Tranche 2 AML Compliance Solutions for Law Firms
Navigate Tranche 2 obligations without compromising client confidentiality. Lead AML provides secure, tailored compliance frameworks and KYC tools for legal professionals.
Why Lawyers Must Comply with Tranche 2
Since 1 July 2026, legal professionals have been captured under Tranche 2 of the AML/CTF Act if they provide specific designated services. The laws mandate strict Customer Due Diligence (CDD) and reporting requirements, while still providing clear protections for information subject to Legal Professional Privilege (LPP). Your firm must enrol with AUSTRAC if you assist clients with:
Secure Trust Account Monitoring & Risk Profiling
Law firms cannot rely on generic, one-size-fits-all compliance templates. Lead AML combines decades of international regulatory expertise with secure technology — built with Legal Professional Privilege protections in mind so your obligations and your client relationships remain intact.
Automated CDD Without Compromising Client Confidentiality
Trust Account Monitoring
Monitor the flow of transit and escrow funds to identify suspicious anomalies before they become regulatory breaches.
Frictionless Client Onboarding
Secure, template-driven identity verification workflows for individuals, body corporates, and complex trusts.
Integrated PEP & Sanctions Checks
Automate your name screening against DFAT sanctions and PEP lists directly during your client intake process.
Confidential Reporting
Expert guidance on filing Suspicious Matter Reports (SMRs) while navigating tipping-off prohibitions and maintaining LPP protections.
AML for lawyers & legal professionals: FAQs
Which legal services are covered by Tranche 2?
Lawyers are covered when they provide designated services such as acting on the sale or purchase of real estate or a business, receiving or managing client money (including through a trust account), creating, operating or restructuring companies and trusts, and acting as or arranging nominees.
Does legal professional privilege still apply?
Yes. The reforms preserve legal professional privilege, and AUSTRAC has published guidance on how it interacts with reporting obligations. Check AUSTRAC’s guidance, or speak with us about how it applies to your practice.
Can we verify clients we never meet in person?
Yes. A digital ID check lets the client verify on their phone with a photo of their ID and a selfie. If you rely on a copy of a document instead, it should be a certified copy.
How much does AML software for law firms cost?
Lead AML plans start at $79 a month (plus GST), with monthly credit for automated ID and business checks and the AML/CTF program builder included. You can try every Growth feature free for 14 days, no card needed.
See it working on your own clients
- 14 days free, no card needed
- $50 of check credit to try ID and business checks
- Every Growth feature included