AML Compliance Guide
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Urgent AUSTRAC enrolment deadline: 29 July 2026

Free AML/CTF Tranche 2 Compliance Toolkit

AML/CTF Tranche 2 Compliance Toolkit

Free toolkit — Every step sourced from official AUSTRAC guidance

From 1 July 2026, lawyers, accountants, conveyancers, and real estate agents become reporting entities under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. This free toolkit covers all 11 AUSTRAC obligations — with official citations at every step — so you can build your compliance plan today, without a consultant.

AML/CTF Tranche 2 Compliance Toolkit

Free
Due 29 Jul 2026

AUSTRAC Enrolment Preparation

Step-by-step checklist that pre-fills your AUSTRAC portal form. Copy values directly — no re-typing.

Mandatory · Once · Manual · 5 min

More details

Compliance citation links

  • AML/CTF Act 2006 (Cth) s 51E
  • AML/CTF Rules 2007 Ch 17

What it achieves

Produces every field AUSTRAC's Reporting Entity enrolment form requires, validated against your business structure and services.

How it beats manual process

Removes the guesswork of cross-referencing the Act and Rules yourself — fields are pre-validated so you don't risk rejection or resubmission.
Free
Due 1 Jul 2026

AML/CTF Program Builder

Guided 6-step workflow that produces a ready-to-sign AML/CTF Program PDF formatted to AUSTRAC's requirements.

Mandatory · Once · Manual · 15 min

More details

Compliance citation links

  • AML/CTF Act 2006 (Cth) s 26M
  • AML/CTF Rules 2007 Ch 4

What it achieves

Builds a complete, AUSTRAC-aligned AML/CTF Program covering risk assessment, governance, CDD, and ongoing monitoring obligations.

How it beats manual process

A manual build means reading the Act, the Rules, and AUSTRAC guidance separately and reconciling them yourself — this generates a ready-to-sign document in one guided session.
Free
Due 29 Jul 2026

Compliance Officer Register

Maintains a dated record of every compliance officer appointment, fit and proper assessment, and AUSTRAC notification.

Mandatory · Recurring · Manual · 5 min

More details

Compliance citation links

  • AML/CTF Rules 2007 Ch 4 (compliance officer requirement)

What it achieves

Keeps a dated record of every compliance officer appointment, fit and proper assessment, and AUSTRAC notification.

How it beats manual process

Manual records often miss the fit and proper assessment date — this captures the full appointment trail in one place.
Free
Due 1 Jul 2026

Staff Due Diligence Register

Centralised register of personnel background checks, suitability assessments, and vetting records for each role.

Mandatory · Recurring · Manual · 5 min

More details

Compliance citation links

  • AML/CTF Rules 2007 Ch 8

What it achieves

Maintains a single register of background checks, suitability assessments, and vetting outcomes for every staff member handling AML/CTF functions.

How it beats manual process

Replaces scattered HR files and spreadsheets with one auditable record per employee.
Free
Due 1 Jul 2026

Staff Training Register

Records who completed AML/CTF training, when, what content was covered, and by which method.

Mandatory · Recurring · Manual · 5 min

More details

Compliance citation links

  • AML/CTF Rules 2007 Ch 8

What it achieves

Records who completed AML/CTF training, when, what was covered, and by which delivery method.

How it beats manual process

A manual sign-in sheet can't prove training content matched obligations — this links each record to the training material covered.
$8 Test for free

KYC Links (Customer Due Diligence)

Digital CDD intake forms, identity verification workflows, and a searchable client register with 7-year retention.

Mandatory · Recurring · Automatic · 1 min

More details

Compliance citation links

  • AML/CTF Act 2006 (Cth) Pt 2 Div 2
  • AML/CTF Rules 2007 Ch 4

What it achieves

Captures and verifies identity information for each client type, with a 7-year retention trail ready for an AUSTRAC audit.

How it beats manual process

Manual CDD spreadsheets miss verification expiry dates and retention deadlines — this tracks both automatically per client.
Free

Suspicious Matter Reporting Log

Structured log for recording suspicious matter assessments — whether filed or not — with timestamps and audit trail.

Mandatory · Recurring · Manual · 5 min

More details

Compliance citation links

  • AML/CTF Act 2006 (Cth) s 41
  • AUSTRAC SMR guidance

What it achieves

Creates a defensible record of every suspicious matter assessment, including the reasoning for not filing, with timestamps.

How it beats manual process

Without a structured log, "no SMR filed" decisions are undocumented and indefensible under audit — this captures the reasoning at the time it was made.
Free

Threshold Transaction Report Log

Structured log for recording cash transactions of $10,000 or more and tracking the 10 business day TTR filing deadline against each one.

Mandatory · Recurring · Manual · 5 min

More details

Compliance citation links

  • AML/CTF Act 2006 (Cth) s 43
  • AML/CTF Rules 2007 Ch 16

What it achieves

Creates a dated record of every reportable cash transaction and its filing status, with the 10 business day deadline tracked against each entry.

How it beats manual process

Manually scanning transaction records for the $10,000 threshold risks missed deadlines — this keeps the deadline visible against each entry until it is filed.
Free

Independent Evaluation Tracker

Tracks your 3-yearly independent evaluation schedule, stores evaluation reports, and records findings and remediation.

Mandatory · Recurring · Manual · 15 min

More details

Compliance citation links

  • AML/CTF Rules 2007 Ch 4 (independent evaluation requirement)

What it achieves

Tracks your 3-yearly independent evaluation schedule and stores findings and remediation actions in one place.

How it beats manual process

Three-year cycles are easy to lose track of manually — this keeps the schedule and evidence together for the next evaluator.

Comparing your compliance options

This toolkit is free and covers every mandatory obligation. If you want to weigh it against other approaches first, these guides go deeper on each option:

AML/CTF program minimum requirements

What AUSTRAC's AML/CTF program for Tranche 2 must actually cover, requirement by requirement.

How to create an AML/CTF program

A step-by-step guide to writing your program, including where a starter template is enough and where it isn't.

AML/CTF compliance platform buyer's guide

What to look for in a paid AML/CTF compliance platform, and how the options compare on cost and effort.

AML compliance software guide

What AML compliance software does and doesn't do, and realistic Australian pricing.

ML/TF risk assessment requirements

What AUSTRAC expects in your money laundering and terrorism financing risk assessment, by profession.

AML/CTF staff training requirements

What staff awareness training must cover, and how often it needs to be repeated, by profession.

Frequently asked questions

Do I need to hire a compliance consultant? +
No — most sole practitioners and small firms can self-serve. AUSTRAC provides free starter packs, templates, and e-learning that cover every requirement. This tool is designed to replace paid advice for straightforward practices. Larger or more complex firms may benefit from a consultant, but it is not required.
How long does compliance take for a small practice? +
AUSTRAC enrolment takes about 20 minutes. A basic ML/TF risk assessment takes 2–3 hours using AUSTRAC's free templates. Writing an AML/CTF program typically takes half a day for a sole practitioner adapting the official starter pack. Most small practices can be fully compliant in under two weeks of part-time work.
Does this apply to my small practice? +
Yes — the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 applies regardless of practice size. Sole practitioners and low-risk practices benefit from simplified obligations in some areas. AUSTRAC has explicitly said its approach for small Tranche 2 businesses is supportive, not punitive, during the transition period.
Where do I start? +
Start with AUSTRAC enrolment — it takes about 20 minutes and the deadline is 29 July 2026. While you're waiting for confirmation, use AUSTRAC's free risk assessment template to document your ML/TF risks. Use our free AUSTRAC Enrolment Preparation tool to get started, or browse profession-specific guides in the footer below.
What is a designated service under AML/CTF Tranche 2? +
A designated service is any service listed in the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 that triggers AML/CTF obligations. Under the 2024 Tranche 2 amendments, designated services now include conveyancing, real estate sales, legal services involving real estate or corporate transactions, accounting and tax agent services, bookkeeping involving client funds, trust and company formation, and virtual asset services. If you provide any of these, you are a reporting entity and must enrol with AUSTRAC.
What happens if I miss the 29 July 2026 enrolment deadline? +
Failing to enrol with AUSTRAC by 29 July 2026 is a breach of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. AUSTRAC can issue infringement notices, civil penalties up to $18.5 million for corporations, and in serious cases refer matters for criminal prosecution. AUSTRAC has indicated its approach during the transition period is supportive — but only for businesses making genuine compliance efforts. Non-enrolment is treated as deliberate non-compliance.
Do I need a compliance officer if I am a sole trader? +
Yes — every reporting entity must designate a management-level AML/CTF compliance officer and notify AUSTRAC by 29 July 2026. For sole traders and sole practitioners, this is almost always yourself. There is no requirement to hire externally. The compliance officer must be at a management level, understand your AML/CTF obligations, and be the primary point of contact for AUSTRAC correspondence.
What is the difference between Tranche 1 and Tranche 2? +
Tranche 1 of Australia's AML/CTF regime commenced in 2006 and covered financial services, gambling, and bullion dealers. Tranche 2, legislated in 2024, extends the regime to lawyers, accountants, conveyancers, real estate agents, and other professional service providers for the first time. If you are a Tranche 2 professional, you have not previously been subject to AUSTRAC obligations — this is an entirely new compliance requirement.
What records do I need to keep under AML/CTF Tranche 2? +
You must retain records of customer due diligence (CDD) checks, transaction records, your AML/CTF program, risk assessment, and staff training for a minimum of seven years. Records must be stored in a way that allows them to be retrieved within a reasonable time if requested by AUSTRAC. Electronic records are acceptable provided they remain accessible and legible.
Do I need to screen existing clients or just new ones? +
The customer due diligence (CDD) obligations apply to new clients from 1 July 2026. For existing clients, you must apply CDD when there is a trigger event — such as a change in the nature of the relationship, a suspicious matter, or when you have doubts about the accuracy of previously collected information. A risk-based approach determines how quickly you work through your existing client base.
Is there a simplified AML/CTF program available for small practices? +
Yes — AUSTRAC provides a simplified AML/CTF program framework specifically for small, low-risk businesses. A simplified program has fewer documentation requirements and a streamlined risk assessment. To qualify, your practice must be assessed as low ML/TF risk. AUSTRAC's profession-specific starter kits include a simplified program template. You still need to enrol with AUSTRAC, conduct a basic risk assessment, appoint a compliance officer, and train your staff.
Is there a free AML/CTF Tranche 2 course? +
AUSTRAC's own e-learning modules and profession-specific starter kits are free and cover every Tranche 2 obligation — there's no need to pay for a training course to become compliant. This toolkit is built directly from that official guidance: work through the enrolment, program, and register steps above and you'll cover the same ground a paid course would, with citations back to the source material at each step.