Understanding the reforms
Australia is implementing significant AML/CTF regulatory updates. Led by AUSTRAC, these reforms aim to strengthen financial-crime prevention and align with international standards.
Tranche 2 expansion (effective 1 July 2026)
- Lawyers and legal service providers
- Accountants and tax practitioners
- Real estate professionals
- Trust and company service providers
- Dealers in precious metals and stones
Core compliance requirements
Customer due diligence, risk assessments, transaction monitoring, staff training.
Immediate actions
- Confirm regulatory status
- Conduct risk assessments
- Appoint compliance officers
- Review client onboarding procedures