Tranche 2 AML compliance is now in effect

Tranche 2 timeline

Tranche 2 starts 1 July 2026.

Australia's expanded AML/CTF regime is on the way. Here's exactly where the reform sits today — and what you need to do before it goes live.

Start a free trialSee AUSTRAC requirements
Today
24 August 2026
Days until Tranche 2 live
0days

1 July 2026 — Tranche 2 obligations begin for newly covered professions.

Where we are

You're in the tranche 2 live phase.

New gatekeeper professions are subject to AML/CTF obligations.

Done
Legislation
Done
Rules & guidance
Done
Compliance window
Now
Tranche 2 live

Milestones

The full Tranche 2 timeline.

Every legislative and regulatory milestone, with today's position marked.

  1. 29 November 2024Done

    AML/CTF Amendment Act passes Parliament

    Tranche 2 reform becomes law, extending AML/CTF obligations to gatekeeper professions.

  2. 10 December 2024Done

    Royal Assent

    The Act is officially enacted.

  3. June 2025Done

    Public consultation on draft Rules

    AUSTRAC opens consultation on the detailed AML/CTF Rules.

  4. August 2025Done

    Final AML/CTF Rules published

    The complete regulatory framework is released.

  5. 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.

  6. 31 March 2026Done

    Existing entities & VASP deadline

    Current AUSTRAC reporting entities and virtual asset service providers must be compliant with the new framework.

  7. 1 July 2026Done

    Tranche 2 commences

    New gatekeeper professions (legal, accounting, real estate, conveyancing, trust services, precious-metals and stones dealers) must be fully compliant.

  8. Today
    24 August 2026 — you are here

Two deadlines

Different deadlines apply to different businesses.

31 March 2026
Passed

Existing AUSTRAC reporting entities & virtual asset service providers (VASPs)

1 July 2026
Passed

New Tranche 2 professions — legal, accounting, real estate, conveyancing, trust services, precious-metals and stones dealers

What you'll need to do

Three obligations sit at the heart of Tranche 2.

The platform supports all of these. 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.

Read the full AUSTRAC requirementsOr check if Tranche 2 applies to you

FAQ

Common questions about Tranche 2.

How long does setting up an AML/CTF program take?
On Instant Compliance, the core program is generated automatically from your business profile in under 30 minutes. Most teams are operational within a day.
Do I need to train every staff member?
Yes — anyone who performs a designated service or has access to customer information needs role-appropriate AML training. We provide a short training module each staff member can complete in about 5 minutes.
What if I miss the 1 July 2026 deadline?
Operating without an AML/CTF program after the deadline can expose your business to civil penalties from AUSTRAC and, in serious cases, criminal liability. Starting now leaves plenty of buffer.
How do you integrate with my existing software?
We integrate with practice-management and CRM tools used by Tranche 2 industries — Xero, MYOB, PEXA, Clio, AgentBox, REIWA, and more. The browser extension also works on any web app.

0 days left

Ready to get ahead of Tranche 2?

Generate your AML/CTF program, run KYC, and start the clock on training in under 30 minutes.

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