Overview
The Tranche 2 AML/CTF obligations explained, including the designated service test that decides whether your firm is captured and the dates obligations began.
Enrol with AUSTRAC
What AUSTRAC enrolment is, who must do it, the 31 March 2026 opening date, and the details to have ready before you start.
Appoint Your AMLCO
Who can be appointed as AML/CTF Compliance Officer, the fit and proper test, the 28 day appointment deadline and the 14 day AUSTRAC notification.
Build Your Program
What an AML/CTF program must contain under the current law, who approves it, and the rule to review it when things change and at least every three years.
Customer Due Diligence
The customer due diligence obligation, including identifying and verifying each customer, ongoing monitoring, and enhanced due diligence when risk is high.
Reporting
The four reports a reporting entity may need to file with AUSTRAC, covering suspicious matters, threshold transactions, cross-border movements, and annual compliance.
Record Keeping
The Part 10 record keeping obligation, the seven year retention rule, what must be kept, and why the records have to be producible.
Staff Training
The AML/CTF training obligation, who must be trained, what it must cover, and why training records have to be kept.
Review & Evaluation
The three distinct program assurance activities under the AML/CTF Act, including the independent evaluation required at least once every three years.