AUSTRAC Readiness Scorecard
6 questions · 2 minutes · No login required
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Business profile
Three quick questions to tailor your scorecard.
Australia's AML/CTF reforms — the "Tranche 2" changes under the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 — extended the AML/CTF Act to six new sectors from 1 July 2026: conveyancers, accountants, law firms, real estate agents, dealers in precious metals and stones, and trust and company service providers. If your business provides a designated service in one of these sectors, you are now an AUSTRAC reporting entity. AUSTRAC enrolment closes 29 July 2026. This free tool checks where your firm stands across the six AML/CTF readiness dimensions.
The self-check covers your AML/CTF program, business-wide risk assessment (BWRA), KYC and customer due diligence, staff training, suspicious matter reporting, and audit evidence. It takes 2 minutes, requires no login, and is completely free — including pointing you directly to AUSTRAC's own sector-specific program starter kits, which are also free.
Your results are emailed with the order most firms work through their obligations, the key deadlines, and the direct link to AUSTRAC's official starter kit for your sector. Competitors charge $950–$1,470 for a readiness report. This one costs nothing — because AUSTRAC's materials are already free.
6 questions · 2 minutes · No login required
Three quick questions to tailor your scorecard.
You are an AUSTRAC reporting entity if you provide a 'designated service' under the AML/CTF Act. For Tranche 2 (commenced 1 July 2026), captured services include: assisting in the purchase, sale or transfer of real estate; accounting or legal services involving trust accounts or company/trust formation; buying or selling precious metals, precious stones or jewellery in cash transactions of A$10,000 or more; credit intermediary services (mortgage broking); and trust or company service provider (TCSP) activities such as company formation or nominee director services. Being captured applies regardless of firm size or how busy you are. If unsure, refer to AUSTRAC guidance at austrac.gov.au or seek legal advice.
The enrolment deadline for new Tranche 2 entities is 29 July 2026 — 28 days after obligations commenced on 1 July 2026. Enrolment is free and completed through AUSTRAC Online (austrac.gov.au). Providing a designated service without being enrolled is itself a breach of the AML/CTF Act. Most AFSL holders and Tranche 1 entities (banks, financial institutions) were already enrolled under the original 2006 regime.
A 'designated service' is a service listed in the AML/CTF Act that triggers AML/CTF obligations. For Tranche 2, these broadly cover: real estate transactions (buying, selling, transferring real property); accounting and legal services involving client funds or company/trust formation; precious metals and stones transactions above the cash threshold; credit intermediary services; and trust and company service provider activities. Whether you provide a designated service depends on what services you actually deliver — not your professional label, firm size, or what you consider your main activity.
Yes. AUSTRAC has published free AML/CTF Program Starter Kits for most Tranche 2 sectors, co-designed with industry peak bodies. Kits are available for law firms (legal profession), accountants, conveyancers, real estate agents, and dealers in precious metals and stones. Each kit includes a risk assessment template, AML/CTF policies, and supporting forms. They are designed for small, low-complexity practices — typically 15 or fewer personnel, single designated service, no high-risk or overseas clients. All kits are at: https://www.austrac.gov.au/industry-and-business/obligations-and-guidance/program-starter-kits. This self-check points you to your sector's kit in your emailed results.
No. The AML/CTF Act requires an AML/CTF program, CDD, suspicious matter reporting, and record-keeping — not software. For small, low-complexity practices, AUSTRAC's free starter kits provide templates you can implement manually. Software adds value when you need to evidence compliance at scale: automating CDD verification, keeping a tamper-evident audit log, running SMR timers, or evidencing training records to an inspector. Veriqua covers these functions for AUSTRAC and ASIC/AFSL obligations in one platform, but it is not a legal requirement.