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AUSTRAC compliant

Beneficial owner verification for Australian businesses

Automatically detect and verify beneficial owners (UBOs) for any Australian entity. AUSTRAC-compliant verification from $15 per person. No signup. No subscription.

AUSTRAC UBO compliantNo monthly subscriptionAutomatic UBO detection2-3 mins per UBO

UBO verification is mandatory from July 1, 2026

AUSTRAC requires verification of all beneficial owners (25%+ ownership or control). Non-compliance penalties up to $27 million.

What is beneficial owner verification?

Beneficial owner verification (UBO verification) is the process of identifying and verifying the natural persons who ultimately own or control a business entity. Under Australia's AML/CTF Act 2006, you must verify the identity of all beneficial owners when dealing with companies, trusts, or other corporate structures.

A beneficial owner is any individual who:

  • Owns 25% or more of the entity (shares, units, beneficial interest)
  • Controls the entity through voting rights, appointment power, or other means
  • Is the senior managing official (if no one meets the 25% threshold)

AUSTRAC requires you to trace ownership through multiple layers until you reach natural persons. Entities cannot be beneficial owners—you must identify the real people behind the business.

The 25% ownership rule

Who you must verify as a beneficial owner

Companies

Shareholders with 25%+ ownership. If no shareholder has 25%, verify all directors. For proprietary companies, verify all shareholders regardless of percentage.

Trusts

Trustees with control, beneficiaries with 25%+ interest, settlors, appointors, and any person with power to remove/appoint trustees or beneficiaries.

SMSFs

All trustees and members must be verified. SMSFs typically have 1-4 members who are also trustees, making UBO verification straightforward.

How UBO verification works

Automatic detection and verification in 3 simple steps

STEP 01

Automatic UBO detection

Verify the entity first ($35). Our system automatically identifies beneficial owners from ASIC, ABR, or trust deed records. You see a list of all UBOs who need verification.

STEP 02

Select UBOs to verify

Review the detected UBOs and select which ones to verify (AUSTRAC requires all). We send each person a verification link via email or SMS. Multiple UBOs can verify simultaneously.

STEP 03

Receive individual reports

Each UBO completes ID verification (2-3 mins). You receive separate AUSTRAC-compliant CDD reports for each verified beneficial owner, ready for audit.

Beneficial owner pricing

$15 per beneficial owner. No subscription required.

Most Common

Entity + Beneficial Owners

Complete AUSTRAC-compliant verification

Entity verification (KYB)$35
Beneficial owner #1$15
Beneficial owner #2$15
Total$65
Automatic UBO detection from ASIC
Full KYC on each beneficial owner
Individual CDD reports per UBO
AUSTRAC audit-ready documentation
No monthly subscription fees

Client-pays option: Your client pays entity + UBO costs. Completely free for you.

UBO verification FAQs

Common questions about beneficial owner verification

Start verifying beneficial owners now

Automatic detection. Instant verification. AUSTRAC compliant. No subscription.