AML/CTF Tranche 2 compliance officer Current

Appointing an AML/CTF compliance officer

What the role generally covers for firms newly regulated under Tranche 2.

Firms with AML/CTF obligations generally need someone accountable for the day-to-day operation of their AML/CTF program. This guide explains what that role generally involves. Exact requirements are set out in AUSTRAC's own rules and guidance. It is general information, not legal or compliance advice.

Action plan

1 Assign an AML/CTF compliance officer Appoint within 28 days of providing designated services; notify separately within 14 days after appointment. Newly regulated entities may instead use the later of 14 days after enrolment or 29 July 2026; confirm which rule applies.

Your firm's AML/CTF program generally needs a named person responsible for its day-to-day operation, acting as the point of contact for AML/CTF matters inside the firm. AUSTRAC says the officer must be appointed within 28 days of providing designated services. Notification to AUSTRAC is a separate obligation, generally due within 14 days after appointment. For newly regulated entities the transitional notification date may instead be the later of 14 days after enrolment or 29 July 2026; confirm which rule applies. AUSTRAC's guidance sets the eligibility requirements. Vertical Flows does not decide who this should be or certify the appointment.

  • Appoint an eligible officer within 28 days of providing designated services
  • Notify AUSTRAC separately within 14 days after appointment, subject to the applicable transitional rule
  • Confirm the appointment against AUSTRAC's current guidance
  • Document the appointment and the date it took effect

Done when: Your firm has a named, documented AML/CTF compliance officer

AUSTRAC: compliance officer requirements
2 Set out what the role covers Document the day-to-day AML/CTF responsibilities the role is accountable for.

A typical AML/CTF compliance officer role oversees the firm's AML/CTF program, acts as the internal escalation point for unusual or higher-risk matters, and helps keep the program current. Vertical Flows can structure the escalation and review workflow the role relies on. It does not perform the role itself.

  • Document what the role is responsible for day to day
  • Set out how staff should escalate AML/CTF concerns to this person
  • Review and update the role's responsibilities as your firm's program matures

Done when: The compliance officer role's responsibilities are documented and known to staff

See how structured intake and review works