Enrol with AUSTRAC
Register your business and meet enrolment requirements.
PEP
Pep And Sanctions Screening
PEP and sanctions screening - Learn about AUSTRAC requirements and AML/CTF obligations for reporting entities.
AUSTRAC Requirements
According to AUSTRAC guidance, pep and sanctions screening is an important requirement for reporting entities. Foreign PEPs require mandatory enhanced customer due diligence including source of funds verification.
From 1 July 2026, AML/CTF obligations apply to Tranche 2 entities including reporting entities.
Key Requirements
AML/CTF Program
Develop and maintain a tailored compliance program.
Customer Due Diligence
Identify and verify your customers before providing services.
Reporting Obligations
Submit required reports including SMRs and TTRs.
Frequently asked questions
What are the key obligations?
Key obligations include enrolling with AUSTRAC, developing an AML/CTF program, conducting customer due diligence, and meeting reporting requirements.
When do obligations start?
For Tranche 2 entities (including reporting entities), obligations commence 1 July 2026. Enrolment opens 31 March 2026.
What records must I keep?
You must maintain accurate records of your AML/CTF program and compliance activities. Most records must be retained for 7 years.
Related resources
Simplify Your Compliance
ARCaml helps reporting entities meet AUSTRAC requirements efficiently.