AML/CTF Tranche 2 commences
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Due
1 July 2026
26 days from today
What to file
AML/CTF Act extends to Tranche 2 sectors. Enrolment + program + CDD + reporting obligations begin.
Who is affected
Any firm providing a designated service under the Tranche 2 schedule from 1 July 2026 — including buyer's agents, conveyancers, accountants managing client money, lawyers handling property settlements, TCSPs and dealers in precious metals/stones above $10,000.
Penalty if missed
Civil penalties up to $33M per contravention for body corporates, plus criminal liability for senior officers and AUSTRAC remedial directions.
Applies to
Real estate, accounting, legal, conveyancing, TCSPs, precious metals dealers
Prep checklist
- Map which designated services your firm provides
- Enrol with AUSTRAC (by 29 July 2026 for day-one providers)
- Draft Part A (enterprise-wide) AML/CTF program
- Draft Part B (customer identification) procedures
- Appoint an AML/CTF Compliance Officer
- Set up suspicious matter and threshold transaction reporting workflows
On Rules Mate