- Conveyancing
- Advisory Services
Tranche 2 compliance for practices navigating both legal and financial risk.
Lawyers and conveyancers facilitate Australia’s highest-value transactions property settlements, trust formations, client fund management. These are exactly the channels money laundering targets. From 1 July 2026, firms providing designated legal and conveyancing services must meet full AUSTRAC AML/CTF obligations and the standard expected of legal professionals is high.
AUSTRAC enrolment is open now
What the law requires and how we handle it
Enrol with AUSTRAC
Register as a reporting entity for designated legal or conveyancing services before 1 July 2026.
NEXTGEN AML SOLUTION
- Confirms which of your firm's services are designated
- Enrolment guidance from our advisory team
- Compliance specialists with legal sector experience
Build Your AML/CTF Program
Document a risk-based AML/CTF program covering client risk, CDD procedures, internal controls, training, and reporting obligations.
NEXTGEN AML SOLUTION
- Legal and conveyancing-specific AML program builder
- Risk assessment by transaction value & complexity
- Program designed and documented by compliance specialists
Verify Clients & Entities
Verify client identity and beneficial ownership before providing designated services.
NEXTGEN AML SOLUTION
- KYC for individual clients at matter opening
- KYB with full ownership mapping
- Integrated PEP, sanctions & watchlist screening
Monitor & Keep Records
Monitor ongoing client relationships and maintain records of all CDD, decisions, and AUSTRAC reporting for seven years.
NEXTGEN AML SOLUTION
- Ongoing monitoring across active matter records
- Dedicated auditor access for reviews & assurance
- Exportable 7-year records for regulator review
Suspicious Matter Reporting
Report suspicious instructions, transaction structures, or client behaviours to AUSTRAC promptly.
NEXTGEN AML SOLUTION
- Suspicious activity alerts flagged inside each matter record
- AUSTRAC-ready SMR drafts for Compliance Officer sign-off
- Full submission history recorded in-case
Train Your Team
All fee earners and support staff must be trained on AML obligations, red flags, and escalation procedures.
NEXTGEN AML SOLUTION
- Role-based AML training for legal teams
- Legal-specific training scenarios
- Staff training records & certificates
Why Legal Firms Choose NextGenAML
Legal and conveyancing firms have different compliance needs to real estate agencies or accounting practices. Matter-based workflows, trust account oversight, reliance arrangements, and the separation between fee earner and compliance officer functions require a platform that understands legal operations not just AML theory.
Matter-Based Case Workflow
AML checks aligned to how legal matters flow.
Cases are opened at matter creation and tracked through the full engagement lifecycle from initial CDD to matter close and seven-year record retention. No separate system needed.
Auditor Access Without Disruption
External auditors get full access without touching live matters. The dedicated Auditor role provides complete read-only and export access to case records, decision logs, and audit trails without interfering with fee earner workflows or active matters.
Reliance Arrangements Supported
Share CDD records across reporting entities with full evidence. Where your firm relies on checks completed by a real estate agency or another reporting entity, NextGenAML supports the reliance arrangement with shareable records and complete evidence trails.
Trust Account Monitoring
Ongoing oversight of trust account activity built in. Monitoring workflows flag unusual patterns in trust account activity keeping your firm ahead of suspicious activity rather than reacting after settlement.
Included In Every Plan
Everything you need to get started,
in one place.
No matter which plan you choose, NextGen AML gives you the core tools to move forward with confidence. From onboarding and customer screening to risk assessment, ongoing monitoring, reporting and dedicated support. It is designed to help businesses get ready without adding unnecessary complexity.
Legal FAQ
Common questions from Legal firms.
Does Tranche 2 apply to all legal services or only specific ones?
Only designated services are captured including property conveyancing, company and trust formation, managing client money, acting as a director or trustee, and providing nominee services. Not all legal work is in scope.
How do reliance arrangements work in practice?
Under Tranche 2, one reporting entity can rely on CDD completed by another. For example, a conveyancer can rely on identity checks completed by a real estate agency. NextGenAML supports this with shareable case records and full evidence logs preserved for both parties.
Can our auditors access records without disrupting the team?
The dedicated Auditor role in NextGenAML provides full read-only and export access to case records, decision logs, and audit trails without touching or interfering with any active matter workflows.
How do we handle high-risk client instructions?
High-risk matters route to your Compliance Officer with all evidence already organised. EDD notes, final decisions, and suspicious matter considerations are recorded defensibly inside the case with a complete decision trail.
Does NextGenAML help with trust account monitoring?
Yes. Ongoing monitoring workflows in NextGenAML flag unusual patterns in client fund activity and trigger re-screening where risk changes supporting your trust account oversight obligations.