What is AUSTRAC Tranche 2 and does it affect my business?

AUSTRAC Tranche 2 refers to the expansion of Australia's AML/CTF regime to non-financial businesses under the AML/CTF Amendment Act 2024. As of 1 July 2026, lawyers, accountants, real estate agents, conveyancers, jewellers and pawnbrokers providing designated services must comply with the same AML/CTF obligations that have applied to banks and casinos since 2006. Whether your business is affected depends on the specific services you provide - not your industry category alone. Use Klyvon's free eligibility checker at klyvon.com.au/am-i-regulated.

What is the enrolment deadline and what happens if I miss it?

Enrolment with AUSTRAC opened on 31 March 2026. The final deadline to enrol is 29 July 2026. All AML/CTF obligations - including having an AML/CTF program in place - are already in effect as of 1 July 2026. Operating as a reporting entity without enrolling is a civil penalty provision under the AML/CTF Act 2006 - no intent is required. Daily penalties accrue from the date you began providing designated services without enrolment.

When does compliance become mandatory?

All AML/CTF obligations under Tranche 2 are already in effect as of 1 July 2026. This means your AML/CTF program must be in place, your compliance officer must be appointed, and your customer due diligence procedures must be operational now. If you haven't completed enrolment or appointed your compliance officer yet, do so as soon as possible.

What penalties apply if I don't comply?

Civil penalties under the AML/CTF Act 2006 are calculated in penalty units. Maximum penalties are significant — up to 100,000 penalty units per contravention for bodies corporate. Daily penalties accrue for each day of non-enrolment. Actual penalties are determined by the Federal Court based on the specific facts of each case. AUSTRAC publishes all enforcement actions publicly.

What do I actually need to have in place now that Tranche 2 is in effect?

As of 1 July 2026, in-scope businesses must have: (1) enrolled with AUSTRAC at online.austrac.gov.au; (2) conducted a money laundering and terrorism financing risk assessment; (3) developed and implemented a firm-specific AML/CTF program covering a risk management framework and customer identification procedures; (4) appointed a compliance officer; (5) established customer due diligence procedures; and (6) trained staff. Klyvon builds all required documents in one session - get started free at klyvon.com.au/signup.

Is Klyvon a law firm? Is this legal advice?

No. Klyvon is not a law firm and does not provide legal advice. Klyvon is a compliance technology platform that generates AML/CTF program documents based on AUSTRAC's published sector guidance and the AML/CTF Act 2006. All documents are generated as a starting point for your review - final decisions and sign-off remain with your firm and its compliance officer. Klyvon recommends review by a qualified compliance adviser before operational reliance.

How long does it take to get compliant using Klyvon?

Klyvon generates your complete AML/CTF program document in one session after you answer questions about your firm. Total time from signup to having a draft program ready for review is typically under 10 minutes. This compares to 2-6 weeks using the AUSTRAC free starter kit manually, or 4-8 weeks engaging a compliance consultant. Your compliance officer still needs to review and sign off the program before it is operational.

How is Klyvon different from hiring a consultant?

A compliance consultant takes 4-8 weeks and produces a program citing the law as it stood when they last updated their template. Klyvon builds your program in one session, built to the current law — not a generic reference. The output is a dated, firm-specific audit artifact you can hand to AUSTRAC or a court. You still own and sign off the program - but you are not starting from a blank page.

What happens after I generate my program?

Your AML/CTF program is generated pre-filled with your firm's details and industry-specific obligations. Essential plan users can download it as a PDF. From there: review it with your compliance officer, submit your AUSTRAC enrolment using the included guide, then use the compliance calendar for ongoing obligations — staff training refreshes, your first Annual Compliance Report due 30 September 2027, and suspicious matter reporting.

Does Klyvon include sanctions screening?

Targeted financial sanctions screening is now part of your AML/CTF program obligation under the AML/CTF Rules 2025 - not a separate exercise. Klyvon's generated program includes the required policy controls for targeted financial sanctions. You will still need to screen clients against the DFAT Consolidated List as part of your CDD workflow. Klyvon does not run live screening checks, but your program documents exactly when and how to do it.

AML/CTF Compliance for Australian Businesses

WHAT'S INCLUDED

Four obligations. One session. Zero gaps.

01AML/CTF Program

Built from your answers — your services, your client types, your risk profile. Not a generic template with your name on it.

02Risk Assessment

A documented ML/TF risk assessment across every service and delivery channel your firm operates. The first thing an AUSTRAC audit asks for.

03Staff Training

Everyone who touches a designated service must be trained before obligations commence. CPD letters generated automatically. Records kept 7 years.

04Compliance Calendar

Missing an ACR, a CDD expiry, or your annual review is a contravention. Every date tracked and surfaced before it becomes a problem.

From zero to compliant. Here's how it works.

Tell us about your firm

Your sector, your services, your client types. Eight questions that shape everything — no generic assumptions, no manual edits later.

~5 MINUTES

Your program is built

A complete AML/CTF program written to your answers and current law. Ready to review, sign off, and hand to AUSTRAC. Not a template — yours.

INSTANT

The platform takes it from here

Law changes get flagged. Annual reviews surface before they're due. Staff training tracked. You run your firm — Klyvon runs the compliance calendar.

ONGOING

Three records AUSTRAC asks for in every audit.

When AUSTRAC reviews your firm, they look beyond the program document. These three records show decisions were made, roles were assigned, and changes were approved — all with timestamps.

SMR Decision Record

Records decisions on suspicious matters — whether reported or not, and why

CO Designation Record

Records your compliance officer appointment and suitability

14-Day Change Approval

Documents program updates within the required 14-day timeframe

Pick your plan. Upgrade anytime.

Start free. Move to Essential when you're ready for full coverage.

FREE

For firms getting started

Free

Permanent free plan

AML/CTF Program — full preview

AML Guidance Engine †

Client Due Diligence Register ††

Suspicious Matter Report Drafter ††

Staff Training ††

Get Started Free →

No credit card required

ESSENTIAL

FULL COVERAGE

For firms that need full compliance coverage

$299

/month

Priced in AUD, ex GST

$0 setup · Cancel anytime

AML/CTF Program — audit-ready PDF

Compliance Officer Letter

CDD Procedures document

AML Guidance Engine

Unlimited CDD records + exports

High-volume SMR drafts + register

Unlimited staff training + certificates

Annual review package

Get Essential →

† AML Guidance Engine limited to 5 queries/day on free plan
†† Usage limits apply on free plan

Klyvon covers your AML/CTF program, training, and compliance records. For identity verification (KYC/KYB), use your existing tool or any provider you prefer — Klyvon stores and manages the records either way.

Compare plans in detail

Feature	Free	Essential
Day-to-day compliance
CDD client records	5 clients	Unlimited
Staff training seats	2 seats	Unlimited
Training certificates	—	Included
SMR drafting	2 drafts / month	High-volume + register
AML Guidance Engine	5 queries / day	Extended daily allowance
Documents & reviews
AML/CTF Program	Full preview	Audit-ready PDF
Supporting documents — CO letter, CDD procedures, SMR guide	—	Included
Client audit exports (PDF)	—	Included
Annual review package	—	Included
AUSTRAC Enrolment Guide	Included	Included

Not sure what's at stake?

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🇦🇺

Australian-hosted

Data never leaves AU shores

7yr

Record retention

Meets AUSTRAC record-keeping rules

Session to compliant

Program, training, enrolment guide — done together

Documents generated

AML program, CO letter, CDD procedures, enrolment guide

🤝

AU-based support

Local team, no offshore call centre

Plan questions

The law is complicated.