AML Compliance Cost for Australian Law Firms (2026)
Legal services were the first Tranche 2 cohort with a 29 July 2026 enrolment deadline. Use the calculator below to estimate your costs, then check the triggers to confirm you're captured.
Estimated upfront cost
$600 – $3,300
Estimated annual ongoing
$2,108 – $9,200
Upfront breakdown
AUSTRAC enrolment
Free — but mandatory (deadline for new entities was 29 July 2026)Free
Free — but mandatory (deadline for new entities was 29 July 2026)Free
Program setup (software templates)
$500–$2,000
$500–$2,000
Staff training setup
$100–$800
$100–$800
KYC / ID-verification tool onboarding
$0–$500
$0–$500
Annual breakdown
Compliance software subscription
~$59–300/month per vendor claims$708–$3,600
~$59–300/month per vendor claims$708–$3,600
Ongoing staff training (refreshers)
$100–$600
$100–$600
Independent review (Part B, as required)
Periodic — amortised annually$800–$3,000
Periodic — amortised annually$800–$3,000
Internal compliance time
AUSTRAC reporting, record-keeping, SMR/ITR lodgement$500–$2,000
AUSTRAC reporting, record-keeping, SMR/ITR lodgement$500–$2,000
AML SaaS (KYC checks, program templates, reporting) — vendors advertise from ~$59/month.
What triggers AML obligations
- Handling client money or operating a trust account
- Conveyancing and property transactions
- Drafting financial agreements
- Trust account transactions on behalf of clients
Sector specifics
- Law societies have issued practice guidance — check your state law society AML resources before engaging consultants.
- Trust account practices face the highest CDD workload: every matter with client money needs identification and ongoing monitoring.
- Small firms (under $200k turnover) fall in the government low-cost band (~$4,040 upfront / ~$6,020/year).
Full obligations and designated services: Tranche 2 guide.