AUSTRAC regulatory expectations for the implementation of the AML/CTF reforms

AUSTRAC has released a statement of regulatory expectations to support businesses to implement the changes under the AML/CTF reforms.

The reforms to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) will commence on 1 July 2026 for tranche 2 entities being businesses in the legal, accounting professions, real estate and jeweller industries.

For businesses currently regulated the reforms will commence on 31 March 2026.

For those businesses who will come under regulation next July, the regulator AUSTRAC expects that by 1 July 2026, these businesses will:

• be enrolled as a reporting entity. Businesses will be able to access the online enrolment system from 31 March 2026

• have an AML program, either adopting the starter program provided by AUSTRAC or have developing their own.

• have an AML/CTF Compliance Officer

• have trained your staff on your AML/CTF program and processes

• be ready to ask clients questions and report suspicious activity.

After 1 July 2026, AUSTRAC will focus its enforcement in the newly regulated sectors on entities:

• who wilfully ignore the obligation to enrol

• who AUSTRAC suspect are complicit with, or wilfully blind to, money laundering in their business.

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How Opportuna Legal can help

Opportuna Legal advises businesses on AML/CTF compliance, including preparing for the reformed regulatory framework and meeting AUSTRAC’s expectations. If you need guidance on enrolment, AML programs, or compliance obligations, please contact Opportuna Legal.

Contact: reception@opportunalegal.com.au | +61 8 6110 3748

Anthony Jarvis | Director, Opportuna Legal

Anthony Jarvis is the Director of Opportuna Legal, a corporate and commercial law firm based in Perth, Australia. Anthony advises private companies, founders, and boards on M&A, capital markets, corporate governance, and commercial contracts.

This article is general information only and does not constitute legal advice. Readers should obtain professional advice specific to their circumstances before acting on any of the information contained in this article.