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Guide
AML requirements for jewellers (2026)
Last updated 8 September 2026
From 1 July 2026, dealers in precious metals, stones and products are regulated under AUSTRAC Tranche 2 when they take physical currency of A$10,000 or more for a transaction. You must enrol, build a program, verify customers, report and keep records.
The cash threshold
Taking physical currency of A$10,000 or more on a transaction brings it into scope and can trigger a threshold transaction report, which is due within 10 business days.
What a jeweller must do
- Enrol with AUSTRAC by your deadline.
- Adopt AUSTRAC's jeweller starter kit and complete your risk assessment.
- Verify customers at or above the threshold, report threshold and suspicious transactions, train staff, and keep records for seven years.
Senly AML runs AUSTRAC's jeweller starter kit, with a streamlined path for low and medium risk individual customers paying with cash.
Questions, answered.
- Are jewellers regulated under Tranche 2?
- Yes, when they take physical currency of A$10,000 or more for a transaction in precious metals, stones or products.
- What is the cash threshold?
- A transaction involving A$10,000 or more in physical currency brings it into scope and can trigger a threshold transaction report within 10 business days.
- What if a customer pays by card or transfer?
- The threshold is about physical currency. Your program still covers your obligations, but the cash threshold reporting applies to cash transactions.
This guide is general information, not legal advice. The official source is austrac.gov.au.