Tranche 2 AML/CTF Reforms: Don’t Act Out of Fear
With the second round of AUSTRAC consultation on Tranche 2 reforms now closed, the next phase of Australia’s updated AML/CTF framework is officially in motion. But if you’ve been feeling overwhelmed or pressured by noise in the industry, you’re not alone (and don’t for a minute think that you’re behind).
We’ve seen an influx of scaremongering, with some providers encouraging early sign-up or suggesting you’ll face penalties if you don’t act right now. But the truth is that the rules are still being finalised and nothing is enforceable yet. The most important thing you can do is stay calm, stay informed, and prepare smart.
AUSTRAC CEO Brendan Thomas said it best:
“The rules aren’t finalised yet and the guidance isn’t out, so it’s impossible to design a solution that fully meets Tranche 2 obligations at this stage.”
Here is what we know right now…
- Tranche 2 will extend AML/CTF obligations to professionals, including lawyers, conveyancers, accountants, and real estate agents.
- The legislation is expected to take effect from 1 July 2026.
- AUSTRAC has confirmed that enrolments, risk assessments and AML/CTF programs will not begin until 2026.
- AUSTRAC is planning to release starter packs and formal guidance from December 2025 to help affected businesses prepare.
So for now, that means…
- You can’t register yet.
- You don’t need to buy a program yet.
- You definitely shouldn’t act out of fear.
Instead, now is the time to get educated. Understand what’s coming.
Start exploring what kind of support or solution might be right for your business, and make decisions based on clarity, not urgency.
We know that AML/CTF compliance isn’t going to be a ‘one-and-done’ box-ticking exercise. It will require ongoing review. And there’s no question that there will be an impact on small businesses both in terms of time & money.
easyAML has been built to guide Australian real estate agents, conveyancers, lawyers, accountants and other impacted professionals through the full Tranche 2 compliance journey. easyAML provides practical tools, step-by-step guidance, and automated checks and reminders to ensure your business remains compliant. While the nitty-gritty details are still being released by AUSTRAC over the coming months, we’re committed to keeping you informed every step of the way, so when the time comes to act, you’re ready.
If you want to be the first to know when it’s time to move, join the easyAML readiness list today.