Law firm launches AML/CTF solution to support advice firms
South Australian legal firm Kit Legal has launched an anti-money laundering and counter-terrorism financing (AML/CTF) package solution to help finance professionals manage their regulatory obligations.
Founded in 2017, Kit Legal is a specialist in ASIC and AUSTRAC-regulated industries, with a particular focus on financial planners, wealth advisers, investment and corporate advisers and wholesale funds.
The AML/CTF subscription and implementation package offers state-of-the-art technology as well as clear and simplified guidance to make it easier for advisers, accountants and law firms to navigate these obligations. With much of the target market made up of small businesses, Kit Legal said this offering is at a price point intended to make it accessible for those that need it.
Designed to scale with different business structures and operating models, the firm said that each AML/CTF framework includes a fully customised risk assessment and tailored policies and procedures.
It also offers a comprehensive suite of dynamic controls, including declarations, resisters and reporting tools, and task lists to help businesses keep track of their obligations.
To further assist advisers in meeting their regulatory standards, the new offering also includes training modules, checklists, guides and templates that Kit Legal said will be maintained by the law firm, keeping them up to date as legislation and AUSTRAC guidance shifts.
The firm said this launch reflects its ongoing commitment to “cutting through compliance mythology and delivering commonsense solutions”.
Kit Legal founder and head of legal Catherine Evans said: “AML can feel like a maze, especially when you’re trying to run a business at the same time. Expectations are increasing, regulatory shifts are accelerating, and many firms are struggling to try and navigate this on their own or turning to expensive consultants.
“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.”
The launch of this solution, Kit Legal explained, supports the firm's purpose-driven model as it seeks to combine practical legal expertise with saleable technology designed to help businesses do the right thing.
Evans added: “We know the industry is facing meaningful change, and our focus is on doing everything we can to help firms get in front of it. If we can give businesses the tools, clarity and support they need early before the pressure hits, then we’re doing our job.”
The Financial Advice Association Australia (FAAA) recently urged advisers to reevaluate their exposure to AML/CTF obligations in a dedicated webinar last month as new reforms are set to commence from 31 March 2026.
FAAA senior manager of policy Heather McEvoy said: “If you look at the financial advice space, a lot of people may assume that because you may not be involved in the actual transaction of funds, that there isn't a risk to your business.
“But it's important to understand that the breadth of the AML/CTF regime is not just about money laundering and terrorism finance. It covers cyber fraud, welfare or Centrelink fraud, and tax evasion.”
AUTHOR
Shy-Ann Arkinstall
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