Enrol with AUSTRAC
Register your business and meet enrolment requirements.
Accountants
Customer Due Diligence For Accountants
customer due diligence for accountants - Learn about AUSTRAC requirements and AML/CTF obligations for accountants and accounting firms.
Key Information
AUSTRAC Requirements
According to AUSTRAC guidance, customer due diligence for accountants is an important requirement for accountants and accounting firms. Accountants are identified by AUSTRAC as posing high money laundering risk due to their gatekeeper role.
From 1 July 2026, AML/CTF obligations apply to Tranche 2 entities including accountants and accounting firms.
Key Requirements
AML/CTF Program
Develop and maintain a tailored compliance program.
Customer Due Diligence
Identify and verify your customers before providing services.
Reporting Obligations
Submit required reports including SMRs and TTRs.
Frequently asked questions
What are the key obligations?
Key obligations include enrolling with AUSTRAC, developing an AML/CTF program, conducting customer due diligence, and meeting reporting requirements.
When do obligations start?
For Tranche 2 entities (including accountants and accounting firms), obligations commence 1 July 2026. Enrolment opens 31 March 2026.
What records must I keep?
You must maintain accurate records of your AML/CTF program and compliance activities. Most records must be retained for 7 years.
Related resources
Simplify Your Compliance
ARCaml helps accountants and accounting firms meet AUSTRAC requirements efficiently.