If your business provides what the anti money laundering rules call designated services, the single most important date left in July is Tuesday the 29th. That is the deadline to enrol with AUSTRAC, and it is four days away.
Who this catches
The tranche 2 reforms extended Australia's anti money laundering and counter terrorism financing regime to accountants, bookkeepers, lawyers, conveyancers, real estate professionals and dealers in precious metals and stones. The legal obligations commenced on 1 July 2026, and enrolment, which opened on 31 March, closes on 29 July.
What enrolment actually is
Enrolment is the entry ticket, not the whole exam. It is done through AUSTRAC Online and involves completing a business profile with your legal entity details and nominating an AML/CTF compliance officer. Beyond enrolment, captured firms need an AML/CTF program: a money laundering risk assessment of the practice, customer due diligence procedures, and arrangements for reporting suspicious matters.
Why the date matters
Missing the 29 July deadline is a contravention of the AML/CTF Act in its own right and can attract civil penalties. This is not a soft launch, and waiting to see whether the regulator blinks is not a strategy we would put our name to.
If you are a client wondering why your accountant is asking for ID
This is why. Expect professional firms to ask more identity questions than they used to, sometimes for engagements that never triggered them before. It is not nosiness, it is the law, and firms that skip it are the ones to worry about.
Super Nice enrolled well before the deadline and our AML/CTF program is in place. If you run a firm that has not started, four days is still enough to enrol. Start today.