AML/CTF Tranche 2 Hub
AML Hub for Lawyers — Powered by My Databoss
From trust-account deposits to high-value settlements — stay compliant without drowning in paperwork.
Why Law Firms Are Now in Scope
Tranche 2 brings law-firms under AUSTRAC from 1 July 2026
If your practice provides designated services — for example property conveyancing, operating a trust account, managing client funds — you will become a “reporting entity.”
You must:
Enrol with AUSTRAC within 28 days of first providing a designated service.
Implement a written AML/CTF Program (Part A & Part B).
Conduct Customer Due Diligence (CDD/KYC) on every client and beneficial owner.
Monitor clients & report suspicious activity: file Suspicious Matter Reports (SMRs), Threshold Transaction Reports (TTRs ≥ A$10 000 cash) and International Funds-Transfer Instructions (IFTIs) where relevant.
Keep records for 7 years & train all staff.
Penalties AUSTRAC can impose civil fines in the millions; Principals and Compliance Officers can be personally liable for serious breaches.
Ready to get started?
Top 5 Risk Areas for Law Firms
Typical high-risk scenarios:
Trust-account cash deposits ≥ $10 000 for property settlements.
Off-shore / high-risk-jurisdiction buyers or sellers.
Complex corporate / trust structures that hide beneficial owners.Politically Exposed Persons (PEPs) as clients or directors.
Unusual payment instructions, e.g. splitting one deposit across multiple entities.
Red-Flag Awareness Matters: These examples come from AUSTRAC’s gatekeeper-sector risk assessments.
The full Red-Flag Checklist (dozens more indicators) is included in our e-learning & compliance-guide so your staff learn what to spot in real files
See how AML/CTF fits naturally into a legal matter in My Databoss
Daily Compliance in Practice
Engage Customer invite client to secure portal
Digital-ID + biometric check (100-point ID & selfie-match)
Platform auto-screens PEP / Sanctions / Adverse-Media assigns Risk-Tier
High-Risk case automatically requires EDD form + Compliance-Officer approval before trust-funds accepted
All CDD/EDD reports & supporting docs auto-stored 7 years. Dashboards feeds Internal reporting. Keep your firm audit-ready always
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CALL TO ACTION
Step 1 Take the Free AML Readiness Quiz
Step 2 Download Your Sector-Specific Risk-Assessment Template
Step 3 Book Free Implementation Session
Step 4 Receive Compliance Guide
Why Businesses Choose My Databoss
Integrated Everything- Risk-Assessment + Guide + Training + KYC workflows + Board-reporting — all in one secure portal.
Law-Firm-Friendly- Maps to legal trust-account & conveyancing workflows; respects legal-privilege boundaries; secure encrypted vault.
Audit-Ready in Minutes- Version-controlled program docs, risk-logs, SAR register, training register. Ready for AUSTRAC inspection.
Ready to Secure Your Business?
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