AUSTRAC Tranche 2 · Compliance Cost Guide
How much does AML compliance cost in Australia?
- $299/mo
- Klyvon Essential
- $28,650
- Gov. Upfront Est.
- 1 session
- Klyvon Time to Comply
AML/CTF compliance cost varies by business size and the approach used. The Australian Government’s August 2024 Impact Analysis estimates regulatory burden by turnover: from $4,460 upfront and $6,020 annually for businesses with turnover up to $200,000, to $85,550 upfront and $82,660 annually for businesses with turnover of $10 million or more. Consultant pricing and Klyvon’s advertised $299/month price are separate from those government estimates.
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 regulatory burden by business turnover. For the $200k–$2m turnover tier, the estimated regulatory burden is $28,650 upfront and $33,230/year ongoing.
Methodology:The turnover table reproduces the regulatory-burden estimates in Table 19 of the Australian Government’s August 2024 Impact Analysis. These estimates include multiple compliance inputs and are not consultant quotations. Klyvon figures are advertised product pricing. External professional-service pricing varies by provider, scope and business complexity.
Primary source: Office of Impact Analysis — Anti-Money Laundering and Counter-Terrorism Financing Regime reforms
| 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 | Staff time varies | Very simple businesses with time available |
| Boutique AML consultant | Quoted by provider | Quoted by provider | Varies by scope | Small-medium firms wanting expert guidance |
| Law firm / Big 4 | Quoted by provider | Quoted by provider | Varies by scope | Complex, high-risk, multi-service businesses |
| Klyvon Essential | From $299/month | $3,588/year | Generated draft + 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) | Varies by scope | Included |
| AML/CTF program (risk framework + CDD) | $0 (internal time) | Varies by scope | Included |
| CDD templates | $0 (internal time) | Varies by scope | Included |
| Compliance officer letter | $0 (template) | Varies by scope | Included |
| Staff training | $0 (DIY) | Varies by scope | 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, or use the penalty calculator to weigh the cost of non-compliance against the cost of a program.
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 requires internal staff time; compliance software can prepare documents and help maintain registers.
Small–medium firm ($200k–$2m turnover)
Government estimate for this Impact Analysis turnover tier: $28,650 upfront and $33,230/year. Software and external professional-service pricing should be assessed separately against the scope and support the business requires.
Larger or complex firm ($2m+ turnover)
Government estimates: $38,130–$85,550 upfront, $43,750–$82,660/year. External professional-service and software options should be assessed separately against the scope, complexity and support the business requires.
VI. Reference
Frequently asked questions
VII. How Klyvon Helps
From $299/month — no consultant required
Complete program draft
Klyvon generates your risk framework and CDD procedures for review.
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
Klyvon provides AML/CTF guidance for real client situations.
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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