Regulatory Alerts2026-03-31
Added · Updated
AUSTRAC opens enrolment for new professions in next step for AML reforms
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has opened online enrolment for previously unregulated professions, including lawyers, accountants, conveyancers, real estate professionals, and precious metals dealers. Starting 1 July 2026, these businesses must comply with anti-money laundering and counter-terrorism financing obligations, such as implementing compliance programs, conducting customer due diligence, and reporting suspicious activities, while existing reporting entities face updated data collection requirements including beneficial ownership details. This expansion increases the regulated sector from approximately 19,000 to nearly 100,000 entities nationwide, closing longstanding regulatory gaps and aligning Australia’s financial oversight with international standards.