Enrol with AUSTRAC
Register from 31 March 2026, within 28 days of providing designated services.
Accountants
AML for Accountants. Get Ready for July 2026
AML/CTF obligations for accountants from 1 July 2026. Learn what AUSTRAC requires for accounting firms under Tranche 2.
Key Information
Accountants are now regulated
From 1 July 2026, accountants providing designated services will have AML/CTF obligations under AUSTRAC. According to AUSTRAC's national risk assessment, services provided by accountants pose a high money laundering risk in Australia.
You must enrol with AUSTRAC, develop an AML/CTF program, and conduct customer due diligence on your clients.
Key obligations for accountants
AML/CTF Program
Written policies to identify, mitigate and manage ML/TF risks.
Customer Due Diligence
Know your clients including beneficial owners and PEPs.
Suspicious Matter Reports
Report suspicious activity to AUSTRAC within required timeframes.
Record Keeping
Maintain records for 7 years minimum.
Staff Training
Ensure personnel understand AML/CTF obligations.
Frequently asked questions
When do AML obligations start for accountants?
AML/CTF obligations for accountants commence 1 July 2026. Enrolment with AUSTRAC opens 31 March 2026.
What services are regulated?
Designated services include assisting with company formation, managing client accounts, and providing certain financial advice services.
Do small accounting practices need to comply?
Yes. All accountants providing designated services must comply regardless of business size. AUSTRAC provides starter kits for smaller businesses.
Related resources
CDD for accounting firms
ARCaml handles customer due diligence so you can focus on your clients.