AML compliance checklist for conveyancers: making your process work

What AML means for a conveyancing practice

AML/CTF means anti-money laundering and counter-terrorism financing. Australian conveyancers providing applicable designated services have obligations under the AML/CTF framework. Use AUSTRAC’s industry guidance to understand the applicable services and obtain advice where your circumstances need interpretation.

This is an operational discussion checklist, not a complete list of legal obligations or a compliance assessment. Start with your practice’s approved program and risk settings. The purpose is to see whether the work described on paper has a clear place in an ordinary conveyancing matter.

1. Give each recurring task an owner and a backup

Choose an ordinary new matter and ask who starts each AML step, who checks completion and who can approve an exception. Record roles rather than relying on one staff member’s memory. Include a backup for leave or absence, with the right access and escalation route.

• Check: can staff identify the owner without asking the principal?
• Useful process evidence: a responsibility table, escalation contacts and an absence procedure.

2. Check the hand-offs around customer due diligence

Walk through the point at which customer checks are started, reviewed and recorded in your existing system. Establish how staff know whether a step is complete or waiting for authorised review. Use a fictional walkthrough for initial process discussions; do not move real customer identity documents into an unsecured checklist.

• Check: is there a clear hand-off between the person collecting information and the person reviewing an unresolved item?
• Useful process evidence: a workflow map and a description of the completion and escalation states in your system.

3. Make exceptions visible to the right decision-maker

An exception needs more than a note saying ‘follow up’. Give it an owner, an agreed next action and a route to someone with the required authority. Keep sensitive case material in the approved source system. A process register can reference that system without copying the underlying customer information.

• Check: can the AMLCO see what is unresolved and why?
• Useful process evidence: a deidentified exception template, escalation procedure and closure criteria.

4. Make evidence easy to find and understand

A completed task should point to the relevant evidence and approval. Ask whether another authorised person could locate that record and understand what happened. Apply your approved record-keeping, access and retention arrangements rather than creating a separate collection of customer files.

• Check: do staff use a consistent reference and naming method?
• Useful process evidence: an evidence index, version-control convention and access responsibilities.

5. Review overdue actions and changes to the process

Review open actions at an agreed rhythm that fits the practice and its program. Record the reason for a delay, the decision required and the next owner. Include process changes, new staff, training needs and relevant guidance updates so the routine remains usable as the business changes.

• Check: does the principal or AMLCO receive a short list of decisions and overdue actions?
• Useful process evidence: an action register with owners, due dates and completion references.

Turn the checklist into a short action plan

For each unclear step, record the observation, why it matters, the next action, its owner and the evidence needed to close it. Prioritise work according to your approved risk framework and seek specialist advice for technical or legal questions. Do not treat a completed checklist as proof that all obligations have been met.

When a Health Check may help

If the practice already has a program and software but responsibilities or follow-through remain unclear, a process-level Health Check can help define the next actions. Our standard $695 scope covers one legal entity with an existing AML/CTF program, up to five documents or agreed extracts totalling no more than 20 pages, one written clarification round, and an evidence-referenced report with a 30-day action plan. One consolidated question or factual-correction request is included within five working days of receiving the report. Written delivery is standard. Calls can be arranged where needed and agreed in advance. It does not include detailed customer-file sampling, legal advice or independent evaluation. Scope and suitability are confirmed before work begins.