Preparing for Tranche 2: What law firms need to know about the new AML/CTF reforms.

The countdown is on for Australia’s long-awaited Tranche 2 AML/CTF reforms, with new obligations for legal professionals set to commence on 1 July 2026. To help firms understand and prepare for the changes, ALPMA is hosting an exclusive conversation with Brendan Thomas, CEO of AUSTRAC, and Bion Behdin, Co-Founder of FirstAML, moderated by Emma Elliott, CEO, ALPMA.

This session will unpack the why, what and how of the reforms — from understanding the purpose behind Australia’s expansion of AML/CTF regulation to the practical steps law firms should take now to ensure compliance.

Join us as Brendan Thomas shares AUSTRAC’s perspective on legal professional privilege (LPP), suspicious matter reporting (SMR), and the regulator’s approach to compliance in the initial stages of implementation. Bion Behdin will provide a practical view of how legal practices can operationalise customer due diligence (CDD) using technology and automation to meet their new obligations efficiently.

Time will be allocated at the end to answer questions – please submit questions prior to the session or ask your questions live. Whether you’re a managing partner, compliance lead, or practice manager, this webinar will help you navigate the reforms with confidence — and turn regulatory change into an opportunity to strengthen client trust and firm integrity.

Practical takeaways

1. Clarity on new obligations – Understand exactly which legal services and transactions will fall under the AML/CTF regime from 1 July 2026, and what compliance controls firms must have in place.
2. Confidence in applying LPP and reporting duties – Gain clear guidance from AUSTRAC on how legal professional privilege interacts with suspicious matter reporting, and what a balanced, compliant approach looks like in practice.
3.  Practical compliance pathways – Learn how to design and implement a fit-for-purpose AML/CTF program for your firm, including key steps for customer due diligence (CDD), staff training, and recordkeeping.
4. Technology and efficiency insights – Discover how platforms like FirstAML can streamline onboarding and verification processes, saving time while meeting regulatory expectations.