Tranche 2 readiness hub

What newly regulated entities need to do before and after 1 July 2026.

Understand the obligations, the dates, and the practical steps required to move from uncertainty to readiness.

Plain-English readiness focus

Key dates

You must act now to meet these deadlines.

31 March 2026

Enrolment opened

Newly regulated entities can enrol with AUSTRAC from this date.

1 July 2026

Obligations start

Entities need their AML/CTF program, compliance officer, staff training, and reporting readiness in place.

29 July 2026

Enrolment due

Newly regulated entities must ensure enrolment is completed by this date and notify AUSTRAC of the compliance officer as required.

Core obligations

What AUSTRAC expects newly regulated entities to have in place

Governance

Identify the governing body, senior manager responsibilities, and AML/CTF compliance officer.

AML/CTF program

Create a risk assessment plus policies, procedures, systems, and controls to manage and mitigate risk.

Customer due diligence

Apply initial, ongoing, and enhanced CDD based on customer risk and the designated service you provide.

Personnel due diligence and training

Make sure relevant personnel are fit for their roles and understand what they must do.

Reporting

Be ready to identify and escalate suspicious matters, and handle threshold transaction obligations where relevant.

Record keeping

Create accurate records and retain required AML/CTF records, generally for seven years.

Action plan

A practical readiness sequence

1. Check whether you are regulated

Start with your actual services, not your sector label alone.

2. Map designated services

Work out which services are in scope and when the designated service starts in practice.

3. Build governance

Clarify who owns decisions, approvals, oversight, and day-to-day compliance activity.

4. Build the program

Use AUSTRAC starter kits where relevant, then tailor the program to your risks and business model.

5. Operationalise CDD, training, and reporting

Move from document creation to workable process design and staff execution.

6. Enrol and evidence readiness

Make sure your business can demonstrate that preparation is active, realistic, and defensible.