Accountants and tax agents
Covered accounting services, client due diligence and practice specific risk.
Read the guideAML/CTF guidance
AML/CTF guidance for Australian businesses
This guide covers the seven areas Australian practices need to manage: AUSTRAC enrolment, an AML/CTF program, customer due diligence, screening, reporting, staff training and ongoing review.
What your practice needs to put in place
Start with the setup work, then keep reporting, training and reviews moving. Select a topic for the reason it matters and the risk of missing it.
Set up your compliance work
The foundation to put in place before you provide designated services.
Enrol with AUSTRACEnrol through AUSTRAC Online. The 29 July 2026 deadline for businesses already providing designated services has passed, so enrol now if you have not. New providers must apply within 28 days of starting.
Why it matters: You must be enrolled to provide designated services lawfully under the regime.
If it is missed: You may be providing designated services while unenrolled. The gap only stops growing when you enrol.
Read the enrolment guideWrite your AML/CTF programCreate a written program tailored to your business, covering risk, controls, training and review.
Why it matters: It shows how you manage risk and keep your business compliant.
If it is missed: You may not be able to demonstrate compliance to AUSTRAC.
Identify and assess your customersVerify every client, identify beneficial owners and assess each client risk level.
Why it matters: Customer due diligence reduces the risk of dealing with criminals or high risk clients.
If it is missed: You may face penalties for inadequate customer due diligence.
Screen for PEPs and sanctionsCheck every client against sanctions and politically exposed person data at onboarding and periodically.
Why it matters: Screening helps you identify customers who need closer review or additional controls.
If it is missed: You may deal with sanctioned or politically exposed individuals without recognising the risk.
Keep your obligations current
The reporting, training and review work that continues after setup.
File reports with AUSTRACFile SMRs within 24 hours for terrorism financing suspicions, or 3 business days for other suspicions. File TTRs within 10 business days for physical cash transactions of $10,000 or more.
Why it matters: Mandatory reporting helps AUSTRAC protect the financial system.
If it is missed: Late or missed reports can lead to significant civil penalties.
See what to submit and howTrain your staffMake sure anyone handling designated services understands your controls and obligations.
Why it matters: Well trained staff reduce risk and support a strong compliance culture.
If it is missed: Human error and gaps in knowledge increase your compliance risk.
Report, review and keep recordsSubmit an annual compliance report, review your program independently and keep required records for 7 years.
Why it matters: Ongoing review keeps your program effective and up to date.
If it is missed: You may fail to identify gaps in your AML/CTF controls.
Follow the annual report tutorialOfficial AUSTRAC sources, checked 24 September 2026
Guidance for your industry
The core obligations are shared, but designated services, client relationships and risk indicators differ by industry.
Legal practices
Conveyancing, trust accounts, company work and client identification.
Read the guide
Real estate businesses
Property transactions, buyer and seller checks, and records to keep.
Read the guide
Jewellers and dealers
High value transactions, cash thresholds and customer risk indicators.
Read the guideAUSTRAC Online tutorials
Follow the task on screen
Six free tutorials show where to click using AUSTRAC screenshots that you can enlarge. No account is needed to read them.
Choose a screenshot tutorial for the portal steps, or read the matching guide to understand the requirements.
See what you submit to AUSTRACCreate your AUSTRAC Online account
View screenshot tutorial: Create your AUSTRAC Online accountEnrol your business
View screenshot tutorial: Enrol your businessLodge a suspicious matter report
View screenshot tutorial: Lodge a suspicious matter reportLodge a threshold transaction report
View screenshot tutorial: Lodge a threshold transaction reportLodge your annual compliance report
View screenshot tutorial: Lodge your annual compliance reportWhat to do after you lodge
View screenshot tutorial: What to do after you lodge
Supplementary learning
Official AUSTRAC e-learning
Learn directly from AUSTRAC. Create a separate AUSTRAC e-learning account to access these courses. Links open in a new tab so you can return to your work here.
- Module 1Introduction to AML/CTF
- Module 2AML/CTF Governance
- Module 3ML/TF risk assessment
- Module 4AML/CTF program
These courses are completed on AUSTRAC's site. AML Mate does not sync their completion or add them to your AML Mate training certificate.
Course links checked .
Non-compliance can carry significant penalties
AUSTRAC can seek civil penalty orders through the Federal Court. The maximum depends on the contravention and who committed it.
Read AUSTRAC enforcement guidance- Body corporate
- Up to $36.4m
- 100,000 penalty units
- Other persons
- Up to $7.28m
- 20,000 penalty units
- Penalty unit
- $364
- From 1 July 2026
Amounts shown as at 24 September 2026. A court determines any civil penalty. This guide is general information, not legal advice.
Find the next step for your practice.
Answer a few questions and get a clear list of what is already covered and what still needs attention.