Is Your Business Impacted by Australia’s Expanded AML Laws?

 

From 1 July 2026, Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws will expand to cover additional businesses and professions. This means certain service providers will now have legal AML/CTF compliance obligations to help prevent financial crime.

​

​​

Check If You’ll Be Regulated

 

AUSTRAC will provide further guidance in 2025. In the meantime,

you can check if your business will be regulated under the new

AML/CTF laws by answering a few questions about your services on

the AUSTRAC website.

​

 

​Who Will Be Affected?

​

The AML/CTF Amendment Act 2024 extends compliance requirements to businesses providing:

✔ Real estate services (real estate agents and property developers)
✔ Precious metals and stones dealing (gold, silver, diamonds, and similar products)
✔ Legal services (lawyers and conveyancers)
✔ Accounting and financial services (accountants, trust, and company service providers)
✔ Virtual asset services (from 31 March 2026)

 

If your business operates in any of these sectors and has a geographical link to Australia, you may soon have AML/CTF obligations.

​

​

What Does This Mean for Your Business?

​

• Know Your Customer (KYC) Requirements – Verifying customer identities and conducting due diligence.

• Ongoing Monitoring & Reporting – Identifying and reporting suspicious transactions.

• AML/CTF Risk Assessments – Implementing policies and procedures to detect financial crime.

• Regulatory Compliance – Ensuring your business meets AUSTRAC’s guidelines.