AUSTRAC clarifies new AML/CTF obligations for reporting entities
The regulator has outlined the key actions businesses must take under Australia’s reformed AML/CTF framework.
Australia.- The Australian Transaction Reports and Analysis Centre (AUSTRAC) has published new guidance outlining how reporting entities must comply with the new anti-money laundering and counter-terrorism financing (AML/CTF) framework, which took effect on March 31, 2026. There are no major changes for gambling operators as the reforms mainly expand coverage of the requirements.
Any business providing a designated service with a link to Australia must enrol with AUSTRAC, while remittance and virtual asset service providers must both enrol and register by July 29. For currently regulated entities, including casinos, bookmakers, and pubs and clubs with gaming machines, there’s a continuation of requirements already in force, including a documented risk assessment, an AML/CTF programme addressing money laundering, terrorism financing and proliferation financing risks, and a governance structure with clearly defined roles for the governing body, senior management and a fit-and-proper AML/CTF compliance officer.
The guidance also details transitional arrangements relevant to multi-venue and group operators. Businesses that share compliance functions can do so through a reporting group with a lead entity.
Entities enrolled before March 30, 2026, may also continue applying existing customer identification procedures during a three-year transitional grace period until March 30, 2029 while transitioning to the new customer due diligence standard, provided they notify AUSTRAC of their applicable customer classes and timelines.
