reforms in australia.
As AML/CTF obligations extend to Tranche 2 professions, seamless helps you stay ahead with expert support and practical tools.
Request a FREE 30-minute consultation with an AML/CTF expert.
Tranche 2 Reforms
Tranche 2 will extend AML/CTF obligations to additional sectors. These reforms have been legislated and will take effect from 1 July 2026.
New reporting sectors include:
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Legal professionals
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Accountants and tax agents
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Real estate agents
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High-value goods dealers (e.g. jewellery, vehicles, precious metals)
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Trust and company service providers
Obligations for Tranche 2 Entities
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Enrol with AUSTRAC between 31 March and 1 July 2026
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Develop and implement an AML/CTF Program (Parts A & B)
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Appoint a Compliance Officer
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Conduct customer due diligence, including beneficial ownership checks
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Monitor transactions and submit SMRs and TTRs as required
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Maintain records for at least 7 years
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Undergo regular independent compliance reviews
Our Services for Australian Entities
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AML/CTF Program design and implementation
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Risk assessments and internal control design
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Staff training and compliance advisory
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AUSTRAC enrolment and onboarding support
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Independent AML/CTF reviews
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Tranche 2 readiness and implementation planning
Contact us to ensure your AML/CTF framework meets AUSTRAC requirements before enforcement begins.
References
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AUSTRAC - Tranche 2 Obligations Summary
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AML/CTF Amendment Act 2024 - Australian Government Legislation Register
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AUSTRAC - How to Enrol as a Reporting Entity
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AUSTRAC - AML/CTF Compliance Resources