Australia's anti-money laundering and counter-terrorism financing (AML/CTF) regime has been significantly expanded, with tens of thousands of additional businesses now subject to AUSTRAC's regulatory requirements from 1 July.
The reforms extend AML/CTF obligations to a range of sectors, including real estate agents, lawyers, conveyancers, accountants and dealers in precious metals and stones.
According to AUSTRAC, these industries have been identified as areas vulnerable to exploitation by organised crime seeking to conceal or move illicit funds through property transactions and complex company or trust structures.
AUSTRAC CEO Brendan Thomas said the reforms are designed to address longstanding gaps in Australia's financial crime framework by increasing oversight of high-risk transactions.
He noted that criminals frequently target real estate and professional services to disguise the origin and ownership of illicit funds, adding that bringing these sectors into the AML regime will help detect suspicious activity earlier and strengthen Australia's overall financial crime defences.
Minister for Home Affairs Tony Burke described the changes as a new phase in Australia's response to organised crime, stating that more than AU$60bn in illicit profits are estimated to be laundered through the country's economy each year.
Businesses providing designated services are now required to have AML/CTF programmes, appoint an AML compliance officer, train staff and be prepared to meet reporting obligations.
While the laws are already in force, affected businesses have until 29 July to enrol with AUSTRAC. Registration requirements apply only to certain higher-risk services, including remittance and virtual asset providers.
AUSTRAC said it has introduced a range of support measures to assist businesses with the transition, including guidance materials, webinars, digital enrolment services and extended contact centre hours. The regulator warned that businesses failing to meet their legal obligations could face enforcement action.
The expansion follows a series of AML initiatives by AUSTRAC during 2026. Earlier this year, the regulator reaffirmed that gambling businesses remain subject to Australia's AML/CTF framework and reminded operators of their ongoing compliance obligations.
AUSTRAC has also increased scrutiny of the gambling sector, launching an enforcement investigation into Tabcorp while CEO Brendan Thomas warned of systemic AML weaknesses across parts of the industry during his keynote address at the Regulating the Game conference.
AUSTRAC estimates that more than AU$60bn in illicit profits are laundered through the Australian economy each year
