Anti-money laundering guide and checklist
Anti-money laundering guide and checklist
Is your business prepared for the upcoming anti-money laundering regulations?
From 1 July 2026, anti-money laundering and counter-terrorism financing (AML/CTF) obligations will be extended to high-risk services provided by designated non-financial businesses and professions (DNFBPs) or ‘Tranche 2’ entities, including:
Real estate professionals – such as real estate agents, buyers’ agents and property developers- Dealers in precious stones, metals and products
- Lawyers
- Conveyancers
- Accountants
- Trust and company service providers.
Regulated by AUSTRAC, the reform aims to improve Australia’s resilience against money laundering and terrorism financing activities, and it’s important to note that there will be different obligations for both new and existing reporting entities. The new legislation is complex, so it’s important to start preparing as soon as possible.
Our anti-money laundering guide and checklist will assist you to understand the changes for your business, identify any potential compliance gaps under the new AML/CTF Act, and start preparing before July next year.
How BDO can help
Navigating the new obligations can be complex. Our forensic services experts have the technical understanding and extensive experience in AML services to support you in implementing a compliant framework tailored to your business needs.
To discuss your business’ AML/CTF framework, complete the checklist and contact us for a complimentary consultation.