What is tranche 2, in one page, after it has started

People still search “what is tranche 2” after the start date, because the briefing they saved was written in the future tense. As of 2 October 2026 the commencement date has passed. AUSTRAC’s summary of obligations for tranche 2 entities is the official list of what follows a yes. Who and what AUSTRAC regulates is the front door. Checked on 2 October 2026. This is general information, not legal advice. This page does not reproduce those pages. The sector map on this site is /tranche-2.

The one-page answer

• It is a set of services, not a job title. Accountant, lawyer, conveyancer, and agent are not designated services. The activity on this file is the test.
• It has started. Compliance obligations for the new services commenced on 1 July 2026. A firm that is providing one of those services now is in the live regime, not in a preparation year.
• A yes has consequences. Enrolment, a written program, and customer due diligence on that service. They are three jobs. This page names them. It does not walk them.
• Older tranche 1 businesses were already in. Banks, bullion, and gambling businesses were regulated before this extension. Tranche 2 is the further list, not a replacement of that regime.

What changes once the date has passed

Before 1 July 2026 the useful question was “what should we have ready”. After that date the useful question is “are we providing a designated service this week”. If yes, the duties apply to that service. AUSTRAC opened enrolment on 31 March 2026. Firms already providing a new designated service on day one were pointed at 29 July 2026 to enrol. That window has passed. If you are still providing the service and you have not enrolled, enrol on AUSTRAC’s site. Late and post-enrolment steps are the enrolment note. This page does not lodge the application.

A firm that starts a designated service later enrols before it provides that service. Edge cases need advice. Do not treat a missed July date as a reason to keep going quietly, and do not treat enrolment as a software fee.

Where the longer pages are

This page is parent context in one page. It is not the main explainer, and it does not replace the pages that already exist. If you already know the basics and want the next step, that note is Tranche 2 next steps. The Act in plain English, which is not a job map, is AML/CTF Act designated services. The map from Monday’s work to the usual item is AML/CTF designated services mapped to real jobs. Initial versus ongoing is AUSTRAC customer due diligence.

If the service is in, the check is client-pays

On FreeAML the firm suite is A$0. The firm emails the client a link when the program says the matter is in. Verification is client-pays. On the public list a personal KYC check is A$20 and a company or trust KYB check is A$40. Confirm the live amounts on FreeAML pricing. KYB is for a company or a trust. FreeAML does not decide the designated service, does not enrol the firm, and does not replace the guide on /tranche-2.

Frequently Asked Questions