If your business provides a regulated designated service with a geographical link to Australia, you must enrol with AUSTRAC.

For newly regulated Tranche 2 businesses, AUSTRAC says you must be enrolled with AUSTRAC by 29 July 2026 if you provide designated services covered by the new AML/CTF laws from 1 July 2026.

Quick answer: If your business provides a regulated designated service with a geographical link to Australia, you must enrol with AUSTRAC. For newly regulated Tranche 2 businesses, AUSTRAC says you must be enrolled with AUSTRAC by 29 July 2026 if you provide designated services covered by the new AML/CTF laws from 1 July 2026.

This may affect businesses such as lawyers, accountants, real estate agents, conveyancers, buyer’s agents, jewellers, precious metals dealers and trust and company service providers. However, you are not automatically caught just because you work in one of those industries. The key question is whether your business provides a regulated designated service with a geographical link to Australia.

This guide explains the position in plain English.

What changed on 1 July 2026?

From 1 July 2026, Australia’s anti-money laundering and counter-terrorism financing laws expanded to cover many businesses that were not previously regulated.

AUSTRAC identifies newly regulated sectors as including real estate professionals, dealers in precious stones, metals and products, lawyers, conveyancers, accountants, trust and company service providers, and businesses providing certain virtual asset services.

These businesses are often referred to as Tranche 2 businesses.

The reforms are designed to reduce the risk that criminals use property transactions, companies, trusts, professional services and high-value goods to move or hide illicit money.

Do I need to enrol with AUSTRAC?

You must enrol with AUSTRAC if your business provides a regulated designated service with a geographical link to Australia.

A designated service is a business activity listed in the AML/CTF Act. In practical terms, you should check whether your business provides services in one of the newly regulated areas, including:

The important point is this: your actual services matter more than your industry label. For example, not every accountant, lawyer, real estate professional or jeweller will necessarily provide the same regulated services. You need to assess what your business actually does.

What is the enrolment deadline?

The key date is 29 July 2026.

AUSTRAC says newly regulated businesses must be enrolled with AUSTRAC by 29 July 2026 if they provide designated services covered by the new AML/CTF laws from 1 July 2026.

This means you should not wait until later in the year to check your position. If your business is caught by the reforms, enrolment is one of the first steps you need to take. For practical guidance on completing enrolment, see How to Enrol with AUSTRAC for Tranche 2.

Enrolment is not the same as registration

This is one of the most common areas of confusion. For most Tranche 2 businesses, the relevant requirement is likely to be enrolment with AUSTRAC.

AUSTRAC states that if you provide a designated service with a geographical link to Australia, you must enrol.

However, businesses providing remittance services or certain virtual asset services may also need to apply for registration. AUSTRAC guidance states that newly regulated virtual asset service providers must apply to enrol and register by 29 July 2026.

For example, many real estate agents, conveyancers, accountants, lawyers and jewellers will be focused on enrolment. By contrast, businesses providing remittance or certain virtual asset services need to consider whether registration obligations also apply. If you are unsure, you should check your specific services carefully.

Enrolment is only the first step

Enrolling with AUSTRAC does not mean your business has completed all of its AML/CTF obligations.

If your business provides a designated service with a geographical link to Australia, it will need to comply with the AML/CTF obligations that apply to that service. These obligations may include preparing an AML/CTF program, completing a ML/TF risk assessment, conducting KYC under Australia’s AML/CTF laws, identifying beneficial ownership, screening for politically exposed persons and sanctions risks, training staff, keeping records and reporting suspicious matters where required.

So, enrolment matters. But it is not the whole compliance process. For a broader readiness checklist, see Are You Ready for Australia’s New AML/CTF Laws?

What should I do now?

If you think your business may be caught by Tranche 2, you should take the following steps.

  1. Check whether your business provides a designated service.
  2. Confirm whether that service has a geographical link to Australia.
  3. Confirm whether you need to enrol with AUSTRAC by 29 July 2026.
  4. Identify who in your business will be responsible for AML/CTF compliance.
  5. Prepare a practical AML/CTF program that matches your business size, services and risks.
  6. Put in place a customer onboarding process so you can conduct customer due diligence before providing designated services.
  7. Keep clear records of your checks, risk assessments, decisions and ongoing monitoring.

For small businesses, the aim should not be to create unnecessary paperwork. The aim should be to have a clear, workable process that helps you comply and protects your business.

Why small businesses should act early

Many small businesses are only now realising that the new AML/CTF laws may apply to them. This is understandable. The reforms are technical, and the language can be confusing.

However, the practical risk is that a business either fails to enrol, enrols late, or enrols but does not put the required compliance steps in place.

AUSTRAC has stated that, after 1 July 2026, its enforcement focus will include entities that wilfully ignore the obligation to enrol or are complicit with, or wilfully blind to, money laundering and terrorism financing in their business.

Acting early gives you time to understand whether your business is caught, enrol with AUSTRAC if required, prepare your AML/CTF program, train your staff and start using a consistent customer due diligence process.

How Flagship AML can help

Flagship AML is designed to help small Tranche 2 businesses manage their AML/CTF compliance in a practical and structured way.

The platform helps businesses with customer onboarding, KYC workflows, beneficial ownership checks, customer risk ratings, PEP and sanctions screening, enhanced due diligence, audit-ready reports and record keeping. For businesses comparing options, see our guide on how to choose AML software for Tranche 2.

It is built for small businesses that need a clear AML/CTF workflow without trying to turn themselves into a bank. If you are a real estate agent, conveyancer, accountant, lawyer, buyer’s agent, jeweller or other newly regulated business, Flagship AML can help you move from confusion to action.

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To start your free trial, please contact Flagship AML to request a trial code. No credit card is required, and there is no obligation to continue.

Visit the Flagship AML pricing page to get started.

Frequently asked questions

Do all Tranche 2 businesses need to enrol with AUSTRAC?

No. You are not automatically required to enrol just because you work in a Tranche 2 sector. The key question is whether your business provides a regulated designated service with a geographical link to Australia.

What is the AUSTRAC enrolment deadline?

For newly regulated businesses providing designated services covered by the new AML/CTF laws from 1 July 2026, AUSTRAC says the enrolment deadline is 29 July 2026.

Is enrolment the same as registration?

No. Enrolment and registration are different concepts. Most newly regulated businesses will focus on enrolment. However, businesses providing remittance services or certain virtual asset services may also need to apply for registration.

Is enrolment enough to comply with AML/CTF laws?

No. Enrolment is only one step. If your business provides a designated service with a geographical link to Australia, you will also need to comply with the AML/CTF obligations that apply to that service. These may include an AML/CTF program, customer due diligence, risk assessment, screening, record keeping and suspicious matter reporting.

Do real estate agents need to enrol with AUSTRAC?

Real estate agents need to consider whether they provide regulated real estate designated services with a geographical link to Australia. If they do, they must enrol with AUSTRAC and comply with the relevant AML/CTF obligations.

Do accountants and lawyers need to enrol with AUSTRAC?

Accountants and lawyers need to consider whether they provide regulated professional designated services with a geographical link to Australia. The obligation depends on the services provided, not merely the professional title of the business.

By Dan Ward and Amira Ward, Co-founders of Flagship AML.

3 July 2026

This article is commentary only and is provided for general information. It is not intended to be, and should not be relied on as, legal advice. AML/CTF obligations depend on the specific services, structure and circumstances of each business. You should obtain legal or professional advice before acting or relying on this information.

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