Your AML Compliance Timeline - What's Coming and Some Steps You Can Take Now

myAML
Mar 13
2 min read

Updated: May 20

The AML/CTF laws are changing, but you still have time to prepare. With the compliance deadline for Tranche 2 businesses set for 1 July 2026, now is the perfect opportunity to get ahead, understand your obligations, and take simple steps to prepare stress-free and without the hefty price tag.

Now – 2025 → Preparation Phase

We’re currently in the preparation phase—a window of time where Tranche 2 businesses can start learning about AML compliance before the final rules are locked in.

If you are looking to prepare to affordably self-manage your AML compliance, you can start learning the basics now to make things easier later.

myAML is dedicated to helping small independent Tranche 2 businesses stay informed over the coming month with clear, bite-sized updates and free AML training and resources.

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Later in 2025 → Final Rules to Be Confirmed

Right now, we know that AML laws will apply to Tranche 2 businesses from 1 July 2026, but the government is still finalising the detailed requirements—the exact processes and obligations that businesses will need to follow.

The government and AUSTRAC expect to finalise the AML/CTF Rules for Tranche 2 businesses later this year and these will clarify:

What your obligations are.
What specific compliance steps you’ll need to take.
What policies and procedures your business will require.
How regulators will assess compliance.

Until then, there is ample information available for Tranche 2 businesses to start thinking about how AML compliance will fit into their business operations.

Around March 2026 → AUSTRAC Enrolment Opens

Tranche 2 businesses covered under the new AML/CTF laws will be required to register with AUSTRAC. This enrolment process confirms your business is part of the regulated sector and ensures you receive ongoing regulatory guidance.

For now, you can mark this date in your calendar and have peace of mind that myAML will cover this topic for you in more detail in our upcoming free updates and AML training and resources.

1 July 2026 → Compliance Deadline

By this date, Tranche 2 businesses must be fully compliant, and will need to have the required policies and processes in place, for example:

Having a compliant, written AML/CTF Program in place.
Completing a Risk Assessment to identify money laundering risks in your business.
Implementing processes to identify and verify customers.
Knowing how to identify and report suspicious transactions.

It sounds like a lot—but with the right simple, low-cost, self-managed solution – you can reduce the disruption of implementing AML compliance in your business.

Stay Informed & Take Action Now

When AML is broken down, it’s much more manageable than you might think.

The key to stress-free, low-cost compliance is understanding your obligations early and choosing the right solution—one that simplifies complex legislative requirements.

Subscribe to myAML for free AML training & updates.
Learn at your own pace with practical, easy-to-follow resources.
Once the rules are finalised, be the first access myAML’s customisable compliance framework which includes templates and tools to help you get compliant and stay compliant.