AML/CTF Compliance for Lawyers and Accountants

Australia’s expanding AML/CTF obligations are changing how legal and accounting professionals manage financial crime risks,...

4.7(7)
256
2-5 Hours
20
Intermediate

About This Course

Australia’s expanding AML/CTF obligations are changing how legal and accounting professionals manage financial crime risks, making compliance knowledge more important than ever. Our AML/CTF Compliance for Lawyers and Accountants course develops the practical skills required to understand, implement, and maintain effective Anti-Money Laundering and Counter-Terrorism Financing controls within professional practice environments.

This comprehensive online AML/CTF training course provides practical guidance on customer due diligence (CDD), client identification and verification, beneficial ownership checks, risk assessments, source of funds and source of wealth verification, reporting obligations, and record-keeping requirements. Participants will explore Australia’s Tranche 2 AML/CTF reforms, AUSTRAC expectations, and the responsibilities of legal and accounting professionals as financial system gatekeepers. The course also examines the relationship between AML/CTF compliance, professional ethics, confidentiality obligations, and client management.

Designed for lawyers, accountants, practice managers, compliance officers, partners, directors, and risk professionals, this course helps organisations strengthen financial crime prevention frameworks and regulatory readiness. Through practical scenarios, compliance examples, and implementation-focused learning, learners will gain confidence in identifying higher-risk clients, managing suspicious activity risks, and applying effective AML/CTF procedures. By completing this AML/CTF compliance training, participants will be better equipped to support ethical professional practices, meet evolving regulatory expectations, and build stronger financial crime risk management capabilities.

What You'll Learn

By completing this course, you will be able to:

  • Understand money laundering, terrorism financing, and proliferation financing risks within legal and accounting services.
  • Explain why lawyers and accountants are considered gatekeeper professions within Australia's AML/CTF framework.
  • Understand AUSTRAC's regulatory role and the impact of Tranche 2 AML/CTF reforms.
  • Identify designated services that may trigger AML/CTF obligations.
  • Recognise higher-risk clients, transactions, and business structures.
  • Assess risks associated with trusts, companies, property transactions, and client asset arrangements.
  • Conduct customer identification and verification procedures.
  • Verify beneficial ownership and control structures.
  • Apply risk-based customer due diligence and enhanced due diligence measures.
  • Perform source of funds and source of wealth assessments.
  • Develop and implement an AML/CTF Program suitable for a legal or accounting practice.
  • Understand the responsibilities of compliance officers, senior management, and staff.
  • Identify suspicious activity and meet Suspicious Matter Report (SMR) obligations.
  • Understand tipping-off restrictions and confidentiality requirements.
  • Maintain compliant record-keeping, evidence management, and audit-ready documentation.
  • Balance AML/CTF obligations with legal professional privilege, confidentiality, and ethical responsibilities.
  • Prepare your practice for long-term AML/CTF compliance and regulatory oversight.

Who should Take This Course

This course is ideal for:

  • Lawyers and Solicitors
  • Accountants and Tax Professionals
  • Partners and Directors
  • Practice Managers
  • AML/CTF Compliance Officers
  • Risk and Governance Professionals
  • Corporate Advisory Professionals
  • Trust and Estate Practitioners
  • Legal Operations Personnel
  • Client Onboarding Teams
  • Financial Crime Compliance Specialists
  • Anyone responsible for AML/CTF compliance within a legal or accounting practice

Career opportunities

AML/CTF and financial crime compliance expertise is becoming increasingly valuable across legal, accounting, financial services, governance, and regulatory sectors.

This course can support career development in roles such as:

  • AML/CTF Compliance Officer
  • Legal Compliance Manager
  • Financial Crime Analyst
  • Risk and Compliance Advisor
  • Governance and Regulatory Specialist
  • Practice Manager
  • Client Due Diligence Specialist
  • Legal Operations Manager
  • Accounting Compliance Manager
  • Regulatory Compliance Consultant

As Australia's AML/CTF reforms continue to expand, professionals with expertise in customer due diligence, financial crime prevention, regulatory compliance, and risk management will remain highly sought after across legal and professional services industries.

Requirements

There are no formal prerequisites for this course.

The training is suitable for professionals working in legal services, accounting, taxation, advisory, governance, compliance, risk management, and professional services environments. No previous AML/CTF experience is required.

Certification

Certification

Upon successful completion of the course and final assessment, learners will receive a Digital Certificate from Australian Compliance Training.

This certificate demonstrates knowledge of AML/CTF compliance, customer due diligence, financial crime risk management, and regulatory obligations relevant to Australian legal and accounting professionals.

Certification

Why Choose Us

  • 100% online and self-paced learning designed for busy professionals.
  • Practical, industry-focused content tailored to legal and accounting environments.
  • Training aligned with Australian AML/CTF legislation and Tranche 2 reform requirements.
  • Interactive assessments that reinforce practical compliance skills.
  • Instant digital certification upon successful completion.
  • Trusted compliance training designed to support regulatory readiness and professional excellence.

Compliance and Regulatory Alignment

This course supports awareness and understanding of:

  • Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act)
  • AUSTRAC AML/CTF Rules and Guidance
  • Tranche 2 AML/CTF Reforms
  • Customer Due Diligence (CDD) Requirements
  • Beneficial Ownership Verification Obligations
  • Suspicious Matter Reporting (SMR) Requirements
  • Risk-Based AML/CTF Program Requirements
  • Sanctions and Politically Exposed Person (PEP) Screening
  • Privacy Act 1988 and Information Handling Obligations
  • Professional Conduct and Ethical Practice Requirements
  • Legal Professional Privilege and Confidentiality Principles

Course Curriculum

6 sections20 lectures2-5 Hours
▶ Understanding Money Laundering, Terrorism Financing and Proliferation Financing
▶ Why Lawyers and Accountants Are Considered Gatekeeper Professions
▶ Australia’s AML/CTF Framework and Tranche 2 Reform
▶ AUSTRAC’s Role in Supervision, Intelligence and Enforcement
▶ Quiz
▶ Identifying Regulated Legal and Accounting Services
▶ Table 6 Designated Services for Lawyers and Accountants
▶ High-Risk Clients, Transactions and Business Structures
▶ Real Estate, Trusts, Companies and Client Asset Risks
▶ Quiz
▶ Client Identification and Verification Requirements
▶ Beneficial Ownership and Control Structures
▶ Risk-Based Customer Due Diligence and Enhanced Due Diligence
▶ Source of Funds, Source of Wealth and Ongoing Monitoring
▶ Quiz
▶ Building an AML/CTF Programme for a Legal or Accounting Practice
▶ Governance, Compliance Officers and Staff Training
▶ Suspicious Matter Reports and Tipping-Off Restrictions
▶ Record Keeping, Evidence Management and Audit Readiness
▶ Quiz
▶ Legal Professional Privilege, Confidentiality and Disclosure Limits
▶ Professional Standards, Ethics and Australian Best Practice
▶ Managing Client Refusal, Escalation and Matter Withdrawal
▶ Preparing the Practice for Sustainable AML/CTF Compliance
▶ Quiz
▶ Quiz

Frequently Asked Questions

This course provides practical guidance on Australia's AML/CTF obligations for legal and accounting professionals, covering customer due diligence, risk management, reporting requirements, and Tranche 2 reforms.

This course is designed for lawyers, accountants, legal practitioners, accounting professionals, compliance officers, partners, practice managers, and anyone responsible for AML/CTF compliance within a legal or accounting practice.

Yes. The course explains the Tranche 2 reforms, the designated services that apply to lawyers and accountants, and the compliance requirements introduced under Australia's updated AML/CTF framework.

You will learn how to identify and verify clients, assess beneficial ownership, apply risk-based customer due diligence, conduct enhanced due diligence, and monitor ongoing client relationships.

Yes. It covers Suspicious Matter Reports (SMRs), record-keeping requirements, tipping-off restrictions, governance responsibilities, and practical reporting obligations under Australian AML/CTF laws.

The course provides practical guidance on developing an AML/CTF programme, appointing compliance officers, training staff, managing high-risk clients, and preparing for regulatory audits.

AML/CTF compliance helps protect professional practices from financial crime, ensures compliance with Australian legislation, safeguards client trust, and reduces legal, regulatory, and reputational risks.

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