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Press Release

Grant Thornton supports AUSTRAC to develop the new AML/CTF Starter Kits

Grant Thornton worked with AUSTRAC (the federal Anti-Money Laundering regulator) to support the development of their new AML/CTF Starter Kits released this week, designed specifically for Tranche 2 sectors including lawyers, real estate professionals, accountants, and conveyancers.

Grant Thornton brought its deep and practical Tranche 2 experience to assist the development of the AUSTRAC AML/CTF Starter Kits which provide simple guidance and ready‑to‑use tools to help the soon to be regulated professions understand and meet their anti‑money laundering and counter‑terrorism financing obligations.

This AUSTRAC initiative represents a world‑first approach to AML/CTF implementation, positioning Australia as a global leader in supporting professional services to transition into the AML/CTF regulatory framework and achieving AML/CTF compliance.

Working closely with AUSTRAC, Grant Thornton supported industry engagement to understand the real‑world operating models, risk profiles and compliance challenges faced by lawyers, real estate professionals, accountants, and conveyancers.

Neil Jeans, Partner – Risk Consulting at Grant Thornton Australia said, “Rather than only high‑level guidance, AUSTRAC’s Starter Kits are designed to be immediately actionable, reflecting how lawyers, real estate agents, accountants, and conveyancers operate. Developed with input from industry and significantly supported by Grant Thornton, the Kits demonstrate a new model of regulator and industry collaboration focused on prevention, clarity, and practical support.

“This approach helped ensure the Starter Kits are grounded in how these businesses actually work, translating regulatory requirements into clear, proportionate, and practical steps that helped shape the Starter Kits into something that enables T2 businesses to achieve effective AML/CTF compliance without unnecessary complexity, cost, or administrative burden,” continued Neil Jeans.

The Starter Kits aim to lower the burden of designing compliance systems from scratch or relying on expensive external advice, helping businesses embed effective AML/CTF practices more efficiently, freeing them up to focus on serving clients, while protecting the Australian economy from money laundering and serious financial crime. By providing a structured approach and step‑by‑step guidance tailored to each profession, the AML/CTF Starter Kits are expected to significantly reduce the time, effort, and cost of compliance for more than 90,000 Australian businesses.

More information and downloadable sector Starter Kits available here online

Visit Grant Thornton’s Anti-Money Laundering hub for more information on how these changes may affect your business.

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