DNFBP — Designated Non-Financial Business or Profession — is the FATF term for the non-financial sectors that international AML standards bring into the regime alongside banks and gambling operators. It covers lawyers, notaries, accountants, real estate agents, dealers in precious metals and stones, and trust and company service providers. Australia is one of the last major jurisdictions to formally bring the DNFBP sectors into its AML regime — that's what the Tranche 2 reforms do, commencing 1 July 2026. Once you're a DNFBP reporting entity, you have the same enrolment, CDD, monitoring, reporting and record-keeping obligations as a bank, calibrated to the risk profile of your sector and services.
What DNFBP means in practice from 1 July 2026
If you're a lawyer, accountant, conveyancer, bookkeeper, real estate agent or bullion dealer, you are a DNFBP under Tranche 2. The reform is not optional and not delayed: 1 July 2026 is the commencement date, and AUSTRAC has signalled active early supervision of the new sectors. Treating it as a future problem is the single most expensive mistake firms are making.
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