The new AML/CTF requirements for Australian Legal Practices

As Australian law firms prepare for the new AML/CTF requirements, most of the conversation has focused on legal compliance.

And rightly so.

There's been plenty of excellent guidance from @AUSTRAC and law societies across Australia to help legal practices understand their new obligations.

We would like to add another perspective...

Technology readiness.

These changes are likely to increase the amount of sensitive client information many law firms collect, store and protect.

That means technology isn't just an operational consideration anymore.

It's part of the compliance conversation.

We've put together a simple AML/CTF Technology Readiness Scorecard for Australian law firms.

It's simply a practical resource to help you consider whether the technology supporting your practice is ready for the changes ahead.

We hope you find it useful.