The scope of Australia’s Tranche 2 AML/CTF reforms is widening, and this time, lawyers are in focus.

From 1 July 2026, law firms providing designated services will be required to comply with AUSTRAC’s Anti-Money Laundering and Counter-Terrorism Financing regime. That means new obligations in customer due diligence, monitoring, reporting and record keeping.

While the changes raise compliance challenges, they also present an opportunity: strengthening practice standards, improving client trust, and building resilience against financial crime.

Read more from Personr about what’s coming, lessons from overseas, and the role technology will play: https://www.personr.co/industry-insights/lawyers-to-shoulder-new-compliance-burden-in-2026