AUSTRAC has now released its long awaited sector specific guidance for newly regulated Tranche 2 industries, including real estate, accounting firms, law firms, conveyancers and dealers in precious metals and stones.

 

As part of this guidance, AUSTRAC has published AML Program Starter Packs designed to help businesses understand their money laundering and terrorism financing risks and take the first steps toward building compliant AML/CTF programs.

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The Starter Packs are a helpful foundation and are clearly intended to make risk assessments and AML policy development more accessible. That said, we’re not surprised to hear that many businesses across these sectors are still asking “What does this actually mean for us?” Translating high-level guidance into a practical, risk-based AML program that fits your business model, customers, transactions and systems can be challenging, particularly for businesses encountering AML obligations for the first time.

 

That’s where Agentic AML comes in. Our AML professionals have been helping businesses design, implement and operate AML programs for many years, across a wide range of regulated industries. We’re now here to support newly regulated Tranche 2 entities in turning AUSTRAC’s guidance into something workable and fit-for-purpose.

 

You can absolutely have a go at building it yourself, or you can engage our team to help you get it right the first time, with confidence that your AML framework reflects both regulatory expectations and the realities of how your business operates.