Deadline: July 1, 2026

What is AML/CTF Tranche 2?

Tranche 2 extends Australia's Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act to real estate agents, accountants, lawyers, and high-value dealers.

Who's affected?

Real Estate Agents

Property sales & high-value leases

Accountants

Trust & company service providers

Lawyers & Conveyancers

Property transactions & trust work

High-Value Dealers

Jewellers, car dealers ($10k+ sales)

Key requirements

Customer Due Diligence (CDD)

Verify the identity of all clients using approved methods (photo ID + biometric liveness check).

Ongoing Customer Due Diligence (OCDD)

Monitor clients throughout the relationship and update verification as needed.

Record Keeping

Maintain all verification and transaction records for 7 years.

Suspicious Matter Reporting

Report any suspicious activity to AUSTRAC within 24 hours.

AML/CTF Program

Develop and maintain a written compliance program with staff training.

Penalties for non-compliance

  • • Civil penalties: Up to $27.5 million per breach
  • • Criminal prosecution: Up to 10 years imprisonment for serious offences
  • • Reputational damage: Public reporting of breaches
  • • Business closure: AUSTRAC can shut down non-compliant operations

Get compliant today

Don't wait until the deadline. Start verifying clients now.

Start verifying