Two-thirds of Australian businesses believe they're AML (anti money laundering) compliant. New research shows only one in three actually are.

Visibl

• 88.5% were aware the reforms applied to their business before taking the survey.
• 91.8% have appointed an AML Compliance Officer.
• 82.0% have completed a formal AML
• (anti money laundering) Risk Assessment.
• 65.6% are confident they would pass an AUSTRAC compliance review.
• 34.4% are fully “ready” once every governance and practice measure is checked together — a
• 31-point gap against the 65.6% who feel confident.

• 75.4% believe their identity verification (VOI) checks alone satisfy their AML obligations. They are wrong. 
• 56.5% of that group are not completing at least one other legally required check (sanctions/PEP screening, beneficial ownership verification, or full KYC/KYB) — equal to 42.6% of all businesses surveyed.

• 41% of all businesses surveyed cite time and/or cost as their single biggest compliance challenge.
• 3.66 / 4.22 mean self-rated “overall prepared” score (of 5) for businesses under 20 staff vs. businesses with 20+ staff
• 3.58 / 4.07 confidence score (of 5) of passing an AUSTRAC review, under-20-staff vs. 20+-staff businesses.

• #1 Risk Assessment was ranked the most concerning AML/CTF task by respondents, ahead of customer due diligence, monitoring, record keeping, reporting and training
• 18% of had still not completed a risk assessment a month after the 1 July 2026 commencement date

• 5x a single property transaction can require a client to verify their identity separately with a bank, mortgage broker, real estate agent, solicitor and accountant.
• Real estate, legal and accounting respondents independently and without prompting called for the same fix: a portable, government-backed digital ID.

MEDIA RELEASE

14 SEPTEMBER 2026 — For immediate release

Two-thirds of Australian businesses believe they're AML compliant. New research shows only one in three actually are.

Survey reveals a 31-point gap between confidence and practice a month into Australia's new anti-money laundering laws; with 42% of businesses unknowingly non-compliant.

SYDNEY, [14 September 2026] — New research commissioned by Australian AML compliance specialist, Visibl has revealed a significant and measurable gap between how ready Australian accounting, legal and real estate businesses believe they are for the country's new anti-money laundering (AML) obligations, and how ready they actually are in practice.

Australia's AML Readiness Report, based on a survey of over 60 businesses and in-depth interviews with three industry practitioners, found that while 65.6% of businesses are confident they would pass an AUSTRAC compliance review, only 34.4% are genuinely “ready” once both governance; policies, risk assessments, training and day-to-day practice are assessed together. That's a 31-point gap between feeling ready and being ready.

The research also uncovered a specific and previously unquantified compliance blind spot: 75.4% of businesses believe their verification of identity (VOI) checks alone satisfy their AML obligations. They are wrong. In reality, more than half of that group are not completing at least one of the other customer checks the law requires to risk rate customers, including screening for sanctions and politically exposed persons (PEPs), or verifying the beneficial owners of companies and trusts. Across the full sample, that's 42.6% of all businesses surveyed, more than one in four operating on a false sense of compliance.

The findings arrive as tens of thousands of real estate agents, lawyers, accountants and other “gatekeeper” professionals come under AML/CTF obligations for the first time, under reforms known as Tranche 2 that took effect 1 July 2026 (published estimates of the number of newly regulated entities range from approximately 80,000 to 100,000). AUSTRAC's 2024 national risk assessment found the real estate sector poses a high money laundering risk, with legal and accounting services also assessed as high risk.

The report also found small businesses are bearing the brunt of Australia's new anti-money laundering laws. Firms with fewer than 20 staff report meaningfully lower confidence and readiness than larger firms, and 41% of all businesses surveyed cited time or cost as their single biggest compliance challenge.

Separately, businesses across real estate, legal and accounting sectors, without being prompted, independently called for the same fix: a portable, government-backed digital ID that would let a client's identity be verified once and reused across a transaction. One property transaction can currently require a client to verify their identity with a bank, mortgage broker, real estate agent, solicitor and accountant up to five times over.

“Twelve months from now, when the first annual AML/CTF compliance reports fall due, the industry will have a much clearer picture of how ready it really is,” the report concludes. “Based on this research, the answer will hinge less on whether businesses want to comply, and more on whether they've had the practical support to translate a black-and-white law into genuinely risk-based, everyday practice.”

The full Australia's AML Readiness Report 2026 is available at https://visibl.com.au/Australia-AML-Readiness-Report

Visibl is an Australian AML compliance platform helping real estate agencies, law firms, accountants and other regulated businesses prepare for Australia's Tranche 2 Anti-Money Laundering and Counter-Terrorism Financing reforms. Combining technology with certified AML specialists, Visibl provides compliance programs, customer verification, risk assessment, training and audit-ready reporting designed specifically for small and medium-sized businesses.

Media contact

Lucy Allen · Visibl · [email protected]

0435758509