From 1 July 2026, Australia's AML/CTF regime extends to Tranche 2 businesses - and dealers in precious metals, stones and products 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 precious-metal dealers captured?
You are captured when you provide a designated service under the AML/CTF regime. For precious-metal dealers, that typically includes buying or selling precious metals, precious stones, or products made from them, where the transaction meets the relevant threshold. 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 precious-metal dealers
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 precious metal dealers captured by Tranche 2?
Dealers in precious metals and stones are captured when they provide a designated service, typically buying or selling metals, stones or products at or above a relevant threshold. The readiness check and AUSTRAC guidance help you confirm.
Does the threshold matter?
Yes. Whether a transaction is a designated service can depend on a threshold. Confirm the current threshold in AUSTRAC guidance; the tool helps you record and manage transactions either way.