Anti-money laundering and counter terrorism laws cover thousands more businesses
Criminals are exploiting Australia’s real estate market and complex company structures to hide and move illicit money - it’s something financial crimes regulator AUSTRAC says it sees regularly.
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From the 1 st of July 2026, Australia's landmark anti-money laundering and counter-
terrorism financing (AML/CTF) reforms begin and extend AUSTRAC oversight to
thousands of newly regulated "Tranche 2" businesses. These newly regulated
sectors are legally required to fully comply with comprehensive AML/CTF
obligations.
AUSTRAC CEO Brendan Thomas said they are focussed on where criminals are
actively laundering money.
“We see criminals targeting areas like real estate and professional services to move
and hide illicit money, often using trust and company structures to make it harder to
detect,” Mr Thomas said.
Newly Regulated Industries
The expanded laws apply to businesses providing the following designated services:
- Legal professionals, conveyancers, and accountants
- Real estate professionals
- Dealers in precious stones, precious metals, and high-value products
- Trust and company service providers
- Providers of certain virtual asset services
Core Compliance Obligations
If your business provides any of these designated services, you must fully implement
and meet the following AUSTRAC requirements:
- AML/CTF Programs: Develop and implement a tailored risk-based program to identify, mitigate, and manage money laundering and terrorism financing risks.
- Customer Due Diligence: Verify the identities of your customers, conduct ongoing monitoring, and assess risk profiles.
- Reporting: Submit suspicious matter reports (SMRs) and threshold transaction reports directly to AUSTRAC.
- Enrolment: Newly regulated businesses must enrol with AUSTRAC on AUSTRAC Online.
For more details on transitional rules and specific compliance expectations, review
the AUSTRAC AML/CTF Transitional Rules page.