Big changes ahead: New-Money Laundering and Counter Terrorism Financing laws for small business
17 April, 2026
Thousands of small businesses across New South Wales will soon be subject to new Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) laws.
From 1 July 2026, a range of professions previously not regulated by Australian Transaction Reports and Analysis Centre (AUSTRAC) will be brought into the ASML/CTF framework for the first time. These reforms are designed to strengthen Australia’s response to financial crime while providing clearer, more practical guidance for business to meet their obligations.
Who will be affected?
From 1 July 2026, AML/CTF obligations will apply to several professions traditionally outside the regime, including:
- Real estate agents and property developers
- Lawyers
- Accountants
- Conveyancers
- Trust and company service providers
- Dealers in precious metals and stones
These sectors make up what AUSTRAC calls ‘tranche 2’ entities.
If your business offers any of these services, you may be regulated. AUSTRAC provides an online checker tool to help you better understand your obligations,
https://www.austrac.gov.au/new-austrac/check-if-youre-regulated-and-need-enrol
What will small businesses need to do?
If your business is covered by the new laws, you will need to:
- Enrol with AUSTRAC (from 31 March 2026).
- Develop an AML/CTF program that matches the size and risk level of your business.
- Train staff on identifying suspicious behaviour.
- Verify customers through customer due diligence.
- Report suspicious activity or certain transactions when required.
- Keep accurate records of transactions and customer checks.
More information is available here:
Key Dates
- 31 March 2026: Current reporting entities begin operating under new rules, and enrolment opens for the new tranche 2 businesses.
- 1 July 2026: AML/CTF obligations begin for tranche 2 entities.
- 29 July 2026: Deadline to enrol for AUSTRAC
Support for businesses
AUSTRAC has developed program starter kits and sector specific guidance to support small and low complexity business. You are encouraged to access these resources and begin preparing early. We recommended that you check AUSTRAC’s website for additional information.
Information and guidance is also available through professional associations such as the Law Society of NSW and the Real Estate Institute of Australia.
Understanding your obligations now may help you reduce compliance costs, avoid penalties, and help protect your business from misused for criminal activity.