Changes to AntiMoney Laundering Reporting in Australia

As seen in Woopi News February 2026

Australia’s antimoney laundering and counterterrorism financing (AML/CTF) framework is undergoing significant reform with changes to reporting obligations, and expansion of who must comply with AML/CTF reporting over the 2025-2026 period.

From 1 July 2026, professional “gatekeeper” services will be regulated for the first time. These newly regulated businesses include accountants, lawyers, trust and company service providers, real estate professionals, and dealers in precious metals and stones. Existing reporting entities, such as banks and digital currency exchanges, remain regulated but will also need to comply with updated requirements under the reformed regime.

Accountants and other newly regulated businesses need to prepare systems and policies, as well as providing training to staff prior to enrolling with Australian Transaction Reports and Analysis Centre (AUSTRAC) from 31 March 2026.

The new reporting obligations are reported as being more detailed and risk focused. Suspicious Matter Reports (SMRs) and Threshold Transaction Reports (TTRs) will require clearer identification or customers/clients and the nature and purpose of transactions.

Suspicious Matter Reports inform AUSTRAC of suspicion that a person or transaction is linked to crime. This includes the reasonable suspicion that a person is committing a crime, is not who they claim to be, or could be the victim of a crime.

A threshold transaction is the transfer of physical cash of $10,000 or more as a part of providing a designated service.

Designated services include a range of business activities in the financial services, bullion, gambling, remittance, virtual asset service providers, real estate, professional services and dealers in precious metals, stones and products sectors. 

Transaction Threshold Reports provide information to AUSTRAC on threshold transactions. Reporting entities must demonstrate that their AML/CTF programs, customer due diligence, and reporting processes are tailored to the actual money laundering risks faced by their business. AUSTRAC has made clear that high quality, timely reporting will be a central focus of supervision and enforcement from 2026 onwards.