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AUSTRAC Tranche 2 deadline: 1 July 2026

AUSTRAC Tranche 2
AML Compliance Software

Purpose-built for Australian accountants, lawyers, conveyancers, and real estate agents. Get your AML/CTF programme ready before the 1 July 2026 deadline — in under an hour.

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Who does AUSTRAC Tranche 2 apply to?

The AML/CTF Amendment Act 2024 brings approximately 80,000 Australian businesses into the AUSTRAC reporting regime for the first time.

Accountants & Tax Agents
Including bookkeepers and BAS agents providing designated accounting services.
Solicitors & Barristers
Legal practitioners involved in property transactions, business structuring, and trust administration.
Conveyancers
Licensed conveyancers handling property settlements and transfers.
Real Estate Agents
Agents involved in the sale, purchase, or leasing of real property.
Financial Advisers
Advisers providing financial product advice as a designated service.
Dealers in Precious Metals & Stones
Jewellers and bullion dealers who accept cash payments above $10,000.

Not sure if your business is covered? Contact us or review the AML/CTF Amendment Act 2024 on the AUSTRAC website.

Your Tranche 2 obligations

From 1 July 2026, Tranche 2 businesses must meet these six key obligations under the AML/CTF Act 2006.

1
Enrol with AUSTRAC
Register your business as a reporting entity through the AUSTRAC Online portal.
2
Adopt an AML/CTF Programme
Develop a written Part A (risk management) and Part B (customer due diligence) programme tailored to your business.
3
Perform Customer Due Diligence
Verify client identity and assess risk before providing designated services. Enhanced CDD for high-risk clients.
4
Submit Suspicious Matter Reports
Report any suspected money laundering or terrorism financing to AUSTRAC within 24 hours.
5
Keep Records for 7 Years
Maintain transaction records, CDD records, and programme documentation for at least 7 years.
6
Train All Staff
Provide initial AML/CTF training and annual refreshers to all employees who provide designated services.

How AML Shield covers every obligation

One platform. Everything a Tranche 2 business needs.

AML/CTF Programme (Part A & B)

AI generates your complete written programme in minutes. Tailored to your business type and designated services. Download as a Word document.

ML/TF Risk Assessment

Answer guided questions about your client types, services, and geographic exposure. AML Shield generates a compliant, AUSTRAC-ready risk assessment document.

Customer Due Diligence (CDD)

Log KYC checks for every client. Standard and enhanced CDD workflows. Review reminders. Full record of all checks for AUSTRAC audit purposes.

Suspicious Matter Reports (SMR)

Track every SMR with reference numbers, dates, and status. Maintain your complete SMR history in one place.

Staff Training Records

Record initial and refresher AML/CTF training for each staff member. Automatic annual reminders so your training obligations stay current.

7-Year Audit Trail

Every action logged automatically with timestamps. Immutable records retained for 7 years as required by the AML/CTF Act 2006.

The Tranche 2 timeline

Key dates for AUSTRAC Tranche 2 compliance.

Passed — 2024
AML/CTF Amendment Act 2024

The Act passed Parliament, extending AUSTRAC obligations to Tranche 2 professions for the first time.

Now — prepare
Build your programme

Use this time to enrol with AUSTRAC, adopt your programme, and train your staff before the compliance date.

Deadline
1 July 2026

Tranche 2 businesses must be fully compliant. Civil penalties apply for non-compliance.

Tranche 2 questions answered

What is AUSTRAC Tranche 2?
Tranche 2 refers to the AML/CTF Amendment Act 2024, which extends AUSTRAC reporting obligations to accountants, lawyers, conveyancers, real estate agents, financial advisers, and dealers in precious metals and stones by 1 July 2026.
What is an AML/CTF programme?
An AML/CTF programme is a written document explaining how your business identifies, manages, and mitigates money laundering and terrorism financing risks. It includes Part A (your risk management approach) and Part B (your customer due diligence procedures). AUSTRAC requires all Tranche 2 businesses to have one.
How long does it take to build an AML/CTF programme?
Most AML Shield users complete their risk assessment and generate a full AML/CTF programme in under an hour. The AI-guided workflow asks the right questions and produces a document tailored to your business type and designated services.
Is the generated programme AUSTRAC-compliant?
AML Shield generates programmes referenced to the AML/CTF Act 2006 and AUSTRAC guidance. We recommend having your compliance adviser review the document before final adoption. AML Shield is not a substitute for legal advice.
What are the penalties for Tranche 2 non-compliance?
Civil penalties for failing to comply with AUSTRAC obligations can reach up to $18.5 million per contravention for bodies corporate. Criminal penalties can also apply for serious contraventions. The best protection is getting your programme in place well before the deadline.

Related resources

AML/CTF Compliance Guide

Everything Australian Tranche 2 businesses need to know about AML/CTF obligations.

AML/CTF Programme Guide

What goes into a compliant AML/CTF programme for a Tranche 2 business.

AML Software for Small Businesses

Why AML Shield is built for Australian SMEs, not enterprise banks.

Get Tranche 2 compliant before 1 July 2026

AML Shield is purpose-built for Australian Tranche 2 businesses. Build your AML/CTF programme today — it takes less than an hour.

Build Your Programme Free

Free plan available. No credit card required.