AML/CTF is not the death knell for smaller firms
SOLO or small-firm conveyancers feeling overwhelmed by administrative and regulatory requirements have been urged not to despair. Some facing the latest burden of AML/CTF compliance are reportedly tempted to sell up, retire or merge with larger firms. But industry leaders say it’s a challenge that can be managed. “AML/CTF is maybe another straw but I don’t see any evidence it’s broken the camel’s back,” said AIC NSW chief executive Jonathan Smithers. The Institute’s membership currently comprises 525 separate businesses (in addition to individual members) handling ov