What it covers
- Which services are designated and why the firm is a reporting entity.
- How to identify clients and beneficial owners, and how VOI fits.
- Red flags in property, business and trust money, and who to escalate to.
- Reporting: suspicious matters, threshold transactions, privilege, tipping off.
- Record keeping and the 7-year rule.
How often
On commencement for anyone who deals with clients or trust money, then regularly (the law requires ongoing training tailored to the role; a yearly refresher is common practice), and when the program changes.
What to record
Who, when, what, and the result. AUSTRAC asks about training in the annual compliance report, and it can count towards CPD.
Questions people ask
- Do partners need training too?
- Yes. Everyone who provides designated services or deals with clients, including principals and the compliance officer.
Sources
Official AUSTRAC guidance this page was checked against. The date is when we captured the page; AUSTRAC may have updated it since.
- AML/CTF training · AUSTRAC, captured 12 Apr 2026
This guide is general information for solicitors, conveyancers, settlement agents, not legal advice. Check AUSTRAC's current guidance for your situation.