Your firm just became a reporting entity.
Conveyancing, real-estate transactions, and trust account work are now designated services. Here's the system that gets you compliant by 1 July — without your billable hours becoming a compliance project.
The Tranche 2 reality
What Tranche 2 means for law firms.
Conveyancing, real-estate transactions, and trust account work are now designated services under the AML/CTF Act 2006 as amended for Tranche 2. From 1 July 2026 your firm is a reporting entity with the same obligations as a bank — a written program, customer due diligence on every client matter, transaction monitoring, and AUSTRAC reporting.
The Law Society of NSW and Law Council of Australia have published guidance, but neither replaces the underlying obligation. AMLify is the system that turns guidance into a defensible compliance program.
Why AMLify for legal services
Built for the way you actually work.
Built for matter-based practice
Each customer = one matter or one client. Bulk-import from your matter management system (LEAP, Actionstep, etc.).
Trust account aware
Trust account transactions over $10,000 trigger TTR drafts automatically. Source-of-funds verification fields are first-class.
Conveyancer-ready
Property transactions are tagged on creation; the conveyancing-specific risk indicators are defaults in the risk assessment wizard.
Law-Society-defensible
Independent reviews under AML/CTF Rule 8.6 are recorded with reviewer, date, and findings. Hand the evidence file to your reviewer in one click.
Your compliance obligations
What Tranche 2 requires for your business type.
- Customer due diligence on all clients for designated services
- Ongoing transaction monitoring for trust accounts
- Suspicious matter reporting to AUSTRAC
- AML/CTF program tailored to legal practice areas
- Staff training for all employees providing designated services
- Record keeping for a minimum of 7 years
- Enhanced due diligence for high-risk matters (e.g., international property transactions)
How AMLify helps
Purpose-built features for your industry.
- Ami generates an AML/CTF program tailored to your practice areas — conveyancing, litigation, advisory, or mixed
- Automated client screening during onboarding against sanctions and PEP databases
- Trust account transaction monitoring with automatic threshold alerts
- CDD workflows designed for legal client relationships
- Training modules covering legal-specific scenarios and case studies
- Record keeping that meets both Law Society and AUSTRAC requirements
Ask Ami
Examples of compliance questions you can ask your AI assistant.
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