Published: February 2026
Australia’s AML/CTF laws are expanding to “Tranche 2”, bringing parts of professional services into scope
If you’re a bookkeeper, payroll officer or small-business advisor, these changes will shape onboarding, record-keeping and reporting from 1 July 2026 (with enrolment opening 31 March 2026). Read more to learn.
Table of Contents
What “AML Tranche 2” Means
It’s the next phase of Australia’s Anti-Money Laundering and Counter-Terrorism Financing regime, extending obligations beyond banks and other financial institutions to selected professional services.
Who is in scope (DNFBPs)
- Accountants & bookkeepers
- Tax agents & BAS agents
- Lawyers
- Real estate professionals
- Trust & company service providers
- Dealers in precious metals & stones
That’s why this is front-of-mind across VET, compliance and RTO circles.
What affected businesses need to do
Affected businesses must:
- Develop and maintain an AML/CTF program (risk assessment + controls).
- Conduct customer due diligence (CDD) and verify client identity (KYC) before providing designated services.
- Monitor transactions and apply ongoing checks based on risk.
- Keep records in an auditable, retrievable way.
- Submit reports to AUSTRAC where required (e.g. suspicious matter reports).
- Train staff in AML/CTF obligations and keep training evidence.
Even very small accounting and bookkeeping practices will be captured.
Key dates to note
- 31 March 2026 – AUSTRAC opens enrolment for newly regulated Tranche 2 sectors.
- 1 July 2026 – Tranche 2 AML/CTF obligations commence.
- Within 28 days of starting a designated service – you must enrol with AUSTRAC (for those active on 1 July, that’s typically by 29 July 2026).
Not sure if your services are “designated”? Check AUSTRAC’s Tranche 2 guidance and tools to confirm scope before you act.
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— The Applied Education team
