Obligations are in effect·Enrolment deadline: 29 July 2026—10 days remaining
AUSTRAC Tranche 2 · Compliance Cost Guide
How much does AML compliance cost in Australia?
- $5k–$50k+
- Consultant Range
- $299/mo
- Klyvon Essential
- $28,650
- Gov. Upfront Est.
- 1 session
- Klyvon Time to Comply
I. What The Government Says
Costs are tiered by turnover, not a flat figure
he Australian Government’s Impact Analysis for the AML/CTF Amendment Act 2024 estimates compliance costs by business turnover. A typical small-to-medium professional services firm — turnover $200k–$2m, the bracket most Tranche 2 entities fall into — faces an estimated $28,650 upfront and $33,230/year ongoing.
| Turnover | Upfront | Annual |
|---|---|---|
| $0 – $200k | $4,460 | $6,020 |
| $200k – $2m | $28,650 | $33,230 |
| $2m – $10m | $38,130 | $43,750 |
| $10m+ | $85,550 | $82,660 |
II. Full Cost Comparison
Four approaches, one decision
| Approach | Setup cost | Annual cost | Time to comply | Best for |
|---|---|---|---|---|
| DIY — AUSTRAC starter kit | $0 | Staff time only | 2–6 weeks | Very simple businesses with time available |
| Boutique AML consultant | $5,000–$15,000 | $3,000–$8,000 | 3–8 weeks | Small-medium firms wanting expert guidance |
| Law firm / Big 4 | $20,000–$50,000+ | $10,000–$25,000+ | 4–12 weeks | Complex, high-risk, multi-service businesses |
| Klyvon Essential | From $299/month | $3,588/year | One session + review | Small–medium firms in all 5 Tranche 2 industries |
III. What's Included
The total cost breaks down into these components
Every Tranche 2 business needs the same core deliverables — the difference is who builds them, and at what price.
| Component | DIY | Consultant | Klyvon |
|---|---|---|---|
| ML/TF risk assessment | $0 (internal time) | $2,000–$5,000 | Included |
| AML/CTF program (risk framework + CDD) | $0 (internal time) | $3,000–$8,000 | Included |
| CDD templates | $0 (internal time) | $500–$2,000 | Included |
| Compliance officer letter | $0 (template) | $300–$1,000 | Included |
| Staff training | $0 (DIY) | $1,000–$3,000 | Included |
| AUSTRAC enrolment guide | $0 (free) | Often included | Included |
IV. The Real Cost of Non-Compliance
Framing compliance purely as a cost misses the other side of the ledger
Non-compliance with the AML/CTF Act 2006 carries civil penalties of up to $36,400,000 per contravention (based on the penalty unit rate of $364, effective 1 July 2026) for bodies corporate and $21,840 per day for non-enrolment. AUSTRAC publishes all enforcement actions publicly — the reputational consequences extend beyond the financial penalty.
See the full list of past enforcement actions on the AUSTRAC Penalty Register.
V. Which Approach Fits Your Firm Size
The right approach depends mostly on size and complexity
These figures reuse the government's turnover-tiered estimates and the comparison table above.
Sole practitioner or 1–3 staff
Government estimate for the $0–$200k turnover tier: $4,460 upfront, $6,020/year. DIY with AUSTRAC's free starter kit is workable if you can spare 2–6 weeks of internal time; compliance software gets the same documents done in a session and keeps the registers maintained for you.
Small–medium firm ($200k–$2m turnover)
Government estimate: $28,650 upfront, $33,230/year — the bracket most Tranche 2 entities fall into. Compliance software covers the program, CDD templates, training and registers at a fraction of that; add a one-off consultant review if your services are higher-risk.
Larger or complex firm ($2m+ turnover)
Government estimates: $38,130–$85,550 upfront, $43,750–$82,660/year. Multi-service or high-risk businesses generally need a consultant or law firm to tailor the program — software still earns its keep for day-to-day CDD records, training and reporting registers.
VI. Reference
Frequently asked questions
VII. How Klyvon Helps
From $299/month — no consultant required
Complete program, one session
Klyvon generates your risk framework and CDD procedures in one session — no weeks-long consultant engagement.
Reviewed by your CO
Every document is a starting point for review by your compliance officer. All decisions and adoption remain with your firm.
Built on current law
Drafted against the AML/CTF Act 2006, the AML/CTF Amendment Act 2024, and current AUSTRAC guidance.
Answers instead of pointing you at a PDF
No other Tranche 2 platform in Australia does this.
Free to start · cancel anytime
Related resources
AUSTRAC Penalty Register
Every enforcement action since 2006
Complete Tranche 2 Guide
Obligations, deadlines, penalties
Am I Regulated?
60-second eligibility checker
What is an AML Program?
Plain English explainer
Lawyers Guide
Full sector guide
All resources
Every guide, sector explainer and tool
General guidance only · Not legal advice