Set-up (once)
- Confirmed which designated services we provide.
- Enrolled with AUSTRAC within 28 days.
- Appointed a compliance officer at management level.
- Adopted an AML/CTF program with a risk assessment and policies.
- Decided our cash policy and written it into the program.
- Trained client-facing staff and recorded it.
Every new matter that is a designated service
- Identified and verified the client before the service.
- Identified beneficial owners of any company or trust.
- Recorded purpose and, where risk is higher, source of funds.
- Rated the risk and set a review date.
Ongoing
- Reviewed client files when due.
- Reported any suspicious matter within 3 business days.
- Reported any cash of AU$10,000 or more within 10 business days.
- Reviewed the program yearly and retrained staff yearly.
Every financial year
- Lodged the annual compliance report with AUSTRAC between 1 July and 30 September, covering the year to 30 June.
- Checked records are complete and retrievable for 7 years.
Questions people ask
- How long does set-up take?
- With a tool that generates the program from a questionnaire, an afternoon.
Sources
Official AUSTRAC guidance this page was checked against. The date is when we captured the page; AUSTRAC may have updated it since.
- Professional designated services · AUSTRAC, captured 14 Sept 2026
- Your AML/CTF program · AUSTRAC, captured 14 Sept 2026
- Reporting to us · AUSTRAC, captured 16 Apr 2026
- Record keeping checklist · AUSTRAC, captured 17 May 2026
This guide is general information for solicitors, conveyancers, settlement agents, not legal advice. Check AUSTRAC's current guidance for your situation.