Tranche 2 timeline
Tranche 2 started 1 July 2026.
Australia's expanded AML/CTF regime is now in force. Here's where the reform sits today, and what reporting entities need to have in place.
Tranche 2 obligations commenced on 1 July 2026 for newly covered professions.
Where we are
You're in the tranche 2 live phase.
New gatekeeper professions are subject to AML/CTF obligations.
Milestones
The full Tranche 2 timeline.
Key legislative and regulatory milestones, with today's position marked.
- 29 November 2024Done
AML/CTF Amendment Act passes Parliament
Tranche 2 reform becomes law, extending AML/CTF obligations to gatekeeper professions.
- 10 December 2024Done
Royal Assent
The Act is officially enacted.
- June 2025Done
Public consultation on draft Rules
AUSTRAC opens consultation on the detailed AML/CTF Rules.
- August 2025Done
Final AML/CTF Rules published
The complete regulatory framework is released.
- December 2025Done
Sector-specific guidance finalised
AUSTRAC publishes detailed guidance for each Tranche 2 industry: real estate, legal, accounting, trust services, dealers in precious metals and stones, VASPs.
- 31 March 2026Done
Existing entities & VASP deadline
Current AUSTRAC reporting entities and virtual asset service providers must have their obligations under the new framework in place from this date.
- 1 July 2026Done
Tranche 2 commences
New gatekeeper professions (legal, accounting, real estate, conveyancing, trust services, precious-metals and stones dealers) must have their AML/CTF obligations in place from this date.
- Today18 September 2026: you are here
Two deadlines
Different deadlines apply to different businesses.
Existing AUSTRAC reporting entities & virtual asset service providers (VASPs)
Important: Instant Compliance is software, not compliance advice.
Our tools help you prepare, record and manage an AML/CTF program. They do not provide legal or compliance advice and do not guarantee compliance with the AML/CTF Act. Your business remains responsible for meeting its own obligations and for every decision it makes using these tools. Instant Compliance is an independent software provider and is not affiliated with, endorsed by or acting on behalf of AUSTRAC or any government body. Read what we do and what stays your responsibility
New Tranche 2 professions: legal, accounting, real estate, conveyancing, trust services, precious-metals and stones dealers
Important: Instant Compliance is software, not compliance advice.
Our tools help you prepare, record and manage an AML/CTF program. They do not provide legal or compliance advice and do not guarantee compliance with the AML/CTF Act. Your business remains responsible for meeting its own obligations and for every decision it makes using these tools. Instant Compliance is an independent software provider and is not affiliated with, endorsed by or acting on behalf of AUSTRAC or any government body. Read what we do and what stays your responsibility
What you'll need to do
Three obligations sit at the heart of Tranche 2.
Instant Compliance offers tools for each of these areas. Here's the short version.
Customer due diligence
Identify and verify every customer. Run beneficial-ownership checks on companies and trusts. Apply enhanced due diligence to higher-risk customers.
AML/CTF program & risk assessment
A written program describing how you assess money-laundering risk, the controls you apply, and how your staff are trained, kept current and reviewed independently.
Ongoing monitoring & reporting
Monitor customer activity, lodge suspicious matter reports (SMRs) and threshold transaction reports (TTRs) with AUSTRAC, and keep records for seven years.
FAQ
Common questions about Tranche 2.
How long does setting up an AML/CTF program take?
Do I need to train every staff member?
What if I miss the 1 July 2026 deadline?
How do you integrate with my existing software?
Obligations are in force
Ready to get ahead of Tranche 2?
Generate a draft AML/CTF program for your review, run KYC checks and assign staff training.