AUSTRAC Tranche 2 reforms — 1 July 2026Aligned with 2026 AML/CTF Rules

AML/CTF Readiness Checker

From 1 July 2026, many Australian businesses — real estate agents, lawyers, accountants, conveyancers, trust and company service providers, and others — must comply with AUSTRAC's anti-money laundering rules. This 2-minute checker shows where your main risks lie and what to address first. No right or wrong answers — just honest ones.

What does “compliant” actually mean?

There are two types. Administrative compliance means your policies, processes, and training are documented and in place — this is AUSTRAC's baseline expectation, and the goal this checker measures. Operational compliance means your whole team follows those processes in every client interaction, every time — the ongoing standard. Most Tranche 2 businesses are building toward administrative compliance right now. That's the right starting point.

Data kept private • No account needed

What best describes your main business?

Optional — personalises your results

Question 1 of 7

Customer Identity (KYC)

When you first start working with a new customer or client, do you keep track of their basic details?

e.g. full name, address, date of birth, and some form of ID

We usually ask for some ID, but it's not consistent and nothing is really written down.

We just get on with the jobClear process documented and trained

Question 2 of 7

Beneficial Ownership

Do you check who actually owns or controls the customer or business?

e.g. the real people behind a company or trust

We try to understand who's behind a business, but don't always dig much deeper.

We don't track who's behind the businessProcess exists and is documented

Question 3 of 7

Source of Funds / Wealth

Do you pay attention to where the customer's money comes from or their background?

e.g. source of funds or wealth for higher-risk clients

We watch for obvious red flags, but there's no formal process behind it.

We don't ask about source of fundsDocumented criteria, applied to higher-risk clients

Question 4 of 7

Customer Screening

Do you screen customers for higher-risk situations?

e.g. people in politics, sanctions lists, or from certain high-risk countries

We run informal checks for clients who raise a concern — no formal method.

We don't have any screening in placeScreening process documented and staff-trained

Question 5 of 7

Ongoing Monitoring

Once work has started, do you keep an eye on what the customer is doing?

e.g. unusual transactions, changes in behaviour, updated circumstances

We informally keep an eye on client behaviour during an engagement.

We don't actively monitor clientsMonitoring obligations documented and allocated

Question 6 of 7

Suspicious Matter Reporting

If something feels off or suspicious, do you have a way to report it?

i.e. an internal process and knowledge of how to lodge a report with AUSTRAC

We've looked into the reporting process, but it's not clear to us yet.

We don't have a reporting processProcess documented, staff know their obligations

Question 7 of 7

Policies, Training & Records

Overall, do you have policies, staff training, and records in place for managing these risks?

i.e. a documented AML/CTF program, training for your team, and proper record-keeping

We have some documentation and staff are generally aware of what's expected.

Nothing formally documented yetProgram documented, training in place, records kept

No account needed to take this checker • Data kept private