Legal and conveyancing AML/CTF obligations

Where obligations usually start

For legal and conveyancing practices, obligations typically arise in transaction execution work: real estate transfers, establishment or transfer of legal arrangements, and certain client-fund handling activities. General advice alone is not always in scope, but execution and facilitation activities can be.

Conveyancing-specific pressure points

• Compressed settlement timelines that challenge early CDD completion
• Multiple counterparties and beneficial ownership complexity
• Trust accounts and payment-direction changes close to settlement
• Urgent transaction variations that can hide risk indicators

Legal professional privilege and reporting

Legal professional privilege remains important, but it does not remove core AML/CTF obligations where designated services are provided. Firms need clear internal decision pathways for privilege assessments, escalation, and suspicious matter reporting so teams can act quickly and consistently.

What robust readiness looks like

Effective implementation includes AUSTRAC enrolment, a tailored AML/CTF program, role-based procedures for fee earners and support teams, and practical triggers for enhanced due diligence. Good controls are embedded in matter intake, trust account workflows, settlement preparation, and post-matter record keeping.