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With Tranche 2 reforms landing on 1 July 2026, thousands of accountants, law firms and jewellers across Australia are about to face AML/CTF compliance obligations for the very first time. No prior experience. No existing frameworks. And until recently, no real guidance on where to begin. Enter AUSTRAC's Program Starter Kits. We've spent the past week or so pulling these kits apart. Stress testing them against real client scenarios, mapping risk assessments into structured dat

(Same goes for taking on the role of AML Compliance Officer) Every January, the good old New Year's Resolution leads to gyms filling up with people who sign up with the best intentions. New shoes, fresh activewear, maybe even a personal training session or two. It feels productive. Like the hard part is done. But reality eventually shows up. The soreness. The time commitment and routine. The fact that results only come if you keep turning up, week after week, even when motiva

Your Business Roadmap for Managing Financial Crime Risk If you've already read our guide on AML/CTF risk assessments, you'll know that identifying your risks is the first critical step for Tranche 2 firms. But what comes next? Once you know where your vulnerabilities are, you need a plan to manage them. That's where your AML/CTF Program comes in. From 1 July 2026, real estate agencies, law firms and accounting practices providing designated services must have a documented AML

For many real estate agencies, lawyers and accountants in smaller centres, anti-money laundering can feel like a 'big city problem'. Something driven by capital city crime, large institutions and headlines that feel a long way from home. But harm does not stay in capital cities. In regional and remote communities, where there are fewer services and fewer safety nets, the downstream impact can be more concentrated and more devastating. Ice and other drugs do not stay in capita

A Plain-English Guide for Tranche 2 Firms From 1 July 2026, many Australian real estate, legal and accounting firms will fall under new anti-money-laundering laws known as the AML/CTF Tranche 2 reforms. One of the most important things these businesses must do is a risk assessment. But what does that really mean in everyday terms? Let’s break it down. Why Risk Assessments Matter for Tranche 2 Businesses Before Tranche 2, many professional services weren’t regulated under Aus

For many businesses, AML compliance is one of those responsibilities that can never be ignored, but is rarely anyone’s favourite part of the job. It is complex, often resource intensive, constantly changing and unforgiving when mistakes occur. Yet it is also essential. Done properly, AML compliance protects your business, your customers and society at large. Done poorly, it becomes a ticking time bomb of regulatory exposure, operational disruption, reputational damage and mou

In October 2025 AUSTRAC released its core guidance to support businesses in preparing for the major changes to Australia’s AML/CTF regime. This guidance is available on AUSTRAC’s website: https://www.austrac.gov.au/about-us/amlctf-reform The purpose of this guidance is to clarify how the revised obligations will apply, describe what good looks like under the new regime and help both current reporting entities and newly-regulated sectors to begin the transition. Why This Matt

There is no easy setting when it comes to customer screening. If you tune too tightly, a true match slips through and the regulator will ask why. If you loosen the rules, your team drowns in noise and meaningful risk is buried under a large volume of false positive alerts. Somewhere in the middle lies a configuration that might work, but your system will not tell you where that is. Neither will your KYC solution vendor. Welcome to the ambiguous world of AML screening, the spa

In the past Australian reporting entities could take comfort in a clearly defined rulebook. The AML/CTF framework gave prescriptive instructions, safe harbour provisions and checklists that made customer due diligence feel predictable and manageable. We knew the rules, we ticked the boxes and we trusted that doing so would keep us safe. That sense of safety is beginning to fade. With the latest reforms reshaping the landscape, clarity is giving way to flexibility. The law is

If your business provides certain 'designated services' in Australia, you will likely have heard about the upcoming changes to anti-money laundering and counter terrorism financing regulation. The reforms are being driven by the need to update the regulatory framework and bring in new sectors under oversight. These changes are set out in the new Anti‑Money Laundering and Counter‑Terrorism Financing Rules 2025 (the “Rules”) that were tabled in Parliament on 29 August 2025. In