Money and matters

A lawyer's guide to navigating Tranche 2 reforms.

Taking practical, no nonsense best practices from our law clients globally, we've created this resource hub.

The AML/CTF Amendment Bill 2024 introduces the most transformational changes to the regime since 2006. This fundamental shift requires much preparation and understanding for the law sector and others.

Part 1 - Money Laundering 101 for Law Firms

As Australia inches towards implementing Tranche 2 of the AML/CTF Act, law firms are starting to accept that it will be enacted in some form. This is Part 1 of Money and Matters: Money laundering 101

Part 2 - The Global AML Landscape

In this article we take a look at the global landscape of AML and dive deep into why it’s coming to Australia. This is Part 2 of Money and Matters: An Australian lawyer’s guide to navigating Tranche 2.

Woman lawyer staring out a window deeply thinking about upcoming legislative changes

Part 3 - The LCA Submission on the Act

In this article we take a look at the LCA's submission on the AML proposal and offer alternative perspectives based on global precedence. This is part 3 of Money and Matters: An Australian lawyer’s guide to navigating Tranche 2.

Professional man and women in deep discussion

Part 4 - AML Compliance Programs for Law Firms

In part 4 of this series, we assume Tranche 2 will proceed and, using the Tranche 1 legislation as a guide, look at what it will likely mean for creating an AML programme at a law firm.

Part 5 - Red Flags in Law Firms

Money laundering red flags in the legal sector: In this piece, we highlight some of the red flags often seen in law that signal potential money laundering and share real life examples.

Business woman working at a desk typing on her laptop

Part 6 - Risk Assessments in Law Firms

As Tranche 2 reforms roll in, you’ll hear a lot more about your law firm taking a ‘risk-based approach’. In this article, we outline the basis of all AML programmes that allows for a 'risk-based approach' - the risk assessment.

Short hair woman with glasses looking at monitor screen

Part 7 - CDD in law firms

With the introduction of the AML/CTF Bill 2024 to parliament, we go deep into another crucial aspect of AML compliance: Customer Due Diligence (CDD) procedures and how to be ready for 2026.

Part 8 - Understanding Ultimate Beneficial Owners (UBOs) in Law Firms

UBO identification is one of the most crucial components of AML. Read on for practical examples of how to approach complex or international UBO identification, as this is one of the most difficult and time-consuming parts of AML.

Tranche 2 Guidance

VOI vs KYC: Everything you need to know for Tranche 2 reforms

I already conduct VOI so I'm compliant with AML, correct? In a word, no. While VOI and KYC share some similarities, there are key differences. In this article we explain the detail.

Tranche 2: Frequently Asked Questions (FAQs)

Your frequently asked questions about Tranche 2, answered.

Blog - AML/CTF Tranche 2: Challenges and opportunities

Tranche 2: A practical guide to the draft Australian AML/CTF Rules

We've broken down AUSTRAC's recent draft AML/CTF Rules in plain English, with practical insights from the UK and NZ. The new rules introduce a more flexible, outcome-based compliance framework. Find out what that means.

AML Insights

Passporting: Not nearly as fun as it sounds for AML

Passporting is common practice that enables companies to serve clients across multiple jurisdictions. Here's why it's risky.

Hand reaching out for stash of money in red filter

AML: 4 Red Flags for Law Firms

Here are the most common red flags that law firms should be aware of when on the lookout for suspicious activity indicative of money laundering.

On-Demand Webinar: Risk intelligence for legal professionals

Watch the webinar and learn how the step-by-step breakdown of successful compliance programmes.