Banks, casinos, remittance providers, superannuation funds, and others have been regulated under Australia's AML/CTF Act since 2006. The 2024 amendments updated the framework — here's what changed for Tranche 1.
Tranche 2 industries (new obligations)2024 amendments
The Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 updated the framework for all reporting entities — including those already regulated under Tranche 1.
Tranche 1 businesses are already enrolled with AUSTRAC. The 29 July 2026 enrolment deadline applies only to newly regulated Tranche 2 businesses.
The 2024 amendments update the AML/CTF program framework. Existing programs must be revised to meet the new Part A / Part B structure by 31 March 2026.
The new Act introduces a risk-based CDD framework that replaces the previous prescriptive regime. Existing customer onboarding procedures should be reviewed for alignment.
The new legislation clarifies and expands the tipping-off prohibition. Policies and training materials should be updated to reflect the revised rules.
By industry
These industries have had AML/CTF obligations since the original Act commenced in 2006. Select your industry for tailored guidance.
Banks, credit unions, and other authorised deposit-taking institutions.
View guidesBookmakers, TABs, and wagering operators accepting bets on sporting and other events.
View guidesWholesale dealers buying or selling gold, silver, and other precious metals in bullion form.
View guidesCasino operators and gaming venues providing gambling services.
View guidesFinancial planners and advisers already regulated under an Australian financial services licence.
View guidesHotels, registered clubs, and licensed venues offering gaming machines or wagering.
View guidesMoney transfer operators and foreign currency exchange businesses.
View guidesSuperannuation fund trustees, administrators, and related service providers.
View guidesAUSTRAC-GPT is trained on official AUSTRAC guidance documents and can answer questions about both Tranche 1 and Tranche 2 obligations.
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