Tranche 2 is the extension of Australia's anti-money-laundering and counter-terrorism-financing (AML/CTF) regime to a new group of businesses - often called the "tranche-2 entities" - that provide certain professional and dealer services.
Who is captured, and from when
From 1 July 2026, the regime extends to designated services commonly provided by lawyers and conveyancers, accountants, real estate professionals, trust and company service providers, and dealers in precious metals and stones. You are captured when you provide a designated service, not simply because of your profession.
What the obligations are
- Enrol with AUSTRAC as a reporting entity.
- Have an AML/CTF Program - a business-wide ML/TF risk assessment plus AML/CTF policies, procedures, systems and controls.
- Appoint an AML/CTF Compliance Officer.
- Carry out customer due diligence - identify and verify customers and beneficial owners.
- Submit reports (such as suspicious matter reports) to AUSTRAC on time.
- Keep records, train staff, and arrange an independent review of your program.
How to get ready
The practical path is to confirm whether a designated service captures you, assess your ML/TF risk, put your program and CDD process in place, and set up your reporting register. AML/CTF Compliance provides a readiness check and turns each obligation into a guided workflow. For the customer side, see the customer due diligence checklist.
Frequently asked questions
When does AML/CTF Tranche 2 start?
The new obligations apply to the tranche-2 professions from 1 July 2026. Confirm timing and how it applies to your services against AUSTRAC guidance.
Who does Tranche 2 apply to?
It applies to businesses providing designated services, commonly lawyers and conveyancers, accountants, real estate professionals, trust and company service providers, and dealers in precious metals and stones.
Does it apply to my whole business?
You are captured in relation to the designated services you provide, not automatically because of your profession. A readiness check helps you work out which services are in scope.