AML/CTF Articles

Plain-English guides for
Australian accountants

Everything you need to understand your AML/CTF obligations under Tranche 2 — from AUSTRAC registration to penalties, written for small accounting firms.

1 July 2026: AML/CTF obligations commence for accountants. Enrolment opens 31 March 2026.
Get compliant free →
01
AUSTRAC · Registration · Start here
Do I Need to Register with AUSTRAC? A Guide for Australian Accountants
The #1 question small firms are asking right now. If your firm provides any of the nine designated accounting services, you must enrol. This plain-English guide tells you exactly who needs to enrol, when, and what happens if you don't.
6 min read · March 2026 Read guide →
02
AML/CTF Program
What is an AML/CTF Program and How Do I Write One?
Every firm providing designated services needs an AML/CTF program in place before 1 July 2026. This guide explains what it must contain and how to use AUSTRAC's free Accounting Starter Kit to build yours.
7 min read →
03
Deadlines · Timeline
AML/CTF Tranche 2 Deadlines: What Accountants Need to Do and When
A complete timeline of every deadline — from enrolment opening 31 March 2026, to obligations commencing 1 July, to the final enrolment deadline of 29 July 2026. Includes a pre-July checklist.
5 min read →
04
Customer Due Diligence · CDD
What is Customer Due Diligence and How Does It Apply to Accountants?
CDD is the most day-to-day compliance obligation. This guide explains initial CDD, ongoing CDD, enhanced CDD for high-risk clients, and the transitional rules for your existing client base.
7 min read →
05
Penalties · Enforcement
AML/CTF Penalties for Accountants — What Happens If You Don't Comply?
Civil fines up to $31.3M per breach. Daily penalties of $18,780. Criminal liability. Reputational damage. This guide sets out the real consequences of non-compliance — and what triggers enforcement action.
6 min read →
06
Risk Assessment · How-to
How to Complete Your AML/CTF Firm Risk Assessment
A step-by-step guide to completing your firm-level ML/TF/PF risk assessment before 1 July 2026. Covers designated services, client types, geographic exposure, risk appetite statement, and free template.
8 min read →
07
AML/CTF Program · How-to
How to Create an AML/CTF Program for Your Accounting Practice
Everything you need to build your AML/CTF program from scratch — Part A, Part B, what each section must cover, senior manager approval, and five free templates ready to customise.
9 min read →
08
Comparison · Tools
AML/CTF Software for Australian Accountants — An Honest Comparison
SimpleAML vs easyAML vs TrustEasy vs First AML vs the AUSTRAC Starter Kit. Pricing, features, pros and cons — and an honest take on what suits a sole practitioner versus a larger firm.
10 min read →
09
AUSTRAC Enrolment · How-to
How to Enrol with AUSTRAC — Complete Your Program First
Enrolment opened 31 March 2026 — but before you go to AUSTRAC Online, your program must be ready. This guide covers all three phases: complete your AML/CTF program, enrol with AUSTRAC, then save your Compliance Report as proof.
9 min read →