AML/CTF Tranche 2
What is Tranche 2?
Tranche 2 is the long-awaited expansion of Australia’s AML/CTF laws. Previously, only banks, casinos, remitters, and gambling sectors were regulated. From 2026, “designated non-financial businesses and professions” (DNFBPs) will face obligations including:
- Customer Due Diligence (CDD)
- Transaction monitoring
- Suspicious Matter Reporting
- AUSTRAC enrolment
- Record-keeping for 7 years
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Tranche 2 Industries Captured
Industries below will be captured by the Tranche 2 reforms on and from 1 July 2026
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Tranche 2 AML Obligations at a Glance
Tranche 2 entities will be faced with key obligations, including enrolling with AUSTRAC, putting AML procedures and registers in place, conducting customer due diligence, monitoring clients, reporting suspicious matters and keeping robust records. |
Enrol with AUSTRAC
Provide and maintain accurate details about your business so AUSTRAC can recognise you as a reporting entity and oversee your AML/CTF compliance
Maintain AML Procedures, Registers and Controls
Keep clear procedures, registers and controls that show how you assess risk, verify customers, monitor activity and escalate issues under your AML/CTF obligations.
Conduct Customer Due Diligence (CDD)
Identify and verify your customers, understand who ultimately owns or controls them, and apply extra checks where the money laundering or terrorism financing risk is higher.
Perform Ongoing Monitoring
Monitor customers and their transactions over time, review changes in their risk profile and follow up on activity that appears unusual or inconsistent with what you know about them.
Submit Suspicious Matter Reports
Report any activity you reasonably suspect may involve money laundering, terrorism financing or other serious crime to AUSTRAC within the required timeframes.
Keep Accurate Records
Maintain clear records of your AML/CTF program, customer due diligence, transactions and reports for the required period so you can demonstrate compliance if asked.
Meet The Only End-to-End Tranche 2 Solution
AML House delivers more than software–we provide a fully supported compliance ecosystem designed for Australian businesses preparing for Tranche 2.
Built for professionals who cannot afford guesswork, our platform combines legal-grade documentation, integrated KYC/KYB tools, practical workflows and unlimited access to our team of lawyers who specialise in AML/CTF regulation.
With AML House, you don’t just manage compliance — you get access to a complete solution and legal team – 24/7, 365 days per year.
What makes us different:
- Legal expertise: Built and supported by Australian lawyers who understand your industry and obligations.
- Complete solution: A true end-to-end compliance platform - not just KYC or templates.
- SMB-focused: Designed for small and medium businesses, not enterprise-scale systems.
- Transparent pricing: Clear, fixed-fee pricing with no hidden charges or unpredictable costs.
- Ongoing support: From set-up to monitoring, training updates and unlimited legal and compliance support, we help you stay compliant.
Get Your Free Initial Consultation
Request a Free Consultation with one of our experienced AML Lawyers today.
Your Actionable ‘AML/CTF’ Prep Kit for Real Estate, Accounting & Law Firms
Our free “Prep Kit” for real estate agents, accountants, and lawyers provides actionable steps and key information to get your firm ready now.
Don’t wait until 2026 to prepare for Tranche 2 AML/CTF. Start your Tranche 2 preparation today.
Your Actionable ‘AML/CTF’ Prep Kit for
Real Estate, Accounting & Law Firms
Our free “Prep Kit” for real estate agents, accountants, and lawyers provides actionable steps and key information to get your firm ready now.
Don’t wait until 2026 to prepare for Tranche 2 AML/CTF. Start your Tranche 2 preparation today.
Why Choose AML House?
AML House is your dedicated partner in navigating the complexities of ongoing AML compliance. We offer specialist expertise and proactive support, ensuring you not only meet your regulatory obligations but also build a resilient and continuously compliant business.
Proactive AML Regulatory Expertise
Our team are experts in AML/CTF regulations and proactively monitor the evolving landscape, ensuring you receive timely and accurate guidance to stay ahead of changes.
Tailored Ongoing Compliance Support
We provide customized support packages designed to meet your specific business needs and ensure continuous compliance, adapting to your unique challenges and requirements.
Practical & Actionable Regulatory Advice
We deliver clear, practical, and actionable advice that you can readily implement, ensuring your compliance efforts are effective and seamlessly integrated into your operations.
Get Your Free Initial Consultation
Request a Free Consultation with one of our experienced AML Lawyers today.
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Free AML/CTF Guides & Checklists
When is your Next AML Audit Due?
Don’t wait until the last minute to think about your AML Audit.
Our basic assessment offers a quick and easy way to estimate your AML Audit due date. This early insight is invaluable, allowing you to proactively allocate resources, gather documentation, and get truly ahead of your AML Audit.
AML/CTF Compliance Guide for Professional Services
Plain-English guide demystifying AML/CTF obligations for lawyers and accountants under Tranche 2. Step-by-step advice to build compliance, manage risk, and protect your professional services firm.
AML/CTF Essentials for Real Estate Agents
Straightforward AML/CTF guide tailored for real estate agents. Learn customer due diligence, reporting duties, and best practices to keep you compliant under AML/CTF Tranche 2.
Guide to AML/CTF Audits for Designated Entities
Complete guide on preparing for AML/CTF audits across all industries. Understand audit expectations, avoid common pitfalls, and confidently demonstrate your business’s compliance.
Market-Leading, Comprehensive AML Services
AML House offers a comprehensive suite of specialised AML/CTF services designed to address all aspects of your compliance needs. From independent audits to program development, legal support, and innovative platform solutions, we provide end-to-end expertise to ensure robust AML compliance and mitigate financial crime risks.
Independent AML Audits
Ensure regulatory compliance and program effectiveness with our expert independent AML audits, providing actionable insights to strengthen your AML framework.
AML Program Development & Management
Develop, revise, or replace your AML Program and related documentation with our expert guidance, ensuring a robust and compliant foundation.
Ongoing AML Compliance & Regulatory Support
Navigate evolving AML obligations with confidence through our ongoing service packages, providing continuous expert support and regulatory updates.
Specialist AML Legal Advice & Support
Access expert legal counsel for all AML/CTF matters, from program drafting and system reviews to proactive risk mitigation and strategic advice.
Marketplace for Registered Entities
Streamline transactions in digital currency exchange and remittance provider markets with our specialised marketplace for buying and selling registered entities.
Innovative AML Compliance Platform
Simplify and centralise your AML/CTF management with our cutting-edge online platform, providing a one-stop shop for all your compliance needs.
Why Choose AML House?
AML House is your dedicated partner in navigating the complexities of ongoing AML compliance. We offer specialist expertise and proactive support, ensuring you not only meet your regulatory obligations but also build a resilient and continuously compliant business.
Proactive AML Regulatory Expertise
Our team is experts in AML/CTF regulations and proactively monitor the evolving landscape, ensuring you receive timely and accurate guidance to stay ahead of changes.
Tailored Ongoing Compliance Support
We provide customised support packages designed to meet your specific business needs and ensure continuous compliance, adapting to your unique challenges and requirements.
Practical & Actionable Regulatory Advice
We deliver clear, practical, and actionable advice that you can readily implement, ensuring your compliance efforts are effective and seamlessly integrated into your operations.
Get Your Free Initial Consultation
Request a Free Consultation with one of our experienced AML Lawyers today.
Insights Library
Practical AML/CTF Guides & Insights
Unlock free AML/CTF guides, checklists, and insights in our regularly updated Insights Library, written by our AML lawyers & experts.
Who We Are
Founded by senior financial services lawyer Peter Hagias, AML House specialises in independent AML audits and AML/CTF compliance for businesses across Australia. Our expert team brings together deep legal, regulatory, and compliance expertise to deliver practical solutions and robust AML frameworks.
Peter and the AML House team are dedicated to guiding businesses through the complexities of AML/CTF regulations, providing industry-leading advice and support. We are committed to proactive service and regulatory excellence, empowering our clients to confidently navigate their AML obligations.
Frequently Asked Questions About AML/CTF Programs
When does Tranche 2 AML/CTF compliance begin?
AUSTRAC has confirmed 31 March 2026 as the start of enrolment for existing entities and VASPs, with 1 July 2026 marking the commencement of Tranche 2 obligations for real estate, lawyers, accountants, conveyancers, and other designated professions.
Which industries are captured by Tranche 2?
Tranche 2 extends AML/CTF obligations to “designated non-financial businesses and professions” (DNFBPs), including:
Real estate agents and developers
Lawyers and conveyancers
Accountants and tax practitioners
Trust & company service providers
Virtual Asset Service Providers (VASPs)
What are the main obligations under Tranche 2?
Tranche 2 extends AML/CTF obligations to “designated non-financial businesses and professions” (DNFBPs), including:
Real estate agents and developers
Lawyers and conveyancers
Accountants and tax practitioners
Trust & company service providers
Virtual Asset Service Providers (VASPs)
What are the risks of non-compliance?
Failure to comply may result in:
Civil penalties from AUSTRAC
Investigations and enforcement actions
Significant reputational damage
Loss of client trust and business opportunities
Should small businesses prepare too?
Yes. Tranche 2 obligations apply regardless of size. Even sole practitioners and boutique firms must comply. Early preparation ensures smoother enrolment and reduced compliance costs.
What support will AUSTRAC provide?
AUSTRAC is releasing phased support tools, including sector guidance and starter kits in late 2025, followed by an enrolment platform in early 2026.
How can AML House support my Tranche 2 compliance?
AML House provides end-to-end solutions including:
AUSTRAC enrolment guidance
Profession-specific AML/CTF Programs
Digital CDD and transaction monitoring tools
Staff training and workshops
Independent reviews and audits
Ongoing advisory support to keep you compliant and confident
Can external experts help with AML/CTF compliance?
Yes, engaging experienced AML consultants, lawyers, and auditors can provide valuable assistance. They offer expertise in program development, risk assessments, training, and ongoing support to navigate the complexities of AML/CTF compliance and reduce regulatory risk.