. Law firms, accountants and real estate professionals are not being carved out of the regime. Suggestions otherwise are wishful thinking, not policy.

There’s been growing speculation across the AML community about delays to Australia’s AML/CTF reforms, with some commentary suggesting enforcement could slip as far as 2029. This has understandably caused confusion for lawyers, accountants, conveyancers and real estate professionals. In this blog, we separate fact from fiction, explain where the delay rumours are really coming from, clarify the difference between Tranche 1 and Tranche 2, and outline why Tranche 2 is still ver

Five simple ways you can explain the AML reforms to your clients, including free download.

A clear, practical explanation of simplified, standard and enhanced due diligence for Australian lawyers preparing for AML/CTF reforms.

How to spot red flags before you open a file in your law firm

Amy Bell's blog on Getting Client Due Diligence Right from day one when it comes to Tranche 2 lawyers

AML Sorted explain what the FATF is and how it influences Tranche 2 and Australia.

AMLS give an the FATF jurisdiction update in this article from December 2025

AMLCO means anti-money laundering compliance officer. What does this role mean for law firm compliance?

AML Sorted have considered AUSTRAC's August AML Update and give their practical thoughts on what to do now

Rhiannon Davies from AML Sorted explains AUSTRAC's Tranche 2 August 2025 updates and what's changing, why it matters and the practical steps you can take now to be ready by July 2026.

What is the risk-based approach when it comes to AML and CTF requirements from AUSTRAC

What does legal professional privilege mean when it comes to filings suspicious matter reports (SMRs)