Best AML Software in Australia (2026): Tranche 2 Comparison

Tranche 2 expands who must enrol with AUSTRAC and run AML controls. If you are a real estate agent, accountant, lawyer, conveyancer, jeweller, or motor dealer, you need software that is affordable at low-to-medium volume, fast for clients, and easy to file as evidence for your program. See the obligations overview on /tranche-2.

Want every option on one page? See the side-by-side comparison, or the shorter guide to AML software in Australia.

Short comparison: AML software in Australia

Buyers comparing AML software, including the best AML software in Australia, usually want the price, who it is for, the regime, and whether there is a subscription. FreeAML is the pay-per-check row. EasyAML, TrustSoft, First AML, and Australia Post VOI stay in the tables already on this page. Confirm their prices on their own sites.

Live FreeAML amounts stay on /pricing. A check is the CDD evidence for the file your firm keeps.

Quick verdict (2026)

Pricing comparison (illustrative)

Assumptions below are a planning sketch for 10 KYC and 2 KYB checks a month. Always confirm live pricing on each vendor's site before you buy. FreeAML list prices are published on /pricing.

Client-pays angle: With FreeAML you can pass the check cost to your client (your out-of-pocket can be $0) or add a service fee so compliance becomes a disbursement you disclose, rather than a silent overhead.

What good AML software must do for Tranche 2

1. Identity verification for individuals (KYC) and entities (KYB) where your program requires it.
2. Screening against relevant lists as part of CDD.
3. Evidence you can store with the customer file.
4. Speed — clients complete the check from the link you send.
5. Pricing that does not punish quiet months.

Banks need transaction-monitoring platforms. Most Tranche 2 professional-services firms need CDD tooling, not a bank stack. A deeper cost walkthrough is in How much AML compliance costs in Australia.

When the customer is a company or a trust, the software still has to support who owns or controls it: what a beneficial owner is in Australia, the beneficial owner of a company, the beneficial owner of a trust, and UBO verification.

FreeAML — best for pay-as-you-go Tranche 2 CDD

FreeAML is built for Australian businesses that need checks without enterprise onboarding.

• No monthly platform fee
• Start a check without a long procurement cycle
• Remote flow clients can finish from the link (about a minute is typical)
• Exportable outcomes for your records
• Client-pays option

Best for: agents, accountants, lawyers, and other designated services with uneven monthly volume. Start at /aml-check.

EasyAML — subscription alternative

EasyAML is a known Australian brand with subscription plans plus per-check charges. It can suit firms that prefer seats, dashboards, and predictable SaaS billing — but total cost often exceeds pay-as-you-go at low-to-medium volume. See FreeAML vs EasyAML and the EasyAML alternative guide.

TrustSoft, First AML, and Australia Post VOI

• TrustSoft: Consider it if you already need trust accounting. Do not buy a suite only for AML.
• First AML: Enterprise onboarding and volume norms are a different buying motion from pay-as-you-go CDD, which you can run at any size up to enterprise. See First AML alternative.
• Australia Post VOI: Useful when in-person verification is mandatory. Slow and relatively expensive for routine remote CDD.

Feature checklist

Which should you choose?

• Variable volume, cost-sensitive, Tranche 2 CDD → FreeAML
• Must have subscription procurement → EasyAML
• Law firm that needs trust accounting anyway → evaluate TrustSoft
• Bank or large enterprise → First AML class tools

If you only need identity and screening evidence — not a conveyancing search bundle — also compare InfoTrack AML pricing alternatives.

Further published-price notes: easyAML reviews, First AML reviews, easyAML vs alternatives, FreeAML vs TrustSoft, RealAML pricing, and KYC software in Australia.

Frequently Asked Questions