Image: AI generated 1. What are ‘designated services’ and why do they matter? Under the AML/CTF Act, a business becomes a reporting entity if — and the moment — it provides a designated service and has a link to Australia. (For Tranche 2 entities providing designated services, the applicability date is 1 July 2026.) Designated services are identified because they carry potential money laundering and terrorism financing (ML/TF) risks. Once a business provides a designated serv

This articles explains the new concept of Reporting Group - introduces as part of the AML/CTF reforms - in an FAQ form.

Appointing an AML/CTF Compliance Officer in the new AML/CTF regime has some different rules to the game.

FAQs on a reporting entity engaging an AML/CTF adviser

AUSTRAC has undertaken a series of regulatory actions in 2025, a tone that is echoed in the recently released 2025–26 Regulatory Priorities. Together, these actions and priorities signal a clear message: compliance expectations continue to rise to mitigate financial crime risks, and failure to meet AML/CTF obligations will draw regulatory action. 2025 continues the intense momentum of reform for AUSTRAC as it rolls out the new AML/CTF regime across industry. Alongside these s