AML Compliance Software for Australia

Tranche 2 is the second phase of Australia's anti-money laundering and counter-terrorism financing (AML/CTF) reforms. Under the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024, AML/CTF obligations extend to new "designated services" provided by lawyers, accountants, conveyancers, real estate agents, trust and company service providers, and dealers in precious metals and stones. The reforms close a gap that left these "gatekeeper" professions unregulated for two decades and align Australia with the Financial Action Task Force (FATF) standards. Obligations commence on 1 July 2026.

Any business that provides a designated service with a geographical link to Australia becomes an AUSTRAC reporting entity. The Tranche 2 reforms are expected to bring roughly 80,000–100,000 new businesses into the regime — primarily lawyers, accountants, conveyancers, real estate agents and property developers, trust and company service providers, and dealers in precious stones and metals. Importantly, it's the activity, not the profession, that decides who is in scope: you're captured when you provide a designated service in the course of carrying on a business.

Enrolment for newly regulated (Tranche 2) entities opened on 31 March 2026. If you provide a designated service, you must enrol with AUSTRAC via the Business Portal within 28 days of starting to provide that service — and by 29 July 2026 at the latest. You'll also need to appoint an AML/CTF compliance officer at management level and have a written AML/CTF program in place.

Every reporting entity must maintain a written, risk-based AML/CTF program with two parts. Part A is your ML/TF risk assessment plus the policies, procedures and controls that identify, mitigate and manage money-laundering and terrorism-financing risk. Part B covers customer due diligence — identifying and verifying customers and beneficial owners, including politically exposed persons (PEPs). AMLyticsAI gives you the screening evidence, dashboards and audit logs that sit behind both parts.

A Suspicious Matter Report (SMR) is filed when you form a reasonable suspicion that a customer or transaction is linked to money laundering, terrorism financing or another offence. A Threshold Transaction Report (TTR) is filed for cash transactions at or above the reporting threshold (A$10,000 or more, or the foreign-currency equivalent). AMLyticsAI helps you identify both, walks an analyst from KYC to a filed report through a decision tree, and produces the export AUSTRAC expects — while keeping "tipping off" controls in mind.

AUSTRAC can seek civil penalty orders in the Federal Court of up to A$31.3 million per contravention for a corporation. Penalties can also apply to individuals, including directors and officers. Failing to enrol, failing to file a suspicious matter report, or "tipping off" a customer that a report has been made can each attract serious enforcement. The practical takeaway: build your AML/CTF controls before the deadline rather than after a breach.

AUSTRAC requires AML/CTF records — customer identification, transaction records, screening results and reports — to be retained for seven years and produced to the regulator on request. AMLyticsAI logs every verification, screening result and case decision, and its default retention aligns with the seven-year requirement so your records are always audit-ready.

AMLyticsAI is built around AUSTRAC's requirements, including the Tranche 2 reforms. It automates KYC and customer due diligence, sanctions and PEP screening, and transaction monitoring, then generates the Suspicious Matter Reports (SMRs) and Threshold Transaction Reports (TTRs) AUSTRAC expects — all with seven-year record-keeping and a full audit trail, so your reporting entity stays compliant without bending a generic global tool to fit Australian rules.

Yes. Many newly regulated businesses are small or low-complexity practices meeting AML/CTF obligations for the first time. AMLyticsAI offers pay-as-you-go and low monthly plans so a sole practitioner or small firm gets the same KYC, screening and reporting tools as a large reporting entity — and you can start with a free 2-week trial, no payment details required.

AML data is some of the most sensitive data you hold. AMLyticsAI keeps each account's data fully isolated, encrypted in transit (TLS) and at rest (AES-256), and hosted on AWS with role-based access and a complete audit trail. Data is never pooled or shared across accounts, and enterprise or government deployments can specify a hosting region to meet local data-residency requirements.

No — your agency has to be registered and activated on this site first. The app only accepts credentials issued during registration; there's no separate sign-up flow inside the app itself. Once you register, your account is activated within minutes and credentials are emailed to your admin.