AML Checks for Lawyers in Australia (Tranche 2)

Where law firms usually feel Tranche 2

On this site, the legal services that come up most often are trust-account dealings, property settlements, and business sales. Your program has to say which of your services are designated services. The public overview is /tranche-2, and a broader checklist is Tranche 2 for lawyers.

Practical tips

• Decide who owns CDD when a conveyancer or agent shares the file, so the client is not checked twice without disclosure.
• Do not stop at the company name. Identify beneficial owners.
• Keep the risk rationale on the matter, next to the verification outcome.
• Say in the costs agreement who pays the AML disbursement.

A matter workflow

1. Open the matter and note the designated service.
2. Ask the questionnaire questions that match the matter.
3. Send KYC or KYB from /aml-check.
4. Rate the client using the template.
5. Only then take the step your program says requires CDD — trust money, settlement, or the transaction itself.

FreeAML versus a legal suite

If you need trust accounting, that is a different product decision (TrustSoft and similar suites). If you need CDD evidence at variable volume, FreeAML is $15 KYC and $35 KYB with no monthly platform fee. Many firms use both: the suite for the trust ledger, FreeAML for the check. Compare the market in Best AML software Australia.

Prices: /pricing.

Frequently Asked Questions