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Rules Mate

Do jewellers need to enrol with AUSTRAC?

The AML/CTF Tranche 2 test for jewellers, from the designated-service tables in section 6 of the AML/CTF Act and AUSTRAC's sector guidance.

Short answer: Only if you provide a designated service

A jeweller or bullion dealer is regulated when it buys or sells precious metals, stones or products for the cash threshold or more in physical currency or virtual assets, in a single transaction or in linked transactions (s 6 table 2 item 2, s 5A). A dealer that accepts no cash and no virtual assets at all is not regulated for that service.

The designated services that catch jewellers

AML/CTF Act referenceServiceCustomer for due diligence
s 6 table 2 item 2, s 5ABuying or selling precious metals, stones or products for the cash threshold or more in physical currency and/or virtual assets, single or linkedThe buyer or seller

A common control is a payment-method policy: no cash or virtual assets, or a cap below the threshold, with a process to detect linked or instalment payments that reach it.

The cash threshold is $10,000 (AML/CTF Act s 5 and s 5A), counting physical currency and virtual assets, in one transaction or linked transactions such as instalments or lay-by.

Carve-outs and exemptions to check

  • Card, bank transfer and other non-cash payments do not count towards the threshold.
  • Precious-metal products are those with at least 2% precious metal by weight (s 5A(1)(j)).

Enrolment deadlines and what follows

  • Enrol within 28 days of first providing a designated service (s 51B). For a business already providing the service on 1 July 2026, that was 29 July 2026.
  • Each day a designated service is provided while unenrolled can be a separate contravention (s 51B(2C)).
  • Notify AUSTRAC of changes to enrolment details within 14 days (s 51F, Rules r 3-9), including adding a new designated service.
  • Designate an AML/CTF compliance officer within 28 days of first providing a designated service (s 26K) and notify AUSTRAC within 14 days (s 26M). For newly regulated businesses the transitional deadline was the later of 29 July 2026 or 14 days after enrolling (Transitional Rules s 19).

Enrolment is the first step, not the last

An enrolled business must also have an AML/CTF program before it provides a designated service: an ML/TF risk assessment plus AML/CTF policies covering customer due diligence, reporting (suspicious matters within 3 business days, threshold transactions of $10,000 or more in cash within 10 business days), record keeping, personnel due diligence, training and governance. The first annual compliance report covers 1 July 2026 to 30 June 2027 and is due by 30 September 2027.

AUSTRAC publishes a jeweller starter kit for dealers that accept no virtual assets and take regulated cash only from individual customers, and that meet the other suitability criteria.

AUSTRAC had 320 enrolments in this category as at 17 September 2026. AUSTRAC reports jewellers and dealers as one enrolment category.

If you should be enrolled and are not

AUSTRAC can issue an infringement notice of $21,840 for a company or $4,368 for an individual per contravention (60 or 12 penalty units at $364), or seek a civil penalty of up to $36.4M (body corporate) or $7.28M (individual) per contravention. Since 28 August 2026 AUSTRAC has been issuing section 167 notices to businesses that appear to provide designated services without enrolling.

Check your AML/CTF programUpload the AML/CTF program you already have and get a gap score against the Tranche 2 requirements of the Act and Rules. Personal information is removed before analysis.Primary actionRun the compliance journeyAnswer a short questionnaire about your business and get the obligations that apply to you, with the reason each one applies.

Questions

Do jewellers need to enrol with AUSTRAC?
Only if you provide a designated service. A jeweller or bullion dealer is regulated when it buys or sells precious metals, stones or products for the cash threshold or more in physical currency or virtual assets, in a single transaction or in linked transactions (s 6 table 2 item 2, s 5A). A dealer that accepts no cash and no virtual assets at all is not regulated for that service.
When is the enrolment deadline?
Enrol within 28 days of first providing a designated service (s 51B). For a business already providing the service on 1 July 2026, that was 29 July 2026.
Is there a starter kit for jewellers?
AUSTRAC publishes a jeweller starter kit for dealers that accept no virtual assets and take regulated cash only from individual customers, and that meet the other suitability criteria.

Related

Sources

Computed by the Rules Mate applicability engine from the published obligation corpus; facts last checked 3 October 2026. Rules Mate is not a law firm and this is general information, not legal advice. Confirm your position with the regulator source or a qualified adviser before acting.