AUSTRAC
Australia's financial intelligence unit and AML/CTF regulator. It receives suspicious matter reports and supervises reporting entities for compliance.
Oceania · Country coverage
AML/CTF Compliance in Australia
Australia regulates AML/CTF through AUSTRAC under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. See the obligations and how MemberCheck supports them.
Last updated
Screening coverage for Australia
- Sanctions & PEP screening
- Adverse media checks
- Customer identity verification
- Jurisdiction risk checks
- Ongoing monitoring
Key facts
AML supervisor / FIUAustralian Transaction Reports and Analysis Centre (AUSTRAC)
FATF statusFATF member
Primary legislationAnti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act)
Overview
AML/CTF compliance in Australia.
Australia regulates money laundering and terrorist financing through the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, supported by AUSTRAC, which receives suspicious matter reports and supervises reporting entities for compliance.
Reporting entities must enrol with AUSTRAC, apply customer due diligence, identify beneficial owners, monitor transactions, and submit suspicious matter reports. Tranche 2 reforms are extending these obligations to lawyers, accountants, real estate agents, and other professions.
MemberCheck helps teams meet these obligations by screening customers and entities against global sanctions, PEP, and adverse-media data, verifying identities, and monitoring risk continuously, with a clear audit trail behind every decision.
Regulation
All solutions →Key laws and regulators.
AML/CTF Act 2006
Australia's principal AML statute, setting customer due diligence, recordkeeping, and reporting obligations for reporting entities across banking, gaming, and other regulated sectors.
Tranche 2 reforms
Reforms extending AML/CTF obligations to lawyers, accountants, real estate agents, and other "tranche 2" professions are being phased in, widening the scope of regulated entities.
FATF 40 Recommendations
As a FATF member, Australia aligns its regime with the international standards that shape expectations for reporting entities.
Obligations
What regulated businesses must do.
- Enrol and register with AUSTRAC where required
- Apply customer due diligence and identity verification
- Identify beneficial owners of corporate customers
- Submit suspicious matter reports (SMRs) to AUSTRAC
- Conduct ongoing monitoring of customer transactions
- Maintain an AML/CTF programme, records, and staff training
1,000+
Global watchlists screened
<1s
Average screening response
24h
Watchlist refresh cycle
195
Countries covered
FAQ
Common questions.
Who supervises AML/CTF in Australia?
AUSTRAC is Australia's financial intelligence unit and AML/CTF regulator. It receives suspicious matter reports and supervises reporting entities for compliance with the AML/CTF Act.
What is the main AML law in Australia?
The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 sets the customer due diligence, recordkeeping, and reporting obligations for reporting entities, with tranche 2 reforms extending coverage to more professions.
Is Australia a member of FATF?
Yes. Australia is a member of the Financial Action Task Force and aligns its AML/CTF regime with the FATF 40 Recommendations.
How does MemberCheck support AML compliance in Australia?
MemberCheck screens customers and entities against global sanctions, PEP, and adverse-media data, verifies identities, and monitors risk continuously, with an audit trail behind every decision.
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