THE ANTI-MONEY LAUNDERING

COMPLIANCE HANDBOOK

Publication date: 1 October 2025

‘The essential practical guide to financial crime for Australian AML/CTF compliance officers’

Exclusive to compli.net members

The essential resource for mastering financial crime compliance. THE ANTI-MONEY LAUNDERING COMPLIANCE HANDBOOK is a very simple and practical guide to financial crime for Australian AML/CTF Compliance Officers. This industry handbook is your must-have companion, tailored specifically for Australia’s compliance landscape. Featuring the latest insights for Tranche 2 entities and incorporating the critical December 2024 changes to the AML/CTF Act, this guide equips you with the knowledge and tools to stay ahead in the fight against money laundering and terrorism financing. Develop your compliance strategy, ensure regulatory excellence, and safeguard your organisation with this indispensable guide — available to members from 1st October.

Join compli.net now to ensure you are ready for the “go live” deadline of 1 July 2026.

The Essential Guide for AML/CTF Compliance Officers in Australia

A simple and practical how-to guide updated for Lawyers, Real Estate Agents, and Accountants

Overview

The AML Compliance Handbook: The Essential Guide for DNFBPs Under Australia’s AML/CTF Regime is a comprehensive resource tailored for Designated Non-Financial Businesses and Professions (DNFBPs)—including lawyers, accountants, real estate professionals, and dealers in precious metals and stones—navigating the newly expanded Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime in Australia. Effective from July 2026, this regime, governed by the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 and the accompanying AML/CTF Rules and Regulations, introduces significant obligations for Tranche 2 entities to combat money laundering, terrorism financing, and proliferation financing.

This handbook provides practical, actionable guidance to ensure compliance, mitigate risks, and align with international standards set by the Financial Action Task Force (FATF). Designed for compliance officers, it combines legal clarity, risk management strategies, and industry-specific insights to empower DNFBPs in safeguarding the Australian financial system.

Structure and Key Chapters

  1. Introduction to the 2026 AML/CTF Regime

    • Overview of the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024

    • Key objectives: Expanding to Tranche 2 entities, modernising regulations, and simplifying compliance

    • Timeline and commencement dates (e.g., enrolment by 31 March 2026, obligations from 1 July 2026)

    • Relevance to DNFBPs and their role in combating financial crime

  2. Understanding DNFBP Obligations

    • Definition and scope of designated services for Tranche 2 entities (e.g., real estate transactions, company formation, legal services, precious metals dealings)

    • Comparison with Tranche 1 reporting entities

    • Overview of regulatory expectations and AUSTRAC’s enhanced enforcement powers

  3. Enrolment and Registration Processes

    • Step-by-step guide to enrolling with AUSTRAC by 31 March 2026

    • Requirements for registration and maintaining compliance status

    • Common pitfalls and best practices for DNFBPs

  4. ML/TF Risk Assessments

    • Conducting initial and ongoing money laundering, terrorism financing, and proliferation financing risk assessments

    • Tailoring assessments to the nature, size, and complexity of DNFBP businesses

    • Documenting and reviewing risk assessments as per Rule 9

  5. Developing AML/CTF Programs

    • Structuring AML/CTF policies, procedures, systems, and controls (Rules 10-22)

    • Prevention of tipping off and information sharing protocols

    • Roles and responsibilities of AML/CTF compliance officers (Rule 23)

    • Personnel training and independent evaluations (Rules 14-16)

    • Approval and oversight by senior management (Rule 19)

  6. Customer Due Diligence (CDD) Requirements

    • Initial CDD: Establishing customer identity for individuals and businesses (Rules 25-29)

    • Exemptions and delayed verification processes (Rules 30-33)

    • Simplified and enhanced CDD obligations (Rules 34-35)

    • Deemed compliance scenarios (Rules 36-39)

    • Special considerations for politically exposed persons (PEPs) (Rules 40-41)

    • Managing nested service relationships (Rules 42-43)

  7. Reporting Obligations

    • Types of reports: Suspicious Matter Reports (SMRs), Threshold Transaction Reports (TTRs), International Value Transfer Service Reports (IVTS), and Cross-Border Movement Reports

    • Annual compliance reporting requirements

    • Procedures for assessing potential suspicious matters (Rule 18)

  8. Virtual Assets and Emerging Risks

    • Compliance with virtual asset transfer obligations (Rule 20)

    • Addressing proliferation financing risks in digital transactions

    • Adapting to technological changes and illicit financing methodologies

  9. Legal and Regulatory Compliance

    • Navigating legal professional privilege for lawyers under the new regime

    • Interaction with the Privacy Act 1988 and data protection obligations

    • Understanding civil penalties, enforceable undertakings, and remedial directions from AUSTRAC

  10. Practical Tools and Templates

    • Sample ML/TF risk assessment templates

    • CDD checklists for DNFBPs

    • AML/CTF program documentation examples

    • Forms for keep open notices and extension notices (Schedule 1, Forms 1-3)

  11. Training and Capacity Building

    • Designing effective personnel training programs

    • Leveraging AUSTRAC webinars and industry guidance

    • Building a culture of compliance within DNFBP organisations

  12. Case Studies and Best Practices

    • Real-world examples of AML/CTF compliance successes and failures among reporting entities

    • Industry-specific strategies for real estate, legal, accounting, and precious metals sectors

    • Lessons learned from AUSTRAC’s A$2.6 billion in enforcement actions (Commonwealth Bank, Westpac, Crown, SkyCity, Star, Mounties)

  13. Future-Proofing Compliance

    • Preparing for AUSTRAC supervision visits

    • Adapting to ongoing rule amendments and consultations

    • Strategies for staying informed through AUSTRAC updates and industry collaborations

  14. Glossary and Resources

    • Definitions of key terms (e.g., DNFBPs, designated services, PEPs)

    • References to the AML/CTF Act, Rules, and AUSTRAC guidance

    • Key regulators and agencies

This handbook will serve as an indispensable tool for DNFBPs, ensuring they meet their new regulatory obligations while protecting their businesses from criminal exploitation. It blends legal rigour with practical application, making it a vital resource as Australia strengthens its AML/CTF framework in 2026.