TRANCHE2 READY

Tranche 2 AML/CTF Readiness Check

Tranche 2 AML CTF compliance is now mandatory for lawyers, accountants, real estate agents and other designated service providers. Australia’s AML/CTF Tranche 2 reforms commence on 1 July 2026. Use this assessment tool to understand whether your business is likely to be regulated, identify your risk areas, and take the next step toward compliance.

Get a practical indication in around 90 seconds.

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This tool provides general informational guidance only and does not constitute legal advice. If your result indicates possible regulation exposure, you should obtain tailored compliance or legal advice.

What is Tranche 2 AML CTF Compliance?

Tranche 2 AML CTF compliance refers to the expansion of Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime to cover a new group of “designated non-financial businesses and professions” (DNFBPs). This major legislative reform brings lawyers, accountants, real estate agents, trust and company service providers, and dealers in precious metals and stones under the AUSTRAC regulatory framework for the first time.

Under the AML/CTF Act amendments, these newly regulated businesses will face strict obligations starting 1 July 2026 — including customer due diligence, suspicious matter reporting, and mandatory enrolment with AUSTRAC. Achieving Tranche 2 AML CTF compliance early is essential to avoid penalties and operational disruption.

Who Needs to Comply with Tranche 2 AML/CTF Reforms?

The Tranche 2 reforms apply broadly to professionals who provide designated services. If you are a lawyer, conveyancer, accountant, real estate agent, trust or company service provider, or deal in high-value goods such as precious metals, you are likely to be captured under the new regulations and must take steps toward Tranche 2 AML CTF compliance before the deadline.

Our free Tranche 2 AML CTF compliance readiness check helps you quickly identify whether your business is likely to be regulated, and what steps you need to take next. This is particularly important for small and medium-sized firms that may not yet be aware of their upcoming obligations under Australia’s strengthened AML/CTF laws.

Key Obligations Under Tranche 2 AML CTF Compliance

Businesses that fall under the Tranche 2 AML CTF compliance framework will need to meet several core obligations:

  • Enrol with AUSTRAC — Registration opens 31 March 2026 with a deadline of 29 July 2026.
  • Develop an AML/CTF program — Including a risk assessment and written policies tailored to your business.
  • Customer due diligence (CDD) — Verify the identity of customers before providing designated services.
  • Appoint a Compliance Officer — Designate a Senior Manager responsible for AML/CTF oversight.
  • Report suspicious matters (SMR) — Report any suspicious activity to AUSTRAC promptly.
  • Maintain records — Retain transaction and CDD records for at least 7 years.
  • Train staff — Ensure all relevant staff receive AML/CTF training.

Non-compliance with Tranche 2 AML CTF obligations can result in significant civil and criminal penalties. It is essential that affected businesses start their compliance journey well before the 1 July 2026 commencement date.