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Free readiness check

How ready is your accounting practice for AUSTRAC Tranche 2?

Answer 12 questions and get an instant 0 to 100 readiness score, a breakdown by obligation, and your highest-impact gaps. Free, no login, about two minutes.

AUSTRAC Tranche 2 obligations commenced 1 July 2026 and have been in force for 53 days. This scores where you stand today, not where you need to be by a future date.

  1. 1. Have you enrolled your practice with AUSTRAC as a reporting entity?
  2. 2. Have you documented a money-laundering and terrorism-financing risk assessment for your practice?
  3. 3. Do you have a written AML/CTF program (Part A and Part B) in effect?
  4. 4. Have you appointed an AML/CTF Compliance Officer and set internal escalation rules?
  5. 5. Do you identify and verify customers before providing a designated service?
  6. 6. Do you apply ongoing and enhanced due diligence as customer risk changes?
  7. 7. Do you monitor client transactions and trust-account activity for unusual patterns?
  8. 8. Are you ready to lodge suspicious matter reports and threshold transaction reports on time?
  9. 9. Do you retain AML/CTF records for seven years in a retrievable way?
  10. 10. Is your AML/CTF program independently evaluated at appropriate intervals?
  11. 11. Do staff handling designated services receive AML/CTF training?
  12. 12. Do you screen customers against sanctions lists and identify PEPs?

Frequently asked

Is this legal advice or a guarantee of compliance?

No. The readiness check is a general guidance indicator that helps you see where your AML/CTF obligations stand for AUSTRAC Tranche 2. It is not legal advice and does not guarantee compliance. For advice on your specific obligations, consult a qualified professional.

How is the score calculated?

Your answers across 12 weighted obligation domains (enrolment, risk assessment, AML/CTF program, customer due diligence, monitoring, reporting, record-keeping, governance, independent review, training, and sanctions screening) are combined into a single 0 to 100 score and a readiness band. The weighting reflects how central each obligation is and how close the 1 July 2026 deadline sits. Each domain maps to a published AUSTRAC obligation.

Why is it built for accountants?

Accountants performing designated services (managing client money, forming companies or trusts, acting as a nominee) become reporting entities under the AML/CTF Act from 1 July 2026. The check is tuned to those obligations. Guides for lawyers, conveyancers, and real estate agents cover the same framework.

What happens to my answers?

Your score is computed in your browser. If you ask for the full gap report, we store only an anonymised, aggregated record of the answers (no firm name) to build sector benchmarks, and we use your email solely to send the report. Data is hosted in Australia.

I scored low. What now?

A low score means several obligations are not yet in place. Start with the highest-impact gaps the report lists. If you want the work done with you, the paid AUSTRAC readiness diagnostic baselines your own entity and maps every gap, and the fee credits to any annual plan if you proceed.

Not legal advice

This readiness check provides general AUSTRAC Tranche 2 compliance guidance and supports your compliance readiness. It is not legal advice and does not guarantee compliance. For advice on your specific obligations, consult a qualified professional.