Anti-money laundering and counter-terrorism financing – What barristers need to know

From 1 July 2026, anti-money laundering and counter-terrorism financing obligations (AML/CTF) will come into effect for a range of new businesses and industries. This includes legal practitioners who provide “designated services” under section 6 of the amended Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (the Act).

Thanks to the successful advocacy of the NSW Bar Association – led by Senior Vice President, Michael Izzo SC, and Treasurer, Catherine Gleeson SC – barristers receiving instructions from a solicitor in connection with the provision of a designated service are exempt from the operation of the Act. However, barristers receiving direct briefs will be subject to the AML/CTF scheme where they provide designated services.

The AML/CTF scheme will require these members of the Bar – who will be considered “reporting entities” from 31 March 2026 – to meet a series of significant, and often onerous, obligations. Failure to meet these obligations may attract significant penalties.

This seminar will help members to understand whether the work they undertake is captured by the Act and, if so, the nature of their obligations. In particular, the seminar will address:

• The concept of “designated services” and the scope of the barrister exemption, including what is meant by ‘on the instructions of a solicitor’.
• AML-CTF obligations, including registration with AUSTRAC, customer due diligence, AML-CTF risk assessments and programs, suspicious matter reporting, record-keeping and Privacy Act obligations.

This seminar will be chaired by the President of the NSW Bar Association, Dominic Toomey SC, and will include presentations from the Senior Vice President, Michael Izzo SC, and the Treasurer, Catherine Gleeson SC.

Please note: Only NSW barristers or members of the NSW Bar Association can register for CPDs or webinars.