New anti money laundering (AML) rules may affect your business from 1 July 2026

New anti money laundering (AML) rules may affect your business from 1 July 2026.

Australia’s anti money laundering and counter terrorism financing laws are expanding under the “Tranche 2” reforms, bringing many professional and transactional businesses under AUSTRAC regulation for the first time.

These changes won’t affect every business, but they do apply based on the services you provide, not just your industry name.

Businesses commonly affected include those involved in:
• Real estate transactions – including agents, buyer’s agents, developers and advisers assisting with property purchases or sales
• Business sales and acquisitions – assisting with buying, selling or restructuring businesses or entities
• Accounting and advisory services – where services go beyond compliance and involve transactions, structures or client funds
• Jewellery businesses – particularly high value sales
• Dealers in precious metals and stones – including gold, silver, diamonds and other precious products

If your business is caught by the reforms, you may be required to:
• Enrol with AUSTRAC
• Implement a basic AML/CTF compliance program
• Verify client identities
• Keep records and report suspicious activity where required
Key dates
• 31 March 2026 – AUSTRAC enrolment opens for newly regulated businesses
• 1 July 2026 – AML/CTF obligations commence

How Altitude Advisory can help

At Altitude Advisory Pty Ltd, we are already helping clients across real estate, business sales, jewellery and precious metals to:
• Determine whether the reforms apply to them
• Understand obligations in plain English
• Prepare practical, proportionate AML/CTF programs suited to small businesses
• Get ready for AUSTRAC enrolment and ongoing compliance

If you are unsure whether these changes affect your business, or would like help preparing early, we encourage you to contact us.

Get in touch with Altitude Advisory Pty Ltd to discuss your position and next steps.