CUSTOMER SUCCESS

How Owen Hodge turned a compliance deadline into a practice upgrade

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CUSTOMER SUCCESS

Compliance in practice: Owen Hodge Lawyers

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When Tranche 2 reform put law firms on notice, Owen Hodge Lawyers chose to prepare early and use the transition to modernise how they manage client identity, data and risk. The result was a compliance framework that outlasted the deadline pressure and earned them an industry award along the way.

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The challenge

Like many law firms, Owen Hodge faced new requirements for client due diligence, risk assessment, monitoring and record-keeping.

But regulation wasn’t the only driver. The firm had already identified operational risks: fragmented identity records, manual verification processes and the cyber exposure that comes with storing sensitive client data on internal systems.

Traditional approaches – policy documents, spreadsheets and manual checks – were unlikely to scale or withstand regulatory scrutiny. The firm wanted a solution that would support compliance while improving data security, efficiency and client experience.

The approach

The firm took a leadership-led approach to Tranche 2 readiness, combining governance, training, change management and technology.

A key decision was implementing My Databoss as a core compliance and data-governance platform. Owen Hodge became an early user, working closely with the My Databoss team during development to ensure it met the practical needs of a legal practice.

My Databoss enabled the firm to:

  • Implement structured, risk-based client due diligence and monitoring
  • Reduce reliance on manual identity handling and document storage
  • Give clients a secure way to share and manage their identity information
  • Establish clear escalation pathways and Compliance Officer oversight
  • Create an auditable record of compliance activity aligned to AUSTRAC expectations

The rollout included firm-wide training, recognising that AML/CTF compliance is a cultural shift as much as a regulatory one.

quote-2-1My Databoss has transformed how we handle client identity verification and compliance. It gives us confidence that obligations are being applied consistently, without disrupting how we work.”

– Rolf Howard, CEO & Commercial Litigation Lawyer, Owen Hodge Lawyers

The result

Owen Hodge is on track for Tranche 2 readiness well ahead of the deadline. The firm has strengthened its data security by reducing the volume of sensitive identity information held on internal systems, lowering cyber exposure.

Onboarding and verification are now more consistent and efficient. Clients benefit from a more secure and streamlined experience. And the firm has clear oversight, escalation pathways and evidence to support regulatory engagement.

Beyond compliance, the initiative has positioned Owen Hodge as an early mover in Tranche 2 preparedness – reinforcing client trust and demonstrating how regulatory change can drive practice modernisation.

In 2025, Owen Hodge was recognised with the ALPMA Business of Law – Excellence in Technology and Innovation award.

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Whitepaper: Tranche 2 AML/CTF Reform in Australia 

What lawyers, accountants and real estate professionals must know – and how to prepare

The cost of getting it wrong

In Australia, non-compliance penalties can reach $22 million per breach, plus daily penalties of around $18,000. AUSTRAC and FATF expect group-wide consistency and accountability. Recent enforcement actions – including CBA ($700M) and Westpac ($1.3B) – demonstrate the regulator's posture.

Type of Failure

Financial Impact
Late or inaccurate reporting $50K–$200K per breach
System weakness or ongoing failure $1M–$30M+ potential penalties
Severe or systemic non-compliance Business-threatening enforcement

Figures based on current penalty-unit values.

 

In 2023–24, the cost of organised crime to Australia grew to $82.3 billion, a sharp $13.6 billion increase from $68.7 billion the previous year.*

 

Old way
Manual processes and fragmented tools

  • Policy documents in a folder
  • Identity stored in emails
  • Risk in someone’s head
  • Ad hoc monitoring
  • Manual spreadsheet reports
  • Training by word of mouth 

New way
Integrated, end-to-end AML/CTF workflows

  • Live compliance system
  • Verified identity records
  • Documented, scored risk ratings
  • Ongoing alerts and reviews
  • Logged, timestamped reports
  • Recorded, trackable training 

Meet My Data Boss

 

Greta-Menzies-CEO

Greta Menzies

CEO

Greta is an AI and data governance expert with nearly two decades of experience delivering enterprise-scale transformation across finance, government and universities. With a strong track record in machine learning adoption and data strategy, she has led complex programs for major banks, retailers and institutions. At My Databoss, Greta has assembled a high-calibre team to execute on a bold vision: redefining secure data management for the AI era, with a platform built for scale, compliance, and global impact.

James-Murphy-COO

James Murphy

COO

James is a seasoned executive and operations leader with over two decades of experience across financial services, technology and data platforms. As a founding executive and CFO of a high-growth fintech that successfully scaled and exited to an ASX-listed company, he brings deep expertise in SaaS operations, cybersecurity, risk management and compliance. James plays a pivotal role at My Databoss, ensuring the business is built on strong operational foundations and ready to scale with integrity and confidence.

Kelly-Ryan-CGO

Kelly Ryan

CGO

Kelly RyanCGOKelly is a seasoned executive with over 20 years of experience leading major national organisations across the sports, entertainment and real estate sectors. Known for her strategic vision and commercial acumen, she has driven the growth and transformation of high-profile brands through innovation and modernisation. At My Databoss, Kelly leads market expansion and strategic partnerships, ensuring the business continues to deliver game-changing solutions that empower organisations globally.

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We needed consistent compliance processes for every office and agent across the network, with one system that works the same way. My Databoss gives us that, as well as full confidence that we’ll be protected and audit-ready when Tranche 2 takes effect.”

Daniel O’Brien
Daniel O’Brien
Chief Executive Officer, X Commercial
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My Databoss has transformed how we handle client identity verification and compliance. It gives us confidence that obligations are being applied consistently, without disrupting how we work.”

Rolf Howard
Rolf Howard
CEO & Commercial Litigation Lawyer, Owen Hodge Lawyers
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My Databoss is a powerful solution that simplifies compliance across AML/CTF, privacy and cybersecurity – making life safer and easier for both professionals and clients.”

Agnieszka Szczepanik
Agnieszka Szczepanik
Founder & MD, LYRA Risk and Compliance
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My Databoss allows us to operationalise AML/CTF requirements at scale. It gives head office oversight, clear escalation pathways and a single source of truth for identity, risk and records while keeping the process simple for agents.”

Brent May
Brent May
Chief Operating Officer (COO), DiJones
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You don’t have to figure this out alone

I'm here to help. Book a complimentary 15-minute AML risk profile assessment and I'll walk you through where your business stands today, what to prioritise and how to operationalise your obligations before 1 July 2026.

– Raji Lal, National Sales Executive

Call: 1300 512 387