$20 per beneficial owner, after the KYB

This page is only the people. Run the $40 entity KYB first. FreeAML then lists who owns or controls 25% or more, and each of those people is a $20 check. Your client pays. No subscription. Each owner gets their own CDD report by email.

Charged after the $40 KYBNo 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 can mean significant civil penalties set in penalty units.

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 ($40). 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 by email. Multiple UBOs can verify simultaneously.

STEP 03

Receive individual reports

Each UBO completes ID verification (2-3 mins). You receive separate CDD reports for your firm's file for each verified beneficial owner, ready for audit.

Beneficial owner pricing

$20 per person, only after the $40 entity KYB. Your client pays. No subscription.

Most Common

Entity + Beneficial Owners

Complete verification built for AUSTRAC Tranche 2 CDD

Entity verification (KYB)$40

Beneficial owner #1$20

Beneficial owner #2$20

Total$80

Automatic UBO detection from ASIC

Full KYC on each beneficial owner

Individual CDD reports per UBO

Audit pack for your firm: program and risk assessment, CDD reports, AUSTRAC reports you prepared, the audit trail, the training register (progress, FAML- certificate IDs when issued in FreeAML, and self-reported device imports), sanctions checks, and annual compliance reports

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. Built for Tranche 2 CDD. No subscription.