SILQ launches integrated AML/CTF feature ahead of new legislation for Australian Solicitors

SILQ, a leading legal practice management software provider for Australian law firms, today announced the release of its integrated Anti-Money Laundering (AML) and Know Your Client (KYC) compliance feature.

The new feature, available now to SILQ Solicitor Expand and Expert subscribers, supports the legal industry in completing due diligence once the new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation comes into effect from July 2026.

Streamlined AML/CTF compliance built for Australian Solicitors

With Australia's AML/CTF reforms now extending obligations to legal professionals, what is commonly known as 'Tranche 2', Australian Solicitors are required to implement robust client due diligence (CDD) processes, verify client identities, and determine whether their matters are designated under the legislation. Failure to comply carries significant legal and reputational risk.

SILQ's latest release addresses these obligations head-on by embedding compliance directly into everyday practice management workflows.

"We understand the pressure Australian Solicitors are facing as new AML/CTF obligations come into effect," said Steven Richardson, Co-Founder and Director of SILQ. "Demanding this busy profession complete more paperwork has the potential to be overwhelming for them. SILQ's goal with this new integration is to make compliance as seamless as possible, so Solicitors can focus on their clients, not administration."

Key Features of SILQ's AML/KYC Update

SILQ's new AML/CTF feature includes:

• Integrated client verification tools — SILQ's new 'client details' window captures and stores client identification documents directly within SILQ, in one centralised location, eliminating manual record-keeping and reducing compliance risk.
• Risk assessment tools — Conduct and record client risk assessments as part of the matter intake process, supporting Solicitors to meet their customer due diligence obligations under the AML/CTF Act.
• Matter class tracking — Quickly determine whether a matter is a designated service under the legislation, helping Solicitors identify when AML/CTF obligations are triggered.
• Centralised client due diligence records — All CDD documentation is captured and tracked within SILQ, providing a clear audit trail for regulatory purposes.

Why AML/CTF compliance matters for Australian Solicitors

Australia's AML/CTF reforms bring legal professionals in line with the Financial Action Task Force (FATF) recommendations, which identify lawyers as potentially vulnerable to being used as conduits for money laundering and terrorism financing. Under the new laws, Solicitors providing certain designated services — such as conveyancing, company formation, and managing client funds — must implement AML/CTF programs, conduct customer due diligence, and report suspicious matters to AUSTRAC.

SILQ's integrated solution ensures Solicitors have the tools they need to meet these obligations within their existing practice management environment, without the need for separate standalone compliance software.

Available now for SILQ Solicitor Expand and Expert subscribers

The AML/KYC feature is available immediately to existing SILQ Solicitor Expand and Expert plan subscribers. Legal practices not yet using SILQ are encouraged to book a free demonstration to see how the platform can support their compliance requirements or join SILQ's free webinar on March 25th 'AML for legal practices: What matters before July 2026". 

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About SILQ

SILQ is an Australian legal practice management software solution designed to help law firms and solicitors manage matters, billing, client relationships, and compliance with ease. Trusted by Australian legal professionals, SILQ delivers purpose-built tools that keep pace with the evolving regulatory landscape.

For more information visit: https://www.silq.com.au/

About AUSTRAC and Tranch 2:

AUSTRAC performs a dual role as Australia's anti-money laundering and counter-terrorism financing (AML/CTF) regulator and financial intelligence unit. This dual role helps to build resilience in the financial system and enables AUSTRAC to use financial intelligence and regulation to disrupt money laundering, terrorism financing and other serious crime.

From 1 July 2026, AML/CTF obligations will apply to certain services typically provided by the following professions and businesses, known as Tranche 2 entities: 

• real estate professionals - such as real estate agents, buyer's agents and property developers
• dealers in precious stones, metals and products
• lawyers
• conveyancers
• accountants
• trust and company service providers. 

More virtual asset-related services and intermediary transfer message services will also come under AML/CTF regulation from 31 March 2026.AML for legal practices: What matters before July 2026"