AUSTRAC Tranche 2 for Lawyers & Conveyancers (2026)
Blog post from Didit
Australia's anti-money laundering regime will extend to previously uncovered professionals, including lawyers, conveyancers, accountants, and real estate professionals, starting 1 July 2026, as part of the "Tranche 2" reforms to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. This expansion brings Designated Non-Financial Businesses and Professions under AUSTRAC's supervision, requiring these professionals to conduct customer due diligence, keep records, and report suspicious activities and large cash transactions when involved in designated services such as real-estate transactions, company formations, or asset transfers. Legal professional privilege remains intact but is limited to privileged communications, not client identity or transaction facts. New reporting forms for Threshold Transaction Reports and Suspicious Matter Reports will be introduced, requiring enhanced data quality and compliance with expanded fields. The reforms aim to enhance compliance and streamline AUSTRAC's online systems, while professional bodies and platforms like Didit offer tools and guidance to assist with identity verification, customer due diligence, and transaction monitoring.
No tracked trend matches for this post yet.
Use this post, company, and trend context to find content marketing opportunities, perform competitive analysis, or address product feature gaps via the Plushcap MCP server or the Plushcap API.