The release comes as the federal government’s Tranche 2 reforms move closer to implementation on 31 March 2026. Under these reforms, AML/CTF obligations will extend to a broader group of reporting entities, including accountants, lawyers, real estate agents, property developers and financial advisers.
AUSTRAC has indicated it will place greater emphasis on governance, risk assessment and evidence of compliance maturity across affected sectors.
Catherine Evans, Kit Legal founder and head of legal, said many smaller firms are still determining how they will manage the additional obligations.
“AML can feel like a maze, especially when you’re trying to run a business at the same time,” Evans said.
“Expectations are increasing, regulatory shifts are accelerating, and many firms are struggling to navigate this on their own or turning to expensive consultants.”
The package includes a tailored AML/CTF risk assessment, policies and procedures, and a series of operational controls such as task lists, declarations, registers and reporting tools. Training modules, guides, templates and checklists are also included, with updates applied as legislation or AUSTRAC guidance changes.
Evans said the aim is to provide firms with a structured way to understand and carry out their responsibilities.
“Our goal is to make AML something they can approach with clarity and confidence, knowing the framework is up to date, easy to manage and they have the right support,” she said.
Kit Legal was established in 2017 and focuses on legal and compliance services for ASIC- and AUSTRAC-regulated sectors, including financial planners, wealth advisers and wholesale funds. The firm also operates a software platform used by AFSL holders and other professional services businesses to support compliance-related tasks.
Evans said the firm expects increased demand for practical frameworks as reporting obligations expand.
“We know the industry is facing meaningful change, and our focus is on doing what we can to help firms get in front of it,” she said.
“If we can give businesses the tools, clarity and support they need early before the pressure hits, then we’re doing our job.”
The firm said the new package is intended to help advice businesses prepare for their obligations ahead of the commencement of Tranche 2.
