Australia's Tranche 2 AML/CTF obligations took effect on July 1, 2026, bringing roughly 80,000 additional businesses (including real estate, legal, accounting, and other designated services) into scope of AUSTRAC's AML/CTF regime. Separately, banking, telecom, and digital platform providers must join AFCA and prepare for Scams Prevention Framework detection obligations effective March 31, 2027, amid $2.18 billion in reported scam losses for 2025.
Australia will prohibit surcharges on debit card payments starting 1 October 2026, with credit card surcharges capped at the cost of acceptance. Businesses must update payment systems and compliance practices before the deadline.
Australia's AML/CTF Amendment Act 2024 and 2025 Rules expand obligations to Tranche 2 entities (lawyers, accountants, real estate professionals) with key deadlines in 2026. Significant penalties for non-compliance underscore the need for robust AML software and compliance updates.
Australia's AML/CTF Amendment Act 2024 and 2025 Rules introduce major reforms, with existing reporting entities required to comply by March 31, 2026, and Tranche 2 entities (lawyers, accountants, real estate professionals) from July 1, 2026. The reforms expand the scope to approximately 90,000 entities and introduce new requirements such as fit-and-proper officer obligations and revised risk-based CDD.
Australia has released a consultation draft for the Privacy Amendment (Personal Data Protection) Bill 2026, proposing significant reforms including a new fair and reasonable test, 72-hour breach notification, and expanded sensitive data definitions. Businesses must assess impacts and provide feedback by September 2026.
Australia is enforcing a strict regulatory deadline on October 1 for crypto businesses to obtain licenses and comply with AML/CTF obligations. Non-compliant firms face civil or criminal penalties under financial services law.
The Fair Work Commission has proposed a formal process for employees to request work-from-home arrangements under the Clerks Award. Employers must prepare to handle written requests and document agreements, with submissions open until September 17, 2026.
ASIC's no-action relief for digital asset firms expires on 30 September 2026. Businesses must apply for or vary an AFS licence before this date to avoid breaching financial services law.
Australia's financial regulators, ASIC and APRA, have issued a joint warning urging financial market entities to move from AI risk awareness to concrete action. They emphasize integrating AI risk management into governance frameworks, treating AI as a board-level priority, and preparing for evolving regulatory expectations and potential enforcement.
Australia is seeking public feedback on proposed modern slavery regulations, which may tighten corporate human rights due diligence requirements. Companies operating in Australia should monitor these developments and prepare for potential new compliance obligations.
The Australian Treasury is consulting on whether to drop the 'reasonable assurance' requirement for corporate climate disclosures after the first year of implementation, potentially moving to 'limited assurance'. This would reduce compliance burden but may affect credibility of ESG reporting.
AUSTRAC suspended Cryptolink Pty Ltd's registration for three months, taking 96 crypto ATMs offline in Australia due to failure to submit threshold transaction reports and respond to an information request. This enforcement action signals heightened scrutiny of crypto ATM operators and follows prior penalties and new cash limits.
Australian regulators initiated legal action against Telegram for failing to remove terror-related content, facing a potential fine of up to $38 million. This enforcement action signals increased scrutiny on content moderation compliance under the Online Safety Act.
Starting July 1, 2026, Australian employers must pay Superannuation Guarantee contributions within 7 business days of each payday, replacing quarterly payments. The reform introduces a new Qualifying Earnings base and an annual Maximum Contribution Base, with stricter penalties for non-compliance.
Australia requires employers to pay superannuation guarantee contributions on a payday basis from July 1, 2026, replacing the quarterly model. This change impacts payroll systems and cash flow for all employers with Australian employees.
Australia plans to introduce criminal liability for companies that fail to address modern slavery in their supply chains. This move, welcomed by social investors, will increase accountability and align with global trends like the EU CSDDD.
AUSTRAC's Tranche 2 reforms extend AML/CTF obligations to lawyers, accountants, and other professionals. The ComplyAdvantage Starter Plan is a vendor tool to help meet these requirements, but the underlying regulatory change is the new mandate effective July 1, 2026.
Australia's Tranche 2 AML/CTF obligations take effect July 1, 2026, requiring real estate agents to conduct customer due diligence, screen for sanctions/PEPs/adverse media, and maintain compliance with AUSTRAC. This is a new regulatory mandate for the real estate sector.
Tranche 2 of AUSTRAC's AML/CTF reforms takes effect July 1, 2026, expanding obligations to new sectors such as real estate, legal, and accounting. Businesses must implement customer screening, ongoing monitoring, and reporting to comply.
Tranche 2 of Australia's AML/CTF reforms takes effect July 1, 2026, requiring enhanced customer due diligence (CDD) for accountants and auditors. The ComplyAdvantage Starter Plan is a vendor product to help meet these obligations, but the underlying regulatory change is the new mandate.