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AML/CTFCommonwealthMinimum retention

AML/CTF program records

How long should Australian businesses keep aML/CTF program records, and when does the clock start?

Keep for7 years
Clock startsThe record is no longer relevant
Applies toAML/CTF reporting entities

General information, not legal advice or permission to destroy a record. Coverage may be incomplete or out of date. Check the official text, other applicable obligations and any investigations, disputes or legal holds before disposal. Get advice for your situation. Terms of use.

Under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, AML/CTF reporting entities must keep aML/CTF program records for at least 7 years. Clock starts: the record is no longer relevant.

Records needed to show compliance with the AML/CTF program obligations (Part 1A).

This is the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 requirement. The same records can also fall under other laws. See other terms that apply.

The terms

s 116(3)Anti-Money Laundering and Counter-Terrorism Financing Act 2006
7 years
beginning at the time the record was made; and ending 7 years after the record is no longer relevant to the reporting entity's compliance with its obligations under Part 1A

Conditions and exceptions Caution

None stated in the provisions.

The law

Anti-Money Laundering and Counter-Terrorism Financing Act 2006, s 116(3) · Retention of records relating to Part 1AOfficial text ↗
A person who is or was a reporting entity must retain the records referred to in subsection (1) throughout the period: (a) beginning at the time the record was made; and (b) ending 7 years after the record is no longer relevant to the reporting entity's compliance with its obligations under Part 1A.
Text as at 1 July 2026
Anti-Money Laundering and Counter-Terrorism Financing Act 2006s 116(3) · Federal Register of Legislation
Legislation ↗
AUSTRACOfficial guidance
Guidance ↗

Other terms that apply to these records

This page covers aml/ctf program records on their own. The same file is often caught by other laws as well, with different periods and start dates. See why a legal term is not a schedule.

2 records. 2 sets of rules. They don't agree.

One business file can hold all of these at once.

AML/CTF program records7yAnti-Money Laundering and Counter-Terrorism Financing Act 2006, s 116(3) · the record is no longer relevant
Customer due diligence (KYC) records7yAnti-Money Laundering and Counter-Terrorism Financing Act 2006, s 111(2), s 114(1), s 35F(2), s 35F(3) · the business relationship ends

Now do that for every record your organisation holds, and redo it when the law changes. ScheduleOne has done that work, and keeps it current.

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