A concise guide for the ~80,000 Australian businesses newly regulated for anti-money-laundering.
Australia's AML/CTF reforms took effect on 1 July 2026. About 80,000 businesses are regulated by AUSTRAC for the first time, lifting the regulated population from around 19,000 to close to 100,000. One obligation has a hard deadline this month.
Check your services: austrac.gov.au/about-us/amlctf-reform/check-if-youll-be-regulated
Failing to enrol is a civil penalty, not a crime, but it accrues daily: up to $21,840 a day for companies and $4,368 for individuals via infringement notices (AML/CTF Act s51B). Maximums, not automatic fines. AUSTRAC has said early enforcement will target businesses that fail to enrol. The fix is enrolment.
By 29 July 2026, do exactly two things, in this order:
It can be you. Their details go into the enrolment form, which is why this comes first.
Create an account, open the Business menu, choose "Enrol a new business", complete and submit. The receipt only confirms submission. You are enrolled when AUSTRAC emails your account number. Start here: online.austrac.gov.au
| Date | Action | Evidence |
|---|---|---|
| 11 Jul | Confirmed our services are captured | File note and checker result |
| 14 Jul | Appointed compliance officer | Enrolment form copy and minute |
| 14 Jul | Enrolled via AUSTRAC Online | Receipt number and confirmation email |
How polished your program is on day one matters less than being able to show what you did, and when. Records beat perfection.
Document the risks in your services, clients, channels and geographies. AUSTRAC publishes sector quick guides that turn this into a structured exercise rather than a blank page. Date the assessment, keep the working notes, and revisit it when your services change.
Write policies proportionate to your size and risk, then set up customer due diligence for new clients. Newly regulated firms start directly on the reformed due diligence rules, so build once, against the current requirements.
Your first independent evaluation is not due before 1 July 2029. Deadlines stagger by AUSTRAC account number. There is time to do this properly, just not time to skip enrolment.
If you provide designated services in law, conveyancing, accounting, real estate, trust and company services, or deal in precious metals and stones with cash or crypto transactions of $10,000 or more, you are likely regulated from 1 July 2026. Check your services against AUSTRAC's official checker tool.
Two things: appoint your AML/CTF compliance officer, then enrol via AUSTRAC Online. You are enrolled when AUSTRAC emails your account number, not when you submit the form.
Failing to enrol is a civil penalty, not a crime, and it accrues daily: up to $21,840 a day for companies and $4,368 for individuals via infringement notices under section 51B. These are maximums, not automatic fines. AUSTRAC has said early enforcement will target businesses that fail to enrol.
Two components: a risk assessment that identifies the money laundering, terrorism financing and proliferation financing risks in your services, customers, channels and countries, and AML/CTF policies that manage those risks. A senior manager approves both. In a small business, one person can hold every role.
No. Customers you already had on 1 July 2026 need no initial due diligence until a suspicious matter report is triggered or their risk rises to medium or high. You still monitor them and keep their information current.
Not before 1 July 2029. Deadlines stagger by AUSTRAC account number. There is time to build the program properly, just not time to skip enrolment.