AML/CTF Support Update: February 2026

AUSTRAC releases new “Getting Started” guidance for the legal profession

AUSTRAC has published its Legal Profession Program Starter Kit, a practical guide designed to help firms—particularly small and mid‑sized practices—begin shaping their AML/CTF Program.

The guidance outlines:

• What the starter kit is and how it fits into the broader AML/CTF framework
• Key steps firms should take before customising their program
• Why the reforms matter and how legal practices are exposed to ML/TF risks
• Who the kit is designed for, including practices with 15 or fewer personnel
• A clear, step‑by‑step approach to using the kit to build a compliant program

This resource is now available on AUSTRAC’s website and forms an important foundation for firms beginning their compliance journey.

AUSTRAC releases Quick Guide: ML/TF Risk Assessment Framework for Lawyers

AUSTRAC has also released a new Quick Guide outlining how legal practices should approach their money laundering and terrorism financing (ML/TF) risk assessment.

This document provides:

• A clear explanation of AUSTRAC’s risk‑assessment expectations for the legal sector
• A structured framework covering client risk, service risk, delivery channel risk, and geographic risk
• Practical examples tailored to common legal practice scenarios
• Guidance on documenting and reviewing risk assessments as part of a firm’s AML/CTF Program

This quick guide is particularly valuable for firms still shaping their initial risk assessment or seeking clarity on how detailed their analysis should be.

Webinar recording: ALPMA CEO joins AUSTRAC CEO Brendan Thomas

If you missed the recent AML/CTF webinar hosted by easyAML, the full recording is now available. The session features Ray Martin in conversation with AUSTRAC CEO Brendan Thomas and industry leaders Emma Elliott (ALPMA) and Brook Durling (AICWA), discussing:

• What AUSTRAC expects from law firms between now and July
• How the regulator is supporting the profession
• Common misconceptions about Tranche 2
• Practical advice for firms starting late or struggling with resourcing

This recording is an excellent primer for partners, practice managers, and compliance leads seeking clarity directly from the regulator.

Key findings from ALPMA’s AML/CTF Tranche 2 Readiness Report

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 full report will be released in the coming days, available for download on the ALPMA website.

New resources available through alpma

ALPMA has added new AML/CTF materials to our Whitepapers & Resources hub, thanks to our Partners. These resources focus on practical implementation, operational readiness, and the realities of integrating AML/CTF processes into existing workflows.

Topics include:

• Understanding designated services in a legal context
• Building and documenting your AML/CTF risk assessment
• Preparing partners and staff for cultural and procedural change
• Early lessons from firms already progressing their implementation

These materials will continue to expand each month as new guidance becomes available.