Anti-money laundering & CTF in Australian Capital Territory
Australia's AML/CTF framework — designated services, AUSTRAC reporting, customer due diligence, and the 1 July 2026 Tranche 2 expansion to real estate, accountants, lawyers, conveyancers, TCSPs and precious metals dealers.
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ACT-specific obligations
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Federal obligations
Federal
Enrol with AUSTRAC as a reporting entity
Tranche 2 entities must enrol with AUSTRAC by 29 July 2026.
Suspicious matter, threshold, and IFTI reporting to AUSTRAC
Lodge SMRs, TTRs ($10K+ cash), and IFTI reports via AUSTRAC Online.
Customer due diligence (KYC) on every customer
Identify and verify every customer (and beneficial owner) before providing a designated service.
Maintain a written AML/CTF program
Every reporting entity needs a documented AML/CTF program — Part A risk + Part B systems.
Designate an AML/CTF Compliance Officer
Reporting entities must designate a senior employee as AML/CTF Compliance Officer.
Detect + enhance due diligence on Domestic + Foreign PEPs
AML/CTF Rules require detection + EDD on Politically Exposed Persons (foreign + domestic + international organisation).
Independent review of AML/CTF program
Reporting entities must arrange independent review of their Part A AML/CTF program at appropriate intervals.
Beneficial ownership transparency (Tranche 3 — under consultation)
Proposed beneficial ownership register for unlisted companies and trusts — consultation through 2024-2025; commencement TBD.