With new anti-money laundering (AML) laws set to take effect for conveyancers in July 2026, it’s understandable that many in the industry are frustrated by the looming compliance burden and increased risk. But there is a genuine upside: these changes provide a long-overdue chance for conveyancers to be recognised as true professionals and to charge appropriately for their expertise.

Twenty years ago, conveyancing fees were often calculated on a sliding scale tied to property value. Over time, however, relentless competition has driven fees down, often ignoring the complexity and risk involved in each matter. The misconception persists that conveyancers simply “tick boxes” and perform an easy task. The result? Fees that sometimes amount to less than 0.0018 of the price of a million-dollar home a figure that simply doesn’t reflect the responsibility or risk involved.

Stepping Into the Professional Spotlight

AML reforms now formally recognise conveyancers as key gatekeepers in the property market, placing them alongside lawyers and accountants in terms of responsibility and trust. The new requirements, client due diligence, source of funds checks, ongoing monitoring, and reporting mean conveyancers are delivering a higher level of service and risk management than ever before.

Why You Should Charge an AML Fee

• It’s industry standard elsewhere: Lawyers, accountants, and even real estate agents in many markets already charge some sort of administrative compliance fees.
• The work is real: Developing an AML program, registering with AUSTRAC, conducting due diligence, record keeping, and reporting all time, expertise, training and resources.
• There are three costs to manage:
     
  • One-off  set-up costs. These can run into thousands of dollars for developing your AML/CTF program, doing the firm-wide risk assessment, and putting technology in place.
   
  • Ongoing per-matter costs. Each transaction requires verification, screening, documentation, and review.
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  • Ongoing training costs. Staff need training, the complaince program needs to be reviewed and updated.
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• A fair per-matter fee is essential: Charging an AML compliance fee in the range of $300–$600 per file is reasonable and defensible. It covers the hard costs of verification tools, the time spent reviewing and chasing documents, and the increased professional risk.
• Clients expect it: As awareness of cybercrime and property fraud grows, clients increasingly value firms that take compliance seriously.

The Bottom Line

The future of the profession depends on practitioners having the confidence to charge for the expertise, compliance, and risk they shoulder. AML is just the latest and most serious compliance hurdle in a long line of regulatory changes. Passing on these costs is not a profit grab; it is a necessary part of staying compliant, sustainable, and competitive. Will you raise your fees to reflect the real cost of professional conveyancing, or let the race to the bottom continue until there’s nothing left to give?

How OX Rooms Can Help

OX Rooms is incorporating AML tools designed by conveyancers, for conveyancers. Our platform will help you automate checks, streamline recordkeeping, and make compliance part of your value proposition — not just another headache.

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