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CompliDesk blog

Practical AML/CTF guides for Australian Tranche 2 entities

No jargon. No fluff. Just practical guidance on AUSTRAC compliance, Tranche 2, and managing AML for your clients.

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Privacy Act
Your AUSTRAC Enrolment Just Triggered Privacy Act Obligations
From 1 July 2026, becoming a reporting entity brought your AML-related personal information under the Privacy Act — even under $3 million turnover. Here's what changed and how to comply.
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What Is Tranche 2? Here's the Simple Version
If you've heard people mention "Tranche 2" and felt a bit lost, you're not alone. Here's what it actually means, who it affects, and what to do — no legal jargon.
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What Is KYC? A Simple Explanation
KYC sounds technical, but it's really just "prove you are who you say you are." Here's what it actually involves.
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What Is a PEP? A Simple Explanation
PEP sounds like a strange term, but the idea behind it is simple. Here's what it means and what to actually do about it.
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What Is an SMR? A Simple Explanation
SMR sounds intimidating, but the idea is straightforward: if something looks genuinely off, you tell AUSTRAC. Here's how it actually works.
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What Is an AML/CTF Program? A Simple Explanation
Every Tranche 2 business needs one of these — but what actually is it? Here's the plain-English version.
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What Is Customer Due Diligence (CDD)? A Simple Explanation
CDD sounds like just another acronym, but it's the core idea behind all of Tranche 2. Here's what it actually means.
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What Is Beneficial Ownership? A Simple Explanation
Beneficial ownership sounds complicated, but the underlying question is simple: who's actually behind this company or trust?
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How Much Does Tranche 2 Compliance Actually Cost?
The honest, no-nonsense version of what this is actually going to cost you, without the sales pitch.
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What Happens If I Don't Comply With Tranche 2?
Not trying to scare you — just a straight answer on what actually happens if you skip this.
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Pricing guide
How much does AML compliance software cost in Australia? (2026 pricing guide)
The honest breakdown of what Australian AML/CTF compliance software actually costs — subscription fees, per-check charges, hidden fees, and how to calculate your real annual spend before you commit to a platform.
📅 June 2026 ⏱ 8 min read 💡 Featured
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AUSTRAC
AUSTRAC enrolment checklist for professional services firms (2026)
Step-by-step guide to enrolling your accounting firm with AUSTRAC before the 29 July 2026 deadline. What you need, what to avoid, and what comes next.
📅 June 2026 ⏱ 6 min read
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Practice management
How to manage AML/CTF compliance for multiple clients as an accountant
Most AML software is built for one firm. If you're an accountant managing compliance for 10, 20 or 50 clients, here's how to build a scalable system that doesn't take over your practice.
📅 June 2026 ⏱ 7 min read
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AUSTRAC reporting
SMR and TTR reporting — when and how to report to AUSTRAC
The two mandatory AUSTRAC reports every accounting firm needs to understand — Suspicious Matter Reports and Threshold Transaction Reports. Deadlines, how to lodge, and the tipping-off rules explained.
📅 June 2026 ⏱ 7 min read
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Legal
AML/CTF Compliance for Lawyers in Australia: What You Need to Know in 2026
Which legal services are captured, what KYC is required, and how law firms can meet their AUSTRAC obligations efficiently.
June 2026 · 7 min read
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Real Estate
AUSTRAC Tranche 2 for Real Estate Agents: Complete AML Compliance Guide 2026
KYC requirements, suspicious transaction red flags, SMR obligations and record keeping for property professionals.
June 2026 · 8 min read
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Conveyancing
AML/CTF Compliance for Conveyancers: AUSTRAC Tranche 2 Guide 2026
When conveyancing obligations begin, what to verify for property buyers and sellers, and red flags to watch for.
June 2026 · 6 min read
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TCSP
AML/CTF for Trust and Company Service Providers: AUSTRAC Guide 2026
TCSPs face the most complex KYB obligations. Learn what beneficial ownership tracing, entity verification and ongoing monitoring requires.
June 2026 · 8 min read
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Precious Metals
AML/CTF Compliance for Precious Metals and Stones Dealers: AUSTRAC 2026 Guide
Cash transaction thresholds, TTR obligations, and risk assessment requirements for gold, silver and gem dealers.
June 2026 · 6 min read
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Crypto & VASP
AML/CTF Compliance for Virtual Asset Service Providers in Australia 2026
VASP registration, Travel Rule compliance, enhanced KYC for crypto customers and transaction monitoring requirements.
June 2026 · 7 min read
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KYB
KYC for Companies and Trusts in Australia: A Complete KYB Guide for Tranche 2
How to verify companies, trusts and partnerships — beneficial ownership tracing, director verification and AI document scanning.
June 2026 · 9 min read
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AUSTRAC
How to Enrol with AUSTRAC Before the 29 July 2026 Deadline
Step-by-step guide to AUSTRAC enrolment — what information you need, how to use the portal, and what happens after.
June 2026 · 5 min read
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Screening
PEP Screening in Australia: What is a Politically Exposed Person and What Must You Do?
Who qualifies as a PEP, how long PEP status lasts, and what Enhanced Due Diligence is required under AUSTRAC.
June 2026 · 7 min read
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Reporting
Suspicious Matter Reports (SMRs): A Complete Guide for Australian Tranche 2 Entities
When to lodge an SMR, time limits, the tipping-off prohibition, and common red flags by sector.
June 2026 · 8 min read
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Record Keeping
AUSTRAC Record Keeping Requirements: What Must You Retain and For How Long?
7-year retention requirements, which records must be kept, format options and how to produce records to AUSTRAC.
June 2026 · 6 min read
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EDD
Enhanced Due Diligence (EDD): When Is It Required and What Must You Do?
Which clients trigger EDD, source of wealth vs source of funds, what documentation is required and how to record it.
June 2026 · 7 min read
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Ongoing CDD
Ongoing Customer Due Diligence: What AUSTRAC Requires After Onboarding
Transaction monitoring, when to re-verify, ongoing screening obligations and managing your KYC review cycle.
June 2026 · 6 min read
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AML Program
What Must an AML/CTF Program Include? AUSTRAC Requirements for 2026
Part A and Part B requirements, risk assessment foundations, staff training and independent review obligations.
June 2026 · 8 min read