AML obligations for conveyancers are now live. Get your practice compliant.
Our AML/CTF platform is purpose-built AML software for conveyancers & property lawyers navigating Tranche 2, supported by our local Aussie team.
- Step by step guidance
- Fully AUSTRAC-aligned solution
- No compliance experience required
Conveyancers and property lawyers are now subject to Tranche 2
If you buy, sell or transfer property for clients, handle settlement funds, review contracts of sale or advise on due diligence, Tranche 2 already applies to your practice. It's been in effect since 1 July 2026 — not a date on the horizon, but the rules you're operating under right now.
Haven't enrolled with AUSTRAC or built a program yet? You're already carrying that exposure. easyAML takes the guesswork out of AML for conveyancers — no compliance background required.
Where does conveyancing actually sit under Tranche 2?
Not every part of conveyancing is caught — but most of the day-to-day work is. Your practice is likely in scope if it:
- Acts for a client in the sale, purchase or transfer of property
- Manages settlement, including funds held in trust
- Processes electronic settlements through PEXA
- Reviews contracts of sale on a client's behalf
- Advises on or conducts property due diligence
Not sure where your practice lands? Get in touch and we'll map Tranche 2 against exactly what you do.
What actually needs to be inside your program
Strip away the jargon and a conveyancing AML program comes down to seven things:
- A risk assessment for each matter, covering the client, the property and how the transaction is being funded
- Client due diligence before you act, including enhanced checks for overseas buyers, company purchasers or trust arrangements
- Ongoing monitoring as a matter progresses toward settlement, not just a one-off check at intake
- Clear steps for escalating anything that looks off before funds move
- Training records for anyone in your practice handling client files
- A named AML/CTF compliance officer
- Seven years of retained records for every matter, not just the ones that get flagged
easyAML's conveyancer-specific program builder handles all of this with AUSTRAC-aligned risk assessments built around a typical settlement, and keeps your program current as the rules change.
Tranche 2 obligations
for conveyancers
Enrol with AUSTRAC
Enrolment for newly regulated businesses closed on 29 July 2026. If your practice hasn't enrolled yet, this needs to happen immediately.
- Step by step guidance
- Local support whenever you need it
Implement an AML/CTF Program
Develop and maintain a written, risk-based compliance program tailored to your business.
- Conveyancer-specific AML/CTF program builder
- Guided, AUSTRAC-aligned risk assessment setup
- Complete program - policies, procedures, and controls
- Your program is kept up to date and compliant
Verify your customers
Conduct checks to verify the identity of buyers and sellers that you deal with on property transactions.
- Easy biometric identity verification (Powered by Scantek)
- PEPs, sanctions & criminal watchlists screening
- ABN/ACN lookup and beneficial owner checks
- Complete KYC, KYB and KYE checks
Ongoing due diligence
Regularly monitor client activity and reassess their risk. Records need to be maintained for at least seven years.
- Continuous transaction monitoring
- Customer behaviour analysis
- Automated risk assessments
Reporting suspicious matters
Report activity that seems unusual or suspicious to AUSTRAC.
- Suspicious activity alerts
- One click AUSTRAC-ready reports
- Secure 7 year record storage compliance
Staff Training
Make sure your team understands red flags and reporting steps.
- On-demand compliance training modules
- Quizzes, walkthroughs and downloadable resources
- Local Australian-based support whenever you need it
Non-compliance with AML/CTF obligations can lead to serious consequences, including fines, legal action and public enforcement by AUSTRAC. Even unintentional breaches can result in reputational damage or the loss of key referral relationships. Conveyancers and property lawyers who ignore Tranche 2 risk enforcement action, as the rules are now in effect.
Integrations
No, you don't have to rip out your settlement software
easyAML sits alongside the platforms your practice already runs settlements on — Realtime Conveyancer with PEXA integration, CATS, SettsPlus and Unity — plus digital forms tools like Forms Live.
The platform
Built around how a file actually moves, not how a template imagines it
Every obligation above runs through one platform, shaped around how a conveyancing file moves from instruction to settlement: digital ID verification for buyers and sellers, smart risk assessments built for property transactions, and audit-ready reporting that keeps seven years of records ready for AUSTRAC.
The risk
One rushed ID check can hold up an entire settlement
For a conveyancing practice, getting AML wrong isn't just a compliance problem. A missed or rushed identity check can hold up funds, delay exchange, or expose your practice to a transaction involving illicit funds without you knowing.
AUSTRAC can still issue fines, take legal action and publicly enforce against practices that get this wrong. Practices that haven't enrolled or built a program are already carrying that risk.
The shortcut
Or don't run the checks at all — let us do it, file by file
AML on Demand puts our team on your matters: we collect and verify buyer and seller documents, run sanctions and PEP screening, and prepare your compliance file — typically within four business hours.
Your practice still approves every outcome and signs off on AUSTRAC reporting, at $50 per outsourced transaction, which most practices pass through as a disbursement.
FAQs: AML compliance for conveyancers and property lawyers
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How can I prepare my conveyancing business for Tranche 2?
Conveyancers have been captured under Tranche 2 since 1 July 2026. The practical starting point is enrolling with AUSTRAC if you haven't already, then putting a written AML/CTF program in place and building client due diligence into your file-opening process rather than bolting it on later. easyAML handles the program, the checks and the reporting in one system built around how conveyancing files run.
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Is AML software necessary for small conveyancing practices or settlement agencies?
Yes, definitely. AML software simplifies compliance by automating identity checks, monitoring transactions and generating audit-ready reports. It removes the guesswork and reduces time spent managing compliance manually. The time and expense to manage these tasks outside of dedicated AML software will be prohibitive.
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How can I ensure my staff are AML-compliant?
If you’re a conveyancer subject to Tranche 2, you must provide regular training to your team. This helps them spot red flags, follow internal compliance procedures and understand reporting obligations. easyAML’s software offers tailored training modules designed specifically to support conveyancing professionals and their teams, keeping your staff confident and compliant.
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Are conveyancers required to verify every buyer and seller?
Yes. Under Tranche 2, conveyancers must complete client due diligence (CDD) before offering any services. This process verifies identities, assesses risk levels and screens against sanctions and watchlists to prevent illicit activity. These steps protect your practice and help maintain compliance with AML regulations.
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What kind of reporting will my firm need to do under Tranche 2?
Under Tranche 2, your firm will be required to submit Suspicious Matter Reports (SMRs) whenever you identify unusual or suspicious activity. Detailed records must be maintained for at least seven years. You might also need to file Threshold Transaction Reports (TTRs) and International Funds Transfer Instructions (IFTIs) depending on your transactions to ensure full compliance.
The numbers
Doing this manually costs more than you'd think
Running AML/CTF manually pulls time straight out of your day, and the Attorney-General's Department puts the average cost at $23,250 a year — consultant fees, training hours and paper-based record-keeping.
easyAML starts from $179 a month plus GST, with your program, risk assessments, screening, training and local Australian support all included.