AUSTRAC has begun issuing infringement notices after identifying businesses that failed to enrol with AUSTRAC as required under Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws.
The enforcement action follows formal requests for information issued by AUSTRAC in August to businesses that had not enrolled but appeared to be providing designated services.
The infringement notices were issued to businesses in the real estate, accounting and jewellery sectors that AUSTRAC believes failed to enrol within 28 days of providing a designated service.
The notices were issued at $21,840 for corporate entities and $4,368 for individuals but can accrue on a daily basis.
AUSTRAC CEO Brendan Thomas said the majority of reporting entities were taking their new obligations seriously.
“We initially looked at a group of businesses where we had concerns about enrolment, and of these, around 90 per cent have now enrolled or attempted to enrol,” Mr Thomas said.
“That shows businesses are listening and responding to our expectations.
“The small number that continue to ignore their obligations should not expect AUSTRAC to ignore them.
“We are actively looking for businesses that haven’t enrolled and we will issue more infringement notices where necessary, so if you have obligations under the scheme, now is the time to come forward, get in touch with AUSTRAC and get enrolled.
“Enrolment is a simple first step, and there is no excuse for failing to take it.”
Businesses covered by Australia’s AML/CTF laws must be enrolled and taking steps to understand their obligations, assess their risks and put appropriate controls in place.
The AML/CTF regime expanded on 1 July 2026 to include businesses in sectors such as real estate, legal services, accounting, conveyancing, trust and company services, and dealing in precious stones and metals.
“Criminals look for opportunities to exploit legitimate businesses and transactions. When businesses fail to enrol, they weaken the safeguards designed to detect and disrupt serious financial crime.”
AUSTRAC is continuing to work with industry to provide clarity on the scope of designated services.
If a business is unsure about their obligation and our regulatory approach, they should visit AUSTRAC’s website or contact AUSTRAC Central for information.
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Email: media@austrac.gov.au
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