Newly regulated entities must have an AML/CTF program, compliance officer, trained staff, carry out customer due diligence, report suspicious matters and keep records. New virtual asset services (incl. travel rule) also start.
Identity: client identity verification and beneficial-owner checks are required for regulated services. AML: you need a program, a compliance officer, trained staff, PEP/sanctions screening, suspicious matter reporting and record keeping. People and budget: this changes how client intake works across the firm, so partners or owners need to set aside time and resources.
Lawyers, Accountants, Real estate, Conveyancers, Trust & company service providers, Dealers in precious metals/stones
https://www.austrac.gov.au/amlctf-reform/austrac-regulatory-expectations-and-priorities-2025-26