AML/CTF compliance for law firms, built around the matter
A program built from AUSTRAC’s legal sector starter kit, client and beneficial owner checks for every in-scope matter, and records that respect legal professional privilege.
Which legal work is covered?
Tranche 2 is about the service, not your job title. If any of these apply, you have obligations for that work.
Check against AUSTRAC's designated services list for your sector.
Last checked:
- Acting in the sale, purchase or transfer of real estateCovered
- Receiving, holding or controlling client money or propertyCovered
- Creating or restructuring companies, trusts and other entitiesCovered
- Assisting with business sales and equity or debt financingCovered
- Acting as, or arranging, a director, secretary or trusteeCovered
- Litigation and general advice not linked to these servicesUsually not covered
Compliance that fits how a law firm already works
Checks attach to the matter
Open a file per in-scope matter and reuse verified identities when the same client returns.
Notes kept separately
Reasoning about privilege is recorded apart from the client file, so you control what goes in an audit pack.
Source of funds on file
Ask for and record where funds come from before they hit your trust account.
ASIC data, mapped
Directors and shareholders from the ASIC extract, with beneficial owners flagged at 25%.
Roles and approvals
Senior manager approval for high-risk clients, recorded with name and time.
Training on file
Yearly modules for fee earners and support staff, with completion records.
From engagement to signed-off matter
- 1
Open the matter
Pick the service. Out-of-scope matters are recorded and skipped.
- 2
Verify the client
Secure link for individuals and every beneficial owner.
- 3
Assess and record
Risk rating, source of funds and an editable rationale.
- 4
Sign off
Partner approval where risk is high; ongoing screening after.
Priced for a small practice
Priced for a small practice: a monthly fee plus a fee per client file. Monthly billing, no 12-month contract. Pricing coming soon — talk to us.
Questions law firms ask
How does legal professional privilege interact with reporting?
The reforms keep protections for privileged information. ScreenlyyID lets you record privilege considerations separately; how you apply them is a legal judgment for your firm, guided by AUSTRAC and your law society.
Do we need to check the other side of a transaction?
Your obligations attach to your own client. You can still record checks on other parties where your policy requires it.
Can we reuse a client’s verification across matters?
Yes, within the period your policy allows. The client file shows when each check was done so you know when to refresh it.
Does it work for sole practitioners?
Yes. One person can hold every governance role, and pricing is per client file, so a small practice pays for what it uses.
Is your firm ready for an AUSTRAC review?
12 questions, a gap report by email, and the next three things to fix.