Enrolling with AUSTRAC: What You Need to Know
- myAML
- Mar 11
- 2 min read
Updated: May 20
If your business is part of Tranche 2, you will be required to enrol with AUSTRAC. While enrolment is not yet open, learning more now will ensure a smooth process when the time comes next year. There is already a lot you can do to get familiar with AUSTRAC and AML compliance so that your business is ready to act when required.
What is AUSTRAC?
AUSTRAC is Australia’s financial intelligence agency and AML/CTF regulator. Their role is to help businesses like yours understand and meet their AML compliance obligations while detecting and preventing financial crime.
What is AUSTRAC Enrolment?
Enrolment is the formal registration of your business as a reporting entity under AML/CTF laws. This process confirms your business is covered by the new regulations and ensures you can access AUSTRAC’s compliance and reporting systems.
Key Dates for Tranche 2 Businesses
📆 Later in 2025 → The final AML/CTF rules are expected to be confirmed
📆 Around March 2026 → AUSTRAC enrolment officially opens
📆 1 July 2026 → All Tranche 2 businesses must be fully compliant with AML laws
Why Enrolment Matters
Enrolment is an essential step in meeting your AML compliance obligations. It allows businesses to:
Meet their obligations—avoiding serious penalties for non-compliance
Be formally recognised as a reporting entity under AML/CTF laws
Gain access to AUSTRAC’s online portal to submit reports
Receive important regulatory updates and guidance to help navigate initial and ongoing AML obligations
What Can You Do Now?
Although you can’t enrol just yet, there are steps you can take today to reduce stress and prepare early:
Understand your obligations – Get familiar with AML requirements now to make compliance easier later.
Explore AUSTRAC’s free resources – Use their guidance and tools to stay informed.
Subscribe to myAML – We’ll provide clear, bite-sized updates and practical insights to help you stay ahead.
AUSTRAC’s Free Resources
AUSTRAC provides excellent resources that can help small businesses who are preparing to self-manage their AML compliance:
AUSTRAC Website - Official step-by-step compliance guides, case studies and learning materials.
AUSTRAC In-Brief – Online newsletter with regular industry updates and compliance insights.
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