2026 AML/CTF Readiness Report

The 2026 AML/CTF Readiness Report is now available.

With the 1 July deadline fast approaching, ALPMA wanted to understand exactly where Australian law firms (including our members) are on their AML/CTF Tranche 2 journey – so we can help support you further to get ready.

In January 2026, we held a snap survey of 108 law firm participants to assess the sector’s preparedness for upcoming anti-money laundering and counter-terrorism financing (AML/CTF) reforms, focusing on confidence, readiness, leadership allocation, and key concerns.

• 57% of firms are very confident they understand their reporting obligations, but only 24% are very confident they could meet AML/CTF obligations by the commencement date.
• 41% are just starting, 40% are partially ready, and only 13% are mostly ready.
• 43% have assigned responsibility to a practice/general manager, while 20% have a dedicated compliance officer. Notably, 12% have not yet allocated responsibility.
• In relation to Journey Stage, over half (56%) are in early planning, 25% in the design phase, and only 3% in implementation. No firms report being fully embedded.
• Many firms are seeking external support, especially technology vendors (70%) and training providers (50%).

The legal sector is in the early stages of AML/CTF Tranche 2 readiness, with most firms still planning or designing their approach. Leadership allocation and confidence vary by firm size, and resource constraints are a major concern. There is strong demand for practical guidance, technology solutions, and training as the sector prepares for regulatory changes.

Download the free 18 page report