With the new AML/CTF reforms coming into effect, current reporting entities and newly regulated businesses need to know how the transitional and amendment rules will apply in practice. These rules are now finalised and set out the timeframes and requirements to help businesses update their systems and processes while continuing to manage money laundering and terrorism financing (ML/TF) risks.

Check if these rules apply to you.

Travel rule

If you are a business that transfers or receives money, virtual assets or property on behalf of your customers, you may need to collect, verify and share specific information with other businesses in the transfer. 

The travel rule typically applies to financial institutions, remittance service providers and virtual asset service providers. 

You can refer to the below quick guides to help you meet your travel rule obligations for each type of transfer as the:

Transitional rules

We’ve worked with the Australian Department of Home Affairs to finalise the transitional rules that support the rollout of the AML/CTF reforms.

Our aim is to give reporting entities practical time to update their systems and processes, while continuing to effectively manage their ML/TF risks.

Key points for reporting entities:

  • Initial customer due diligence (CDD): Entities have a 3-year transition period (31 March 2026 to 30 March 2029) to move from current applicable customer identification procedures (ACIP) to the new initial CDD framework.
  • AML/CTF compliance officer notification: Entities must notify AUSTRAC of any changes to their compliance officer by 30 May 2026.
  • Independent evaluations: Entities that have recently completed an independent review will be given an extended timeframe for their first post-reform evaluation.
  • New virtual asset service provider (VASP) services: Obligations for new virtual asset services, including travel rule requirements, are deferred until 1 July 2026.

For further details, refer to the AML/CTF transitional rules update. 

Amendment rules

Visit Amendments to the AML/CTF Rules to read a detailed summary of the changes. 

For more information visit About the AML/CTF reforms.

Need support

If you need further support you can email contact@austrac.gov.au or call the Contact Centre on 1300 021 037.