Australia Expands Anti-Money Laundering Laws to 100,000 Businesses

Australia implemented sweeping new anti-money laundering (AML) and counter-terrorism financing (CTF) laws on July 1, 2026. Known as Tranche 2 regulations, these reforms expand regulatory obligations beyond banks, casinos, and gold bullion dealers to include accountants, lawyers, and real estate agents. This expansion increases the number of regulated businesses from approximately 19,000 to nearly 100,000.

Under the new rules, covered businesses must perform customer due diligence and report suspicious activities to the Australian Transaction Reports and Analysis Centre (AUSTRAC). These reforms stem from a 2021 legislative action by the Australian parliament intended to address long-standing recommendations made by the Financial Action Task Force in 2003.

While the laws aim to generate intelligence for law enforcement, critics argue the changes may result in tick-the-box compliance and financial exclusion. Some suggest these outcomes may occur without necessarily increasing the overall efficiency of disrupting criminal schemes.