Caltury

Free self-assessment

Tranche 2 readiness, in 12 questions.

Honest answers, scored against the actual obligations that commence 1 July 2026 (6 days). The result is a numbered score, a band, and a specific list of gaps to close. Free. No signup. Shareable URL.

General guidance · Not legal advice · AUSTRAC has not reviewed this rubric

Q01AML/CTF Amendment Act 2024

What kind of practice do you run?

Tranche 2 reforms add real estate, conveyancing, accounting, law, TCSPs and precious metals dealers to AUSTRAC's reporting-entity perimeter from 1 July 2026.

Q02AML/CTF Act s.51B

Have you enrolled with AUSTRAC?

Every reporting entity must enrol with AUSTRAC within 28 days of providing a designated service. The first 1 July tranche of new reporting entities can enrol from 31 March 2026.

Q03AML/CTF Act Part 7, AML/CTF Rules ch.8

Do you have a documented AML/CTF Program (Part A and Part B)?

Part A is the policies and procedures that prevent and detect ML/TF. Part B is the customer identification procedures. Both must be approved by a senior officer of the practice.

Q04AML/CTF Rules ch.8.1.4

Do you have a documented ML/TF risk assessment?

The risk assessment identifies the money-laundering and terrorism-financing risks your practice faces. It's the source document the Program references.

Q05AML/CTF Act Part 2 Div 4, Rules ch.4

Do you have a process to verify the identity of every customer?

Customer identification (KYC) is mandatory before you provide a designated service. The minimum verification standard depends on customer risk rating.

Q06AML/CTF Rules ch.4.12

Can you identify and verify beneficial owners for company / trust / partnership customers?

For non-individual customers you must identify and verify each beneficial owner (25%+ ownership or control). Trusts need trustee, settlor, and named beneficiaries / class of beneficiaries. Partnerships need every partner.

Q07Autonomous Sanctions Act 2011 + AML/CTF Rules ch.15

Do you screen customers against sanctions and PEP lists?

Customers must be screened against Australia's consolidated sanctions list (DFAT) and globally relevant PEP and watch lists. Screening must be ongoing, not one-time.

Q08AML/CTF Act s.41

Do you know how to identify and lodge a Suspicious Matter Report?

SMRs must be lodged within 3 business days of forming the suspicion (24 hours for terrorism financing). The narrative has a specific 5-section format AUSTRAC publishes.

Q09AML/CTF Act s.43

Do you know how to identify and lodge a Threshold Transaction Report?

Cash transactions of A$10,000 or more (physical currency or e-currency) trigger a TTR. Due within 10 business days.

Q10AML/CTF Act s.84, Rules ch.8.2

Have all staff who provide designated services completed AML/CTF training?

Training is obligation 9. Staff must be trained on their obligations before they act on them, and training must be ongoing.

Q11AML/CTF Rules ch.11

Do you have a process to keep records for 7 years?

Records of KYC, transactions, screening, reports, training, and the program itself must be kept for 7 years from the later of creation or the end of the customer relationship.

Q12AML/CTF Rules ch.8.6

Do you have an independent reviewer arranged for your annual review?

The AML/CTF Program must be independently reviewed at least every 13 months (Rule 8.6). The reviewer cannot be the same person who wrote it.

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