Australia's leading AML compliance solution for Tranche 2 entities.
From 1 July 2026, accountants will be subject to AML/CTF obligations when providing certain services. As trusted advisers with insight into business structures and financial flows, accountants are key gatekeepers against financial crime.
AML Shield provides practical solutions designed specifically for accounting practices, helping you integrate compliance into your existing workflows.
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Obligations apply when providing these services:
Key compliance requirements for your practice:
Accountants may need AML software if they provide designated services under Tranche 2, especially where manual spreadsheets and document folders will not reliably manage customer due diligence, risk assessments, training, and seven-year records. AML Shield helps accounting practices turn these obligations into repeatable workflows without claiming to replace professional judgement or legal advice.
Accounting obligations are triggered when the practice provides designated professional services, such as assisting with real estate or body corporate transactions, managing client property during transactions, helping organise equity or debt financing, selling shelf companies, creating or restructuring companies or trusts, arranging nominee roles, or providing registered office or principal-place-of-business addresses. For a profession-specific overview, read what accountants need to know about AUSTRAC Tranche 2.
Small accounting practices may be able to use AUSTRAC starter kits if they satisfy the suitability criteria, including having 15 or fewer personnel, providing only covered professional services, avoiding regular high-risk clients, and tailoring the complete starter-kit package to their own services and risk profile. AML Shield is designed around starter-kit aligned workflows, and our pricing is built for smaller Tranche 2 practices that need a practical path rather than enterprise compliance overhead.
The fastest preparation path is to confirm whether you are regulated, prepare to enrol with AUSTRAC, identify your designated services, complete a business risk assessment, appoint a compliance owner, set up CDD and beneficial-owner checks, train relevant staff, and keep the records needed to show the program is being used before 1 July 2026. The AML Shield training pathway supports staff awareness while the platform keeps the program steps and evidence in one place.
AML Shield helps accountants customize AUSTRAC starter kits by guiding the practice through service selection, risk assessment, policy setup, client onboarding, screening, training records, and audit trails. If you want to check fit for your practice, contact AML Shield for a walkthrough.
Contact us to get started on your accounting compliance program.
Get the free Tranche 2 briefing
A 12-page PDF from Nathan Lynch.