AML/CTF Tranche 2 – Nominate Your Compliance Officer
Understand the AML/CTF reforms and nominate your firm’s Compliance Officer to stay ahead of the 2026 deadline.
Be Ready for AML/CTF Tranche 2
In November 2024, the Federal Parliament passed reforms to expand Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime.
From 1 July 2026, lawyers, conveyancers, and real estate professionals will be required to comply with new obligations aimed at detecting and preventing money laundering and terrorism financing.
At triSearch, we’re developing a complete AML/CTF Compliance Centre designed specifically for the Australian legal and conveyancing industry — to help your firm meet its obligations confidently and on time.
Understanding the AML/CTF reform and its impact
What’s changing?
The reforms extend AML/CTF responsibilities to new sectors, including property transactions facilitated by legal and conveyancing professionals.
From July 2026, firms must:
- Establish an AML/CTF Program outlining due diligence processes
- Verify the identity of clients and beneficial owners
- Assess and manage risks of money laundering and terrorism financing
- Conduct source of funds checks
- Report suspicious activity to AUSTRAC
These changes aim to align Australia’s AML framework with global standards and strengthen the integrity of our financial system.
What It Means for Property Lawyers and Conveyancers
For conveyancers and property lawyers, the AML/CTF reforms will introduce a new layer of responsibility across everyday workflows. Client onboarding, verification and settlement processes will all need to meet stricter compliance standards.
Firms will need to embed a more structured approach to identifying risk – not just confirming who a client is, but understanding the nature of their transaction and the legitimacy of their funds. This shift will require clearer internal policies, staff awareness and secure digital systems to manage verification and reporting requirements.
By adopting compliant, tech-enabled processes early, firms can minimise disruption, protect against financial and reputational risk, and ensure a smoother transition once the reforms take effect.
How triSearch is Supporting Your Firm
We understand that compliance shouldn’t come at the cost of efficiency.
That’s why triSearch is building a dedicated AML/CTF Compliance Centre that:
- Builds on tools already in your triConvey experience, taking you 60% of the way there today
- Adds risk profiling, source of funds checks, and client intake with risk assessment
- Integrates directly with triConvey, your Practice Management System, ensuring compliance data is stored within each matter
- Is being developed in alignment with AUSTRAC’s guidance, not adapted from overseas systems
- Supports disbursement-based billing, with no subscription fees
We’re building this solution specifically for the Australian market, ensuring your firm is prepared well before the 1 July 2026 mandate.
Preparing Ahead of the Reforms
While our Compliance Centre is being developed, there are steps you can take now to prepare:
- Review your client onboarding and due diligence processes
- Identify any gaps in risk management or record-keeping
- Begin developing an internal AML/CTF policy
- Stay up to date with triSearch’s AML/CTF updates and educational resources
Our goal is to ensure you’re not just compliant by July 2026 – but confident in how your firm manages these new responsibilities.
Nominate Your Compliance Officer
As part of your firm’s preparation for AML/CTF Tranche 2, it’s time to identify who will take the lead on compliance. Your nominated Compliance Officer will be responsible for overseeing AML/CTF obligations, implementing internal controls, and ensuring your firm is ready ahead of the 1 July 2026 deadline.
By nominating now, your firm will receive early access to triSearch’s AML/CTF resources and updates – including practical guides, training materials, and previews of our upcoming Compliance Centre.
