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Business Compliance ✦ ✦ ✦ ✦ · Australia For businesses

AML/CTF Tranche 2 Compliance Check (Australia)

AML/CTF tranche 2 check for Australian accountants, lawyers, conveyancers and real estate agents: AUSTRAC enrolment, customer due diligence and reporting.

Start free check 11 questions · 8 minutes · No signup
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Did you know? The numbers behind this check.

  • 1 July 2026Tranche 2 obligations start
  • $10,000 or moreCash threshold report
  • 3 business days (24h for terrorism)Suspicious matter report
  • 7 yearsRecord keeping

Why this matters.

The Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 extended Australia’s AML/CTF regime to so-called tranche 2 businesses. Since 1 July 2026, lawyers, accountants, conveyancers, real estate agents, trust and company service providers, and dealers in precious metals and stones who provide designated services must comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and the AML/CTF Rules. This includes many small practices and sole practitioners, for example an accountant who sets up companies or trusts, or an agent who sells property. Designated services are listed in section 6 of the Act, and AUSTRAC is the regulator.

If you are caught, you must enrol with AUSTRAC, assess your money laundering and terrorism financing risk, adopt AML/CTF policies, appoint an AML/CTF compliance officer, verify who your customers and their beneficial owners are, and report suspicious matters and cash transactions of $10,000 or more. You must also keep records for seven years and must not tip off a customer that you have made a report. Failing to comply can lead to civil penalties of millions of dollars per contravention, enforceable undertakings and remedial directions, and some breaches are criminal offences. This check shows whether your services are in scope and how ready you are.

Have these to hand.

  • A list of the services your practice provides to clients
  • Whether you handle client money, trust accounts or cash
  • Your current client onboarding and ID checking process
  • Any AUSTRAC enrolment confirmation or AML/CTF policies you already have

What you’ll get.

  • 1A score out of 100Where you stand today, at a glance.
  • 2Findings ranked by riskWhat could cost you, highest risk first.
  • 3A plan with timeframesWhat to fix first and by when.

Use this free tool to check whether the AML/CTF tranche 2 reforms apply to your accounting, legal, conveyancing or real estate business, and get a clear plan for AUSTRAC enrolment, customer checks and reporting.

General guidance only, not legal advice. Consult a qualified solicitor or adviser in your jurisdiction for specific issues.