AML/CTF Tranche 2: Accountant Obligations from July 2026
In short: From 1 July 2026, Australian accountants who provide designated services, such as setting up or administering companies and trusts, are AML/CTF reporting entities. They must enrol with AUSTRAC, appoint a compliance officer, run an AML/CTF programme, complete customer due diligence, report suspicious matters and keep records, generally for seven years. Routine tax returns and bookkeeping alone may not trigger this.
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