Verify buyers, sellers, and entities for every settlement. Tranche 2 compliance made simple. July 1, 2026 deadline.
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Every settlement requires full CDD. Verify all parties at engagement, track status until settlement.
Send verification links to buyers, sellers, guarantors, and entities all at once. Group by matter reference to track settlement progress.
Upload bank statements, loan docs, or sale contracts. AI extracts amounts and flags risks (cash deposits >$10k, international transfers).
Monitor verification status for each settlement. Know who's verified, who's pending, who needs follow-up. Mark settlements complete after settlement day.
Tranche 2 requirements for conveyancers and settlement agents
Biometric ID check + liveness detection for every buyer, seller, guarantor, director, and beneficiary. Photo ID verified against government databases.
Company, trust, or SMSF verification. ASIC extract for companies, trust deed parsing for trusts, automatic UBO identification and verification.
PEP (politically exposed persons) and sanctions screening for all individuals and entities. Ongoing monitoring during the engagement period.
For large settlements or high-risk clients, verify where the purchase funds originated. Bank statements, loan documents, or property sale contracts.
All verification documents, risk assessments, and compliance logs must be kept for 7 years after settlement. Audit-ready format.
All settlements from July 1, 2026 require full AML/CTF compliance. Penalties for non-compliance: up to $27.5 million civil penalties or 10 years imprisonment for criminal breaches.
Everything conveyancers need to know about Tranche 2
Start verifying parties today. Be ready for July 1, 2026.