Tranche 2 is here

Are you ready for Australia’s expanded AML/CTF obligations?

What is Tranche 2?

Australia’s AML/CTF Tranche 2 reforms, passed on 29 November 2024, expand the scope of the AML/CTF legislation to cover additional high-risk services, known as “tranche 2” services. These include services provided by lawyers, accountants, trust and company service providers, real estate agents, and dealers in precious metals and stones.

Why Tranche 2 matters

Tranche 2 is designed to close the gaps in Australia’s AML/CTF framework. Law firms, accountants, real estate agents, and other professionals often handle high-value transactions that can be exploited for money laundering and financial crime. By extending AML/CTF regulations to these sectors, Australia is aligning with global standards to increase transparency and prevent illicit financial activities.

New AML/CTF obligations under the Amendment Act will apply from 1 July 2026 for Tranche 2 entities that provide new designated services. These entities will be able to enrol with AUSTRAC from 31 March 2026.

Early preparation will be key to ensuring a smooth transition and avoiding compliance risks down the line.

The timeline

Now – Assess whether your services are covered and prepare your processes and documents.

31 March 2026 – Enrolment with AUSTRAC opens

1 July 2026 – AML/CTF obligations become enforceable

29 July 2026 – Deadline to be registered with AUSTRAC and have compliance documents in place

Why choose GBG?

Why choose GBG?

An out-of-box solution option with no IT set-up required.
Build trust faster with seamless onboarding and less friction.
Be audit-ready at any time, with reporting tools built for regulators.
Avoid penalties and reputational damage with proactive compliance.
Feel confident you’re on the right side of evolving legislation.

Sectors

Legal & Conveyancing

Learn more

Tax and Accounting

Learn more

Partner with GBG to prepare for Tranche 2

Our automated identity verification and compliance solutions help firms easily meet AML/CTF obligations. Get in touch to find out how we can support your compliance journey.

The power of end-to-end identity verification solutions in the legal sector

Read now

Tranche 2 unlocked: the legal industry’s guide to compliance and KYC innovation

Read now

KYC in the legal sector: how to stay compliant without disrupting client service

Read now

Australia’s AML/CTF reforms: key updates for legal experts

Read now