AUSTRAC Regulated
Requirements set by Australia's AML/CTF regulator.
AML/CTF
Tranche 2
Complete guide to Tranche 2 AML/CTF reforms expanding AUSTRAC regulation to real estate agents, lawyers, accountants, and precious metals dealers from July 2026. Understand your new compliance obligations, enrolment deadlines, and CDD requirements.
Key Information
AUSTRAC Requirements
Let's talk about Tranche 2. Or as some professionals are calling it: "The Great Compliance Wake-Up Call of 2026."
For decades, lawyers, accountants, and real estate agents operated outside AUSTRAC's reach. That ends July 1, 2026. Not gradually. Not eventually. July 1.
Here's what changes:
You'll need to identify and verify every client. Not just the big fish - every single one.
You'll screen for PEPs (Politically Exposed Persons). You'll assess money laundering risks.
You'll keep records for seven years. Not six. Not eight. Seven.
And if you don't? AUSTRAC can hit you with penalties up to $22.2 million per breach. Still with me? Good. Because here's the part where we help.
Key Compliance Elements
Risk-Based Approach
Apply measures proportionate to ML/TF risk level.
Customer Due Diligence
Know your customers before providing services.
Reporting Obligations
Submit required reports to AUSTRAC.
Frequently asked questions
What are the key requirements?
Key requirements include enrolling with AUSTRAC, developing an AML/CTF program, conducting customer due diligence, and meeting reporting obligations.
Who needs to comply?
Reporting entities providing designated services must comply. From July 2026, this expands to include real estate, legal, accounting, and precious metals sectors.
What are the penalties?
Non-compliance can result in significant civil penalties and criminal prosecution. AUSTRAC has imposed penalties exceeding $1 billion on major institutions.
Related resources
Simplify Your Compliance
ARCaml helps Australian businesses meet AUSTRAC requirements efficiently.