Covered since 2007 (Tranche 1)
- Banks, credit unions and building societies: accounts, loans, cards, deposits.
- Remitters and currency exchanges.
- Casinos, betting and gaming venues.
- Bullion dealers.
- Superannuation funds, managed investment schemes, stockbrokers, custodians, life insurers with investment products.
- Digital currency exchanges (since 2018) and, from 31 March 2026, a broader set of virtual asset service providers.
Covered from 1 July 2026 (Tranche 2)
- Accountants and bookkeepers: managing client money or assets; creating, operating or managing companies, trusts or partnerships; assisting with the sale or purchase of real estate or a business; acting as nominee or registered office. Sector guide: LedgerAML.
- Real estate agents and buyers agents: brokering the sale, purchase or transfer of real estate; receiving deposits into trust; developers selling direct. Sector guide: RealtyAML.
- Lawyers and conveyancers: acting in property and business transactions; managing client trust money; creating and managing entities; nominee roles. Sector guide: PracticeAML.
- Trust and company service providers: the entity-related services above, offered as a business.
- Dealers in precious metals and stones: cash transactions at or above the threshold for metals, stones and jewellery.
Not covered
The recurring rule: the profession is not the trigger; the service is. A bookkeeper who controls client money is covered; one who reconciles the client's own bank feed is not.
- Tax returns, financial statements, BAS and payroll on their own.
- Residential property management and leasing on their own.
- Litigation, advice, wills and estates, criminal, family and employment law on their own.
- Retail and service businesses generally, unless they provide a designated service.
If you are covered
The obligations are the same across sectors: enrol, adopt a program, appoint a compliance officer, verify customers, review risk, report, keep records, train staff. The sector guides above walk through each for its profession, with checklists and a program template. For sectors they do not cover, AUSTRAC's guidance is the starting point.
Questions people ask
- Is my business a reporting entity?
- If it provides a designated service listed in the AML/CTF Act, yes. Check the sector lists above, then AUSTRAC's guidance for your sector. If still unsure, get advice; the cost of enrolling unnecessarily is small next to the cost of providing a designated service without enrolling.
- Are property managers covered?
- Residential property management and leasing on their own are not designated services. An agency that also sells property is covered for the sales.
- Are dealers in precious metals covered?
- Yes, from 1 July 2026, for cash transactions at or above the threshold set in the Rules.
General information about Australian AML/CTF law, not legal advice. The Act, the Rules and AUSTRAC's guidance are the primary sources.