AML/CTF Tranche 2 commencement (real estate, lawyers, accountants, TCSPs, dealers)
critical priorityone off
Due
1 July 2026
26 days from today
What to file
5 new sectors brought into AML/CTF regime. Enrol with AUSTRAC; design Part A + Part B; CDD.
Who is affected
Any firm providing a Tranche 2 designated service — including real estate agents, buyer's agents, conveyancers, lawyers handling client money, accountants offering business formation, TCSPs, and dealers in precious metals/stones above $10,000.
Penalty if missed
Civil penalties up to $33M per contravention for body corporates plus AUSTRAC remedial directions and criminal liability for officers.
Applies to
Real estate agents, conveyancers, lawyers, accountants, TCSPs + precious metals dealers
Prep checklist
- Map all 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