Tranche 2 · Lawyers
AML compliance designed for legal practice
Law firms assisting with real estate transactions, buying/selling entities, managing client property/funds, or certain trust/company services are reporting entities. Designated services include assisting buy/sell/transfer of real estate or entities; receiving/holding/managing property in transactions; acting as trustee. Mixed practices should use both Legal and Conveyancing Starter Kits.
1 · Am I captured?
Am I captured?
Trigger is the service, not the job title.
Not sure? Read the Am I in scope? guide →Designated services include:
- Assisting buy/sell/transfer of real estate or entities
- Receiving/holding/managing property in transactions
- Acting as trustee
[Qualifier needed — what is not captured for law firms, on its own line]
2 · What you have to do
Your obligations
[Section intro needed — one line on what a reporting entity must have in place]
AUSTRAC enrolment
[Copy needed — what AUSTRAC enrolment requires of a law firm, 1–2 sentences]
Risk assessment
[Copy needed — what risk assessment requires of a law firm, 1–2 sentences]
AML/CTF program
[Copy needed — what an AML/CTF program requires of a law firm, 1–2 sentences]
Customer due diligence
[Copy needed — what customer due diligence requires of a law firm, 1–2 sentences]
Reporting
[Copy needed — what reporting requires of a law firm, 1–2 sentences]
Record-keeping
[Copy needed — what record-keeping requires of a law firm, 1–2 sentences]
3 · How Trancher helps
How Trancher helps
Sits alongside how legal work happens — not a banking-style process. Clear designated-service guidance, tailored program, efficient CDD, higher-risk/PEP handling, tipping-off-aware reporting, full audit trail. Self-serve or in-house specialist guided.
Risk assessment and AUSTRAC-aligned program builder
Client verification (KYC/KYB) with PEPs, sanctions and adverse media screening
Ongoing monitoring and risk scoring
Reporting support (SMRs)
Staff training modules
Audit-ready records and dashboard
Two clear paths
Path 1
Self-serve
You use the platform day-to-day with clear workflows and built-in guidance.
Path 2
Guided by in-house specialists
Our financial compliance specialists walk with you through enrolment, risk assessment, program design, training and first files. Once running smoothly, we hand the controls to you.
Either way, you stay in control. Most firms are fully operational within weeks.
Speed to operational
How long does it take?
Most firms move from start to operational compliance within weeks.
Days 1–7
Enrolment and risk assessment underway
Days 8–21
Workflows live and team trained
Thereafter
Fully operational and audit-ready
Resources
Guides and articles for law firms
FAQ
Questions from law firms
Am I captured?
[Answer needed — am I captured, for law firms]
What are the deadlines?
[Answer needed — Tranche 2 commencement and enrolment timing]
What goes in the program?
[Answer needed — program content for a law firm]
What does CDD look like in practice?
[Answer needed — CDD in practice for law firms]
How is KYC/KYB charged?
Every verification check triggers one transaction. If you are identifying individuals within an entity (for example directors, beneficial owners or authorised persons), each individual check is a separate transaction and is charged accordingly.
Ready to simplify compliance?
Book a short overview or speak with our in-house specialists about the right path for your firm.