AUSTRAC's at-a-glance checklist for tranche-2 readiness ahead of 1 July 2026.

Foundations

• Confirm whether you provide a designated service.
• Identify your AML/CTF compliance officer (AMLCO).
• Enrol with AUSTRAC.
• Document senior-management oversight responsibilities.

ML/TF risk assessment

• Identify inherent risks across services, customers, channels and countries.
• Assess and prioritise the risks.
• Document the risk assessment and have it approved by senior management.
• Plan to review your risk assessment at regular intervals.

AML/CTF policies

• Tailor policies to your business — not off-the-shelf.
• Cover CDD, ongoing monitoring, sanctions, training and reporting.
• Get policies approved by senior management.
• Roll out staff training before 1 July 2026.

CDD & reporting

• Establish initial, ongoing and enhanced CDD procedures.
• Implement transaction monitoring and screening.
• Set up SMR, TTR and IFTI reporting workflows.
• Maintain records for at least 7 years.