Compliance · Australia

AML/CTF expansion: investigate AI-assisted identity and risk checks

Published on NORMIX: 2026-10-24 · NORMIX

AML/CTF expansion: investigate AI-assisted identity and risk checks. Expanded designated-service obligations apply from 1 July 2026. Check coverage for each AI use case.

The expanded regime covers specified services provided by real estate agents, lawyers, conveyancers, accountants and other newly regulated businesses. AI identity checks or risk scores do not transfer the reporting entity’s responsibilities to its supplier.

Use-case investigation: establish designated-service coverage, compliance ownership, customer and beneficial-owner verification, screening, suspicious-matter escalation, staff training and record retention. Keep supplier error handling and human escalation evidence. Applicability depends on the actual service, not merely an industry label.