For law practices, Tranche 2, 1 July 2026
AUSTRAC ready
without rebuilding your matter intake.
Trust accounts, conveyancing, family law, wills, estates, company formations. A typical small AU law firm runs four or five designated-service categories at once. Caltury runs the AML/CTF workflow alongside your existing matter management, starting at A$99 a month.
Free until 1 July · no card · Sydney hosted · cancel anytime
Law Tranche 2 facts
01 Jul 2026
- AU law firms
- ~16,000
- Civil penalty cap
- A$22.2m
- SMR window (TF)
- 24 hours
- Records retention
- 7 years
- Caltury starting price
- A$99 ex GST/mo
Source: AUSTRAC, AML/CTF Act 2006 (Cth)
Built to
AUSTRAC AML/CTF Act 2006
Identity
Stripe Identity
Sanctions
OpenSanctions
Hosted
Sydney, AU
When the customer is an entity
The buyer is a company. Caltury captures every controller.
Tranche 2 requires you to identify every individual with 25% or more of an entity customer. Caltury auto-detects directors and shareholders from the ABN/ACN, builds the related-party tree, and screens every controller against sanctions and PEP lists in the same step. You see one screen, not five.
- Companies, trusts, partnerships, SMSFs — branched form built in
- AUSTRAC AML/CTF Rules part 8 captured for each controller
- PEP/sanctions screening runs on every party
Entity customer · related parties
4 mappedNorthbridge Holdings Pty Ltd
Corporate trustee
Anika Rao
Director · 40%
Daniel Rao
Director · 35%
Rao Family Trust
Beneficiary class
Sanctions & PEP · OpenSanctions
Why this hits you
Law firms run more designated services than most.
Trust accounts magnify exposure
A law firm trust account holds client money on its way somewhere else. Every inflow and outflow is a potential AUSTRAC reporting trigger. Cash deposits over A$10k are TTRs, international wires are IFTIs, suspicious patterns are SMRs. The matter management system doesn't track any of that, you do.
Conveyancing branch + family / estates branch = different risk profiles
Conveyancing matters trigger one set of risk indicators (settlement-day funds movement). Family law matters trigger different ones (asset hiding, structured payments around property settlements). Caltury risk-assesses each matter against its actual service category, not a generic firm-wide template.
Privilege isn't a bypass
Legal professional privilege doesn't override AML/CTF obligations to verify customer identity or capture beneficial owners. AUSTRAC's published guidance is explicit: privilege applies to communication content, not to the existence of a client. Caltury captures only what's required and keeps the rest out.
The workflow
How a new matter flows through Caltury.
Matter opened, customer created in Caltury
You record the client, pick the designated-service category for THIS matter from the AUSTRAC catalogue (conveyancing, trust formation, company formation, etc.). Different matter for the same client picks a different category, with appropriate workflow.
KYC + beneficial ownership captured
Individual clients: Stripe Identity verifies against the AU DVS. Company / trust clients: the customer form branches so the right parties are captured. Existing client returning for a new matter: KYC carries over if still current.
Sanctions and PEP screening
Every party screened against OpenSanctions. Re-screen cadence is risk-rated. Founding 5 firms get daily re-screening across the entire customer book.
Trust account transactions tagged
Inflows and outflows recorded against each matter. Cash A$10k+ auto-drafts a TTR. International wires auto-draft an IFTI. Suspicious patterns (structuring, unexplained source of funds) auto-prompt SMR review.
Suspicions captured as SMRs
Caltury drafts the SMR in AUSTRAC's 5-section narrative format from your facts. 3 business days for ordinary SMRs, 24 hours if the suspicion involves terrorism financing (auto-detected from the narrative).
Training gating per partner / associate
Every staff member who acts on a matter must have passed the relevant training module within the last 12 months. Caltury blocks SMR / TTR / IFTI drafting until training is current.
Annual independent review
AML/CTF Rule 8.6 requires an independent review every 13 calendar months. Caltury runs the review wizard with reviewer-finding linkage enforced. Findings carry forward into the next year's risk assessment.
Scenarios
What it looks like when something is off.
Not ready to start? Get the free Tranche 2 checklist.
The 40-point checklist covering AUSTRAC enrolment, your AML/CTF Program, KYC, sanctions screening, record-keeping and staff training. We email you the link plus a few short, useful follow-ups on getting ready before 1 July 2026. Unsubscribe in one click.
10 days until 1 July 2026