From 1 July 2026, Australia's AML/CTF regime extends to Tranche 2 businesses - and accountants and accounting practices are squarely in scope when they provide a designated service. AML/CTF Compliance helps you meet the new obligations without building everything from a blank page.
When are accountants captured?
You are captured when you provide a designated service under the AML/CTF regime. For accountants, that typically includes assisting a client to buy, sell or transfer real estate or a business, managing client money or assets, and helping to create, operate or manage companies, trusts or other legal arrangements. Not every activity is a designated service, so the built-in Tranche 2 readiness check helps you work out whether, and for which services, you are captured. Confirm your position against AUSTRAC guidance.
What you need to have in place
- Enrol with AUSTRAC as a reporting entity.
- An AML/CTF Program - a business-wide ML/TF risk assessment plus the policies, procedures, systems and controls that manage those risks.
- An AML/CTF Compliance Officer to own the program.
- Customer due diligence - identify and verify customers and beneficial owners before you provide a designated service, and keep it current.
- Reporting - lodge suspicious matter reports, and any threshold or international transfer reports, on time.
- Records, training and an independent review at appropriate intervals.
How AML/CTF Compliance helps accountants
It turns the obligations into a workflow: build and maintain your AML/CTF Program from guided templates, run structured CDD with PEP and sanctions screening, score your ML/TF risk across customers, services, channels and jurisdictions, track your AUSTRAC reporting register, and export a review-ready report for your independent reviewer or principal. Everything stays in your browser - the contents of your program and CDD files are never uploaded.
Frequently asked questions
Are accountants captured by the Tranche 2 reforms?
Accountants are captured when they provide a designated service, such as assisting with real estate or business transactions, managing client money or assets, or helping create or manage companies and trusts. The readiness check helps confirm your position.
Do I need an AML/CTF Compliance Officer?
Reporting entities appoint an AML/CTF Compliance Officer to own the program day to day. The tool documents the appointment and the responsibilities as part of your program.