Derisking international payments: practical strategies for firms
International payments can look straightforward from the outside, but for many law firms even a small oversight can create delays, risk and reputational damage. What starts as a routine transfer can quickly escalate into hours of admin, client frustration and - at worst - exposure to fraud.
It’s a growing problem. The Australian economy loses an estimated $68 billion each year to money laundering and related financial crime, and AUSTRAC reported more than 450,000 suspicious matter reports in 2024-2025. For legal practices handling high-value matters, these vulnerabilities aren’t theoretical. They’re landing in inboxes, client calls and trust account processes every day.
And the pace of change isn’t slowing. As Dylan Wooster, Legal Services Lead at Send Payments has experienced, “the number of scam attempts has skyrocketed over the last 18-24 months.”
The risks aren’t just external. They often start with the small, time-pressed details inside a firm’s own workflow.
When the details aren’t quite right
Most issues begin long before the payment is made. Unlike domestic transfers, overseas transactions demand complete precision. SWIFT codes, IBANs, routing numbers and formatting rules vary across jurisdictions. One incorrect character - even a space in the wrong place - can result in lengthy delays, rejected payments or investigations from receiving banks.
As Dylan notes from Send’s daily support experience, most lawyers aren’t confident with international payment requirements - simply because it’s not part of their core training. In reality “about 80 percent of customers have very general knowledge” when it comes to international payments.
This knowledge gap creates space for avoidable errors, miscommunication and the kind of last minute scramble that can cause unnecessary stress for clients.
The rising cost of fraud and impersonation
Fraudsters know where the pressure points are. International legal matters - especially those involving estates, property settlements and cross-border disputes - represent high-value, time sensitive transactions. That makes them prime targets.
Without strong verification processes, firms can unknowingly approve a transfer that appears authentic but routes directly to a fraudulent account.
Send routinely identifies 2–3 sets of incorrect beneficiary details every month through their verification checks - details that appear legitimate at first glance but would have created major issues if processed.
These checks aren’t optional safeguards. They’re essential protections.
The hidden operational impact
While fraud and compliance risks demand attention, there’s another cost: time.
Processing an overseas payment through a traditional bank can take 36 minutes on average, compared with 6 minutes using Send. That’s before factoring in delays, errors, clarifications or the time spent chasing bank support lines.
Across a full caseload, these inefficiencies add up - creating pressure for firms, frustration for clients and additional work for admin teams.
Delays can also strain client relationships. When funds don’t arrive on time, clients don’t blame the intermediary bank. They blame their lawyer.
How firms can reduce risk and protect their clients
Protecting international payments doesn’t require an overhaul. It starts with small, deliberate changes.
1. Strengthen beneficiary verification
Don’t rely on email alone. Build processes that include proper validation or partner platforms that flag formatting errors, mismatched details or suspicious accounts.
2. Ask for overseas bank details early
Many firms wait until the end of a matter, which creates unnecessary pressure. Collecting full, correctly formatted details during onboarding reduces errors and protects timelines.
3. Prepare for AML Tranche 2 reforms
From 1 June 2026, law firms will face new obligations under Australia’s expanded AML/CTF regime. A practical starting point is identifying where international payments intersect with your current workflows – including client onboarding, matter risk assessment and how you verify source of funds. These areas are likely to attract the most attention once obligations expand.
4. Use partners that understand legal workflows
The right partner doesn’t just execute a payment. They flag risks, support verification, provide audit-ready records and help lawyers avoid pitfalls before they occur. As Dylan summarises, legal teams value “speed, accuracy and someone who picks up the phone.”
Protecting your firm starts with a solid foundation
Cross-border payments are becoming a routine part of legal work. As estates, disputes and corporate relationships span more jurisdictions, the complexity around moving funds safely will continue to rise.
The firms that manage this well do it through strong processes, reliable verification and payments partners who understand the pressures of legal practice. Send supports that work by helping firms reduce risk, validate details and move funds quickly when clients are depending on them.
If international payments are becoming more common in your matters, it may be the right moment to review how they’re handled - and where additional support could strengthen your workflow.
To explore how Send can make international payments easier for your team and your clients, get in touch today.
