About Tranche 2
Helping you understand your AML/CTF Obligations
Australia’s anti-money laundering laws are expanding. If you work in real estate, conveyancing, accounting, legal services or virtual asset services, Tranche 2 AML/CTF reforms could significantly impact your business.
easyAML is here to break it all down, helping you move forward with confidence.
Simply. Clearly. Without the noise.
More about Tranche 2
What does Tranche 2 AML/CTF mean for Australian businesses?
Tranche 2 refers to the expansion of Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime to include additional professions and industries. It brings more professions under AUSTRAC regulation to detect and prevent financial crime.
The AUSTRAC AML/CTF regime is designed to detect and prevent money laundering, terrorism financing and other financial crimes. It requires certain businesses to verify customer identities, monitor transactions and report suspicious activity to AUSTRAC.
If you handle client funds, large transactions or high-risk financial activity, these rules will likely apply to you.
AUSTRAC Tranche 2 reforms are coming into effect for businesses that:
- Handle property transactions
- Provide trust or company services
- Facilitate large transactions or manage client funds
Who needs to comply with Tranche 2?
Previously, only certain large businesses, such as banks and gambling organisations (known as Tranche 1 entities), were covered under AML/CTF obligations. AML Tranche 2 extends this to Designated Non-Financial Businesses and Professions (DNFBPs), including:
- Real estate agents (including buyer’s agents and property developers)
- Conveyancers
- Accountants and tax agents
- Lawyers
- Virtual asset-related services
- Other service providers offering designated services
Use AUSTRAC’s online check to confirm your status and find out if your business falls under Tranche 2.
If your business falls under Tranche 2, you’ll be expected to:
- Enroll with AUSTRAC
- Verify your clients' identities
- Create and maintain an AML/CTF compliance program
- Report suspicious activity
- Train your team & maintain accurate records
When does Tranche 2 come into effect?
The legislation has passed, and the rules around Tranche 2 AML compliance are being finalised.
Implementation is set for 2026.
| Date | Who It Affects |
| 31 March 2026 | Current AUSTRAC entities and virtual asset service providers (VASPs) |
| 1 July 2026 | New Tranche 2 professions (legal, accounting, real estate, conveyancing, etc.) |
You don’t need to comply just yet, but now is the time to prepare. Setting up your systems early will make the transition smoother and reduce stress when these new rules hit.
View Tranche 2 Key Dates
Why are Tranche 2 reforms happening?
Australia has committed to updating its AML/CTF laws with global standards set by the Financial Action Task Force (FATF). We’re one of the last countries in the developed world that hasn’t yet extended AML/CTF to DNFBPs.
These reforms will:
- Closes known loopholes in property and professional services
- Strengthens our defences against criminal activity
- Improve international reputation and trade relationships
What will Tranche 2 AML compliance require?
The rules are still being finalised, but at a high level, this is what we expect AML/CTF Tranche 2 compliance to involve:
| Your obligation | What it means |
| Enrol with AUSTRAC | Sharing some essential details about your business and ensuring these remain current. |
| Have an AML/CTF Program | Have a written plan for how your business meets AML/CTF obligations. |
| Conduct Customer Due Diligence (CDD) | Verify your clients’ identity before providing services. |
| Ongoing Monitoring | Watch for suspicious transactions or unusual behaviour. |
| Suspicious Matter Reporting | Report activities that look suspicious to AUSTRAC. |
| Record Keeping | Store identity and transaction data securely and for a set period of time |
How can I get ready for Tranche 2?
You have until mid-2026 (earlier for impacted virtual asset service businesses). Smart business owners are taking steps early to reduce the impact of these changes on their customers and staff.
Use our AML Tranche 2 checklist to start preparing:
- Understand your obligations. Start reading up on what Tranche 2 will likely involve.
- Map your processes. Identify where client onboarding, payments or legal services may trigger AML obligations.
- Choose the right tools. Look for secure, compliant software that does the heavy lifting (like easyAML).
- Train your team. Make sure your staff know what’s coming and what their role will be under these new rules.
- Stay informed. Subscribe to updates from AUSTRAC and follow industry news.
Meet the all-in-one AML/CTF platform for Australian businesses
Are there businesses that can help me with my AML compliance?
easyAML is an all-in-one AML/CTF platform (and support team) and your dedicated Australian compliance team. Built specifically for small to medium businesses facing Tranche 2, we support you through every step of compliance. As a local Australian team, we don’t just understand AML — we understand how it impacts real estate agents, accountants and legal teams right here at home.
What makes us different:
- Local expertise: Experts who understand your industry and obligations
- Complete solution: End-to-end compliance, not just part of the puzzle
- SMB-focused: Built for businesses with 2-50 employees, not corporate giants
- Ongoing support: From initial set-up to monitoring, training and regulatory updates we’ll help you stay informed and meet obligations with confidence.
More about Tranche 2
When does Tranche 2 come into effect?
What will Tranche 2 AML compliance require?
Frequently asked questions about Tranche 2