The customer due diligence steps people mean by 'the four requirements'
People who ask what are the 4 customer due diligence requirements usually mean four jobs: identify the customer, verify that identity, identify who owns or controls, and keep the file under ongoing due diligence. AUSTRAC does not publish a list by that slogan.
Quick answer
Treat the four as a memory aid, not as a statute. Your program sets the real steps, and it can include screening and enhanced measures the slogan skips. If you only tick four boxes from a blog, you have followed the slogan. You have not followed your program, and checks the program requires are client-pays.
People search “what are the 4 customer due diligence requirements” when a principal wants a numbered list of four and is ready to treat the list as the rule. Checked against AUSTRAC's initial customer due diligence overview on 4 October 2026. This is general information, not legal advice. This page does not reproduce that guidance. The obligation in plain English is customer due diligence requirements. AUSTRAC's own checklist framing is AUSTRAC customer due diligence. The sector map is /tranche-2.
The slogan, translated
Search pages love a number. The number four is a teaching habit from other countries, and it has stuck to Australian searches. The four jobs people mean are real work: know who the customer is, verify that, know who is behind a company or trust, and revisit the file as the program requires. They are not a closed code.
A program can require sanctions screening, a risk rating, and enhanced steps on top of those four. A firm that stops at the slogan will miss whatever its own program added.
- Identify. Know which customer you are providing the designated service to.
- Verify. Check that identity in the way the program specifies, not in a way a blog invents.
- Owners and controllers. For a company or trust, name the individuals the test catches.
- Keep it current. Ongoing due diligence is the fourth idea people mean, and your program sets the trigger.
Slogan against the program
Lay the slogan next to the program before anyone prints a poster. Where the program is wider, the program wins. Where the slogan uses a word the program does not define, do not add a new rule to match the poster.
What people mean by four requirements, set beside the program. This table does not reproduce AUSTRAC's customer due diligence guidance.
| Slogan line | Honest meaning | What it leaves out |
|---|---|---|
| Identify the customer | Name the person or entity you are serving | Whether the matter is a designated service |
| Verify identity | The check the program specifies | A document list this page will not invent |
| Beneficial owners | Individuals who own or control | Directors added only because they are directors |
| Ongoing monitoring | Updates the program actually requires | A bank-style refresh you copied from somewhere else |
Where the number four stops
This page translates a search phrase. It is not AUSTRAC's list, because AUSTRAC does not publish the obligation under that title. The plain-English obligation is customer due diligence requirements.
Do not print this page as the firm poster. Print the program.
What the client pays
On FreeAML the firm suite is A$0. The firm emails the client a link. Verification is client-pays. On the public list a personal KYC check is A$20 and a company or trust KYB check is A$40. Use KYB when the customer is a company or a trust. A four-line slogan is not a bundle price, and it does not cap the file at one check. Confirm the live amounts on FreeAML pricing. FreeAML does not reduce your program to four boxes or certify that the slogan is complete.
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Frequently Asked Questions
Do the check the program names, not the slogan.
The firm suite is A$0. The client pays. KYC for a person is A$20. KYB for a company or trust is A$40.
Start a KYC checkQuestions: team@freeaml.com.au