From 7 January 2025, solicitors are no longer regulated under the Financial Transactions Reports Act 1988 (FTR Act). 

You do not need to submit reports about significant cash transactions of A$10,000 or more (or the foreign currency equivalent) that occur on or after 7 January 2025.

You will still need to report significant cash transactions that took place on or before 6 January 2025. Refer to the FTR Repeal page to learn more about your ongoing obligations . 

You will have new obligations under amendments to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. For information about what you need to do and when these obligations commence, refer to our AML/CTF reform page.

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