AML/CTF Program
Written policies to identify, mitigate and manage ML/TF risks.
Compliance
AML Compliance. Meet Your Obligations
AML compliance requirements for Australian businesses. Learn about AML checks, programs, and AUSTRAC obligations.
What is AML compliance?
AML compliance means meeting your obligations under Australia's Anti-Money Laundering and Counter-Terrorism Financing Act 2006. According to AUSTRAC, your AML/CTF program protects your business from criminal exploitation through money laundering, terrorism financing and proliferation financing.
It helps you fulfil your obligations and contributes to a safer Australian financial system.
AML compliance requirements
Risk Assessment
Identify and assess your money laundering and terrorism financing risks.
Customer Due Diligence
Know your customers, beneficial owners, and PEPs.
Transaction Monitoring
Monitor transactions for suspicious activity.
Reporting
Submit SMRs, TTRs, and compliance reports to AUSTRAC.
Record Keeping
Maintain records for 7 years minimum.
Frequently asked questions
What is AML compliance?
AML compliance means meeting your obligations under the AML/CTF Act — having an AML/CTF program, conducting customer due diligence, and reporting to AUSTRAC.
What are AML checks?
AML checks include verifying customer identity (KYC), screening for PEPs and sanctions, identifying beneficial owners, and monitoring for suspicious activity.
Who needs to be AML compliant?
All reporting entities providing designated services with a geographical link to Australia. From July 2026, this expands to include Tranche 2 entities.
Related resources
Simplify your AML compliance
ARCaml handles CDD so you stay compliant with AUSTRAC requirements.