InfoTrack Compliance Centre Targets AML/CTF Burden
Legal Practice Intelligence (LPI) attended InfoTrack’s Ready-Set-Go AML/CTF Roadshow, which featured Leeann King, Director, Industry Education and Outreach at AUSTRAC, and Neil Jeans and Richard Storey of Grant Thornton.
AUSTRAC is the AML/CTF regulator and Finance Intelligence Unit for over 100,000 Australian entities. There was a reported cost of $82 billion to Australians in 2024 through money laundering and terrorist financing. Key messages from AUSTRAC regarding the Tranche 2 reforms were that legal and conveyancing firms should have the following in place:
- A documented AML/CTF program
- Appointment of an AML/CTF compliance officer
- Staff trained in AML/CTF obligations
- Customer identification procedures reviewed
- Enrolment with AUSTRAC
- Readiness to report suspicious activity
InfoTrack has partnered with Grant Thornton to design its one-stop-shop AML/CTF Compliance Centre, an extension of the VOI solution, already widely utilised in the legal and conveyancing sectors.
Legal and Conveyancing Sector Relief
What was very noticeable during the briefing was a strong sense of relief that InfoTrack had met the sector’s requirements by delivering a solution that practitioners can prove they have made a genuine effort to comply with the Tranche 2 legislative changes. Moreover, the Australian-designed solution proved intuitive and relatively straightforward for firms to implement in their practices.
The scale of this go-to-market initiative should not be understated in such a short period, given the sector’s reliance on it. Grant Thornton has been instrumental, along with the InfoTrack product team, fronted by Kristy Lee Bullock, with executive support from Lee Bailie, InfoTrack’s Chief Operating Officer.
Review of InfoTrack’s AML/CTF Compliance Centre
InfoTrack’s AML/CTF Compliance Centre is a comprehensive, integrated platform designed specifically for Australian legal and conveyancing firms to meet Tranche 2 obligations. It is offered as a complimentary solution (with costs only for individual searches) and seamlessly integrates into existing practice management systems. The solution covers the full compliance lifecycle, from enrolment and risk assessments to customer onboarding, reporting, and record-keeping, using digital workflows, automation, and pre-filled forms to reduce manual effort and errors.
Strengths:
- User-Friendly and Efficient: Guided processes with smart logic (e.g., adaptive questionnaires) and automation (e.g., risk reports with escalation prompts) make it accessible for firms without dedicated compliance teams.
- Comprehensive Coverage: It addresses core requirements, including enhanced checks on Politically Exposed Persons (PEPs), sanctions screening, adverse media screening, staff training modules, and AUSTRAC reporting.
- Cost-Effective: No setup or subscription fees; leverages existing InfoTrack tools for a smooth transition.
- Support Resources: Includes eBooks, brochures, CPD-accredited training, videos, and AUSTRAC Starter Kits for education and preparation.
- Audit-Ready: Automated logging ensures seven-year record retention, making audits easy.
Potential Limitations:
- While it handles most routine tasks, highly complex or high-risk scenarios might still need specialist advice.
- As a vendor-specific tool, firms should verify that it aligns with their specific risk profiles during implementation.
Overall, this solution appears well-substantiated and tailored to the reforms, positioning firms for compliance with minimal disruption. It is particularly valuable for small to mid-sized legal and conveyancing practices.
Next Steps
InfoTrack is supporting the sector by providing complimentary onboarding for personnel until 31 May 2026. As such, LPI highly recommends that practitioners review the online literature, request a demonstration of the InfoTrack’s Compliance Centre, and attend the Livestream on 24 March 2026.
by Shaun Locke
Shaun is a legal technology leader, entrepreneur, and connector. As the owner of Legal Practice Intelligence, Asia Law Portal and the custodian of a network of over 80,000 legal professionals. For over 25 years, Shaun has worked with law firms and accounting practices harnessing technology to work smarter, safeguard information, and deliver better outcomes for clients.
His expertise spans practice management systems, CRM, information management and security, transaction management, knowledge and expertise management, eDiscovery, finance automation, and AI-driven solutions. Shaun has a proven track record of introducing innovative solutions that transform how legal and accounting practices operate into the future.
