AML Simple's readiness quiz: what it tells you and why to run it first
The AUSTRAC Readiness Check at /check takes around five minutes and tells you exactly where your agency stands before July 2026. Here's what it assesses and what to do with the results.
AML Simple's readiness quiz: what it tells you and why to run it first
Most real estate agency principals are in the same position right now: they know July 2026 is coming, they know they need to comply with AUSTRAC's Tranche 2 requirements, and they have no idea where to actually start.
If that's you, start with the AUSTRAC Readiness Check at /check. It takes around five minutes, costs nothing, and tells you precisely where your agency stands today — which gaps need closing, which boxes are already ticked, and what to do first.
That's the short answer. Here's the longer one.
What the readiness quiz actually assesses
The AUSTRAC Readiness Check works through the core obligations your agency faces under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. It asks questions across five areas:
1. Enrolment status Have you enrolled your agency with AUSTRAC as a reporting entity? The enrolment deadline is 29 July 2026. The quiz captures whether this is done and flags it as a priority if not.
2. AML/CTF program Does your agency have a written AML/CTF program? The quiz asks whether you have one in place, whether it's been reviewed, and whether staff have been trained. Many agencies at this stage have neither a program nor a plan — the quiz surfaces that clearly.
3. Compliance officer appointment The Act requires every reporting entity to appoint a compliance officer and notify AUSTRAC of who that is. The quiz checks whether your agency has done this.
4. Customer due diligence (CDD) readiness This is where most agencies find the most work to do. Customer due diligence — verifying the identity of your buyers and sellers before acting as their agent — is one of the most operationally significant obligations under Tranche 2. The quiz asks whether you have a CDD process in place and whether you have the tools to run it.
5. Record keeping The Act requires you to keep records of CDD and transactions for seven years. The quiz checks whether you have a system for this or whether you're still planning to use paper files or spreadsheets.
What the results tell you
At the end of the quiz, you get a summary of your readiness across these five areas — a clear picture of what's done, what's in progress, and what hasn't been started.
For most agencies, the readiness check confirms what they already suspected: enrolment may be sorted, but the program, CDD process, and record keeping are gaps. Seeing it laid out plainly is useful. It removes ambiguity about what needs to happen before 1 July.
The results also show you where AML Simple can help close those gaps. If your program is missing, the AML/CTF Program Generator builds it in around 15 minutes — question by question, aligned with AUSTRAC's Program Starter Kit structure. If CDD is the gap, the platform's identity verification workflow lets you send a digital verification link to clients and handles the record keeping automatically.
What happens after the quiz
The readiness check is a starting point, not the finish line. But it's the right starting point — it replaces vague anxiety about "getting compliant" with a concrete list of what's left to do.
Once you know where your gaps are, the natural next step is to close them in order:
- Enrol with AUSTRAC if you haven't already (deadline: 29 July 2026)
- Build your AML/CTF program using the Program Generator
- Set up your CDD workflow so you can verify clients before acting as their agent
- Train your staff — the platform includes a built-in training module for this
- Start record keeping from the first client you take on after your program is in place
If you want to understand how each of those steps works in practice, the step-by-step CDD walkthrough is a good next read after you've seen your results.
Why do this now
The readiness check exists because "I need to comply" and "I know what I need to do" are different things. Many agencies have been meaning to start for months and haven't, because compliance feels large and undefined.
Five minutes with the quiz changes that. You come out with a list, not a vague intention.
Run the AUSTRAC Readiness Check →
This post is general information only. AML Simple is a compliance workflow tool — not a legal or AML/CTF advice service. For advice specific to your agency, consult a qualified AML/CTF compliance professional.