PEXA Clear AML and where it sits next to settlement

PEXA Clear AML, in this article, means the product described at pexaclear.com.au. Checked on 2 October 2026, PEXA Clear presents an AML/CTF workflow for Australian real estate agents, buyer’s agents, lawyers, and conveyancers. How it works describes identity and beneficial-owner checks, screening, a risk rating on the client and the property, prompts for what to do next, monitoring through to settlement, and a record for reporting. This is general information about that public description. It is not legal advice, and it is not their product. It is also not ClearAML, which is a different vendor.

Settlement and the AML file are different jobs

Electronic settlement moves title and money. Customer due diligence asks who the customers of the designated service are, and whether the firm can provide that service. A workspace that settles the matter does not answer the second question. PEXA Clear is described as running in the transaction and continuing to settlement. That is a place in the timeline. It is not a statement that settlement software is the AML/CTF program.

Their obligations page lists the firm’s own work: know the designated services, name a compliance officer, register, establish a program, train staff, do customer due diligence, monitor, and keep records. The product is offered as support for that list. Support is not a transfer of the duty. Who must do the check on a listing is AML for real estate agents. The writing the program still needs is what goes in the AML/CTF program.

What a settlement-side tool does not finish

• It does not decide that this retainer is a designated service. A file that never becomes a regulated service is a different question. Map it on /tranche-2.
• It does not approve your AML/CTF program. A workflow beside settlement can store steps. The senior manager still approves the document that describes this firm.
• It does not become the reporting entity. AUSTRAC regulates the firm that provides the designated service. Software can prepare a record. It does not lodge in place of the partner or the compliance officer.
• It does not replace customer due diligence with a settlement milestone. Identity can be one input. The standard is customer due diligence requirements.
• It does not set FreeAML’s price, and this page does not set PEXA Clear’s. Their pricing page describes a per-transaction charge and says there is no subscription. Confirm the live figure there before you budget.

Read the product pages for the current scope. Labels and inclusions move. This article is the seat at the table: next to settlement, not instead of the program, and not instead of the customer file.

Where FreeAML fits

Keep the settlement tool you already use. When the program says a customer must be checked, the FreeAML firm suite is A$0 and verification is client-pays by email. Current amounts are on FreeAML pricing. The product collects that evidence. It does not settle the property, it does not replace PEXA Clear, and it does not enrol the firm. Use it beside the settlement workspace, not inside it.

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