Queensland Law Society has released some helpful pre-reading for practitioners ahead of the inaugural AML/CTF Roadshow which rolls out next month.
The new Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 (AML/CTF) comes into force for solicitors on 1 July 2026 and QLS will host a roadshow in 10 locations across the state to assist the profession.
QLS is also providing AML/CTF Compliance A Practitioner’s Pre-Reading Checklist which includes need-to-know terms, timelines and background.
The first event will be held on the Gold Coast on Monday, 9 February from 11am-1pm. Registrations have closed as the event has sold out, but any Gold Coast practitioners who have missed out are encouraged to register for the online session on 26 February.
The event will also provide members, support staff and non-member the opportunity to ask questions and engage with a panel of presenters on topics such as timeframes, designated services, key obligations, the AML/CTF program and AUSTRAC’s Legal Profession Starter Program Kit, due for release this month.
The QLS panel will feature CEO Matt Dunn, Legal Policy Manager Wendy Devine and Ethics and Practice Centre Director Grace van Baarle.
QLS ran a successful roadshow last year on seller disclosure requirements.
Wendy, who took part in the seller disclosure roadshow, said it was incredibly valuable to meet with members and discuss the impact of changes.
“Speaking with the members as they prepare for change helps us ensure we understand their challenges and provide the right information and support,” she said.
Matt said due to its complexity, practitioners had a lot of questions about how the AML/CTF rules would work.
“Understanding the new rules is so important and absolutely critical for managing compliance,” he said.
“The roadshows will provide the opportunity to see them in their final form. QLS wants to give as much guidance as possible.
“While its been a long road to AML/CTF for the Australian legal profession since the tranche 1 started in 2006, the AUSTRAC starter parks for small firms are internationally unprecedented guidance from a regulator on how to come into an AML regime.
“We are fortunate to have worked with government to be able to bring this about and learning how to drive the packs will be a key focus of the roadshow.”
The panel will also visit Toowoomba, Rockhampton, Gladstone, Bundaberg, Sunshine Coast, Brisbane, Mackay, Townsville and Cairns.
The Brisbane roadshow will be livestreamed on 26 February. Content will be for sale on the QLS Shop at a later date.
Attendance earns two CPD points.
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