AML Checks for Accountants in Australia (Tranche 2)

Which work usually brings CDD into the file

Not every tax return is the same as forming a company or administering a trust. Tranche 2 is about designated services. Practices on this site typically plan CDD around trust dealings, buying or selling business entities, and acting as a formation agent. Confirm your own list against AUSTRAC guidance and /tranche-2. A longer compliance checklist is in Tranche 2 for accountants.

Workflow for a practice

1. The engagement letter says when an AML check happens and who pays.
2. You send a KYC link for a person or a KYB link for a company from /aml-check.
3. You review screening and write a risk rating. Use the template.
4. You file the evidence in the practice-management system, not in one partner's inbox.
5. You escalate if ownership is opaque or the source of funds does not match the engagement.

KYC versus KYB in an accounting firm

A company client almost always needs more than the director's driver licence. Identify the beneficial owners your program says matter, and verify them too.

What the software does not replace

• AUSTRAC enrolment
• Your written AML/CTF program — see /compliance-docs
• The firm-wide risk assessment at /risk-assessment
• Staff training
• Suspicious matter and threshold reporting when the rules require it

Pricing and the client-pays option are on /pricing. If you are comparing subscription seats, start with Best AML software Australia.

Frequently Asked Questions