Australia regulated banks and financial institutions under the AML/CTF Act for years. Those are sometimes called the "Tranche 1" entities. Tranche 2 closes a long-standing gap by bringing in the professions that provide the services criminals use to move and hide money, such as buying property, setting up companies, or trading high-value goods.
Key dates
Under the reforms, the timeline for the newly regulated sectors ran as follows. Confirm your own category and timing directly with AUSTRAC, as details can change.
| When | What happens |
|---|---|
| 31 Mar 2026 | Enrolment opens |
| 1 Jul 2026 | Obligations commence |
| 29 Jul 2026 | Enrolment deadline |
Tranche 2 timeline: enrolment with AUSTRAC opened on 31 March 2026, obligations commenced on 1 July 2026, and the enrolment deadline was 29 July 2026.
The Tranche 2 timeline for newly regulated sectors. The 1 July 2026 commencement is the point obligations began to apply.
What a Tranche 2 business must do
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Enrol with AUSTRAC as a reporting entity.
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Maintain an AML/CTF programme documenting your policies and controls.
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Carry out customer due diligence, including PEP and sanctions screening.
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Monitor customers on an ongoing basis, not just at onboarding.
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Report suspicious matters and threshold transactions to AUSTRAC.
Tranche 2 software guide Politically exposed person Full AML glossary
How MemberCheck handles this
MemberCheck is built around Australian obligations, with DFAT and global list coverage, batch screening to bring an existing client base into compliance, ongoing monitoring, and AML consulting for firms new to the regime.