Big changes are coming to Australia’s anti-money laundering laws, and if you’re in law, real estate, accounting, or other professional services, this affects you. The new AML/CTF Rules 2025 are part of AUSTRAC’s reform rollout, and they’re designed to tighten up how businesses handle financial crime risk.
Here’s the short version.
From 1 July 2026, a new group of businesses (called Tranche 2 entities) will be required to follow AUSTRAC’s rules. This includes:
These businesses will now be considered reporting entities, meaning they’ll need to register with AUSTRAC and follow a set of compliance obligations.
Once the rules kick in, Tranche 2 entities will need to:
There are also options for businesses to form reporting groups, which lets multiple firms share one AML program under a lead entity. This can reduce duplication and make compliance more manageable.
If you’re running a business that deals with property, trust accounts, or financial transactions, these rules are not optional. Non-compliance can lead to serious penalties, reputational damage, and operational disruption.
But here’s the good news: you don’t have to build your compliance framework from scratch.
APLYiD’s software is built to take the stress out of AML obligations. It automates ID verification, streamlines customer due diligence (CDD), and keeps your records audit-ready. Instead of juggling spreadsheets and chasing documents, you get a clean, secure system that does the heavy lifting.
With the 2026 deadline approaching, now’s the time to get ahead. APLYiD helps you stay compliant without drowning your team in admin. It’s a no brainer.
The rules won’t take effect until July 2026, so there’s still time to make sure you’re prepared. We’ve outlined some of the key upcoming dates for you below:
Customer Due Diligence (CDD) is split into two parts:
Depending on the risk level, businesses must apply either:
Yes, but only in limited circumstances. Delayed CDD is allowed if:
If a customer was onboarded before the new rules, they’re considered a pre-commencement customer. You’ll need to monitor them for any changes that increase their risk level. If that happens, you must complete both the initial and ongoing CDD.
Reporting Entities must keep records for 7 years after a relationship ends or a transaction is completed. This includes:
You don’t need to keep copies of ID documents - just a record of what was used (e.g. passport details). The great news is that APLYiD will securely store this information for you for the required timeframe.
You must verify both individuals and legal entities (like companies or trusts). This can be done using:
And, you need to be confident that:
This is where APLYiD comes in. Our software automates this process and cuts out the admin. Keeping your business efficiently compliant and audit ready.
AUSTRAC defines three types of PEPs:
Foreign PEPs are automatically high-risk. Domestic and international PEPs must be assessed individually. For high-risk PEPs, you’ll need to:
All Reporting Entities must run AML/CTF training programs, which should be tailored and delivered regularly. Staff should understand:
Using APLYiD reduces human error. Plus, it can also flag potential fraud risks.
Working with external providers to support CDD can help manage risk and cut down admin for your team. However, you’re still accountable. Before you get started with outsourcing it’s important to check:
You can rest assured that we’re keeping ahead of Tranche 2 reforms to give you total compliance peace of mind with APLYiD.
Keen to try it out? Get started in minutes today.
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