11/06/2026
The OAIC has released a range of tools to help your organisation on its journey as part of the AML/CTF reforms.
Here are 5 privacy steps Tranche 2 reporting entities should take before 1 July 2026:
• understand your AML/CTF privacy obligations
• review and update your privacy policy
• check how personal information is collected and stored
• put a data breach response plan in place
• only retain personal information for as long as needed.
If your business provides a new designated service, including real estate professionals, lawyers, accountants, conveyancers, dealers in precious metals or stones, or a trust and company service provider, now is the time to prepare.
Find out more through our guidance: https://www.oaic.gov.au/privacy/privacy-guidance-for-organisations-and-government-agencies/organisations/privacy-guidance-for-reporting-entities-under-the-anti-money-laundering-and-counter-terrorism-financing-act