AUSTRAC has released its program starter kits, designed to help small businesses in newly regulated sectors meet their obligations and manage ML/TF risks.

This update sets out our expectations for current regulated businesses in progressing towards implementing these changes and meeting their obligations.

The AML/CTF reforms reinforce an outcomes-focused regulatory model. We are evolving our approach to prioritise:

• effective management of money laundering, terrorism financing and proliferation financing (ML/TF/PF) risks
• quality reporting.

To support this, we have developed our regulatory priorities for 2025–26. The regulatory priorities are the areas we will be focusing the majority of our regulatory effort over the next 12 months. 

This regulatory quick guide provides an overview of your obligations for customers or beneficial owners who are politically exposed persons (PEPs).

• Download the Regulatory quick guide - Politically exposed persons (PDF, 333KB)

Financial institutions can carry out applicable customer identification procedures (ACIP) in respect of a customer after commencing to open an account in certain circumstances. This is on the condition that appropriate risk-based systems and controls are in place, including to ensure no further designated services can be provided other than deposits to the account or designated services incidental to the opening of the account or a deposit.  

This guide has been developed for pubs and clubs who are licensed to operate electronic gaming machines (EGMs), to gain a thorough understanding of your AML/CTF obligations.

This information will help you understand and implement reforms related to correspondent banking, which came into effect on 17 June 2021.

This information will help you understand and implement reforms related to customer due diligence, which came into effect on 17 June 2021.