Anti-money laundering & CTF in Tasmania
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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Tas-specific obligations
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Federal obligations
Federal
Suspicious matter, threshold, and IFTI reporting to AUSTRAC
Lodge SMRs, TTRs ($10K+ cash), and IFTI reports via AUSTRAC Online.
Enrol with AUSTRAC as a reporting entity
Tranche 2 entities must enrol with AUSTRAC within 28 days of first providing a designated service (29 July 2026 for services from 1 July 2026).
Designate an AML/CTF Compliance Officer
Reporting entities must designate an eligible AML/CTF compliance officer at management level and notify AUSTRAC.
Detect + enhance due diligence on Domestic + Foreign PEPs
AML/CTF Rules require detection + EDD on Politically Exposed Persons (foreign + domestic + international organisation).
Maintain a written AML/CTF program
Every reporting entity needs a documented AML/CTF program — an ML/TF risk assessment plus AML/CTF policies.
Customer due diligence (KYC) on every customer
Identify and verify every customer (and beneficial owner) before providing a designated service.
Lodge the AUSTRAC annual compliance report (AML/CTF Act s 47)
Every reporting entity must lodge an annual compliance report with AUSTRAC; the first financial-year period runs 1 July 2026 to 30 June 2027, due by 30 September 2027.
Independent review of AML/CTF program
Reporting entities must have their whole AML/CTF program independently evaluated at least once every 3 years.
Beneficial ownership transparency (Tranche 3 — under consultation)
Proposed beneficial ownership register for unlisted companies and trusts — consultation through 2024-2025; commencement TBD.