This guide explains how Australia’s Tranche 2 reforms will bring accountants into the AML/CTF regime for the first time, transforming their role from trusted advisers to active gatekeepers against financial crime. It outlines new obligations, key risks, and the practical steps firms must take to meet AUSTRAC expectations ahead of the 2026 deadline.
What’s in the guide
- Overview of Tranche 2 reforms and why accountants are now in scope
- Which accounting services are captured under AML/CTF rules
- Core obligations, including CDD, monitoring, reporting, and programme requirements
- Detailed risk areas such as complex structures, offshore clients, and trust account misuse
- Red flags and real-world scenarios relevant to accounting firms
- Practical guidance on building a risk-based AML/CTF programme and culture