Tranche 2 Obligation #2 — Know Your Customer from Day One

Digital CDD &
KYC/KYB Onboarding

AUSTRAC-compliant customer due diligence for individuals and corporate entities. Verify identity, map beneficial ownership, screen for PEP and sanctions exposure, and assign risk-based CDD tiers — all in a single guided workflow your team actually uses.

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Free to start — no credit card required.

CDD workflow

01

Identify the Customer

Collect full legal name, DOB, address, TFN/ABN as applicable. Document collection against AUSTRAC Part 2 requirements.

02

Verify Identity

Cross-check against ASIC registry, document verification services, or biometric identity providers — whichever matches your program settings.

03

Map Beneficial Ownership

Identify and verify all individuals who ultimately own or control ≥25% of a corporate entity. Capture trustees, settlors, beneficiaries for trusts.

04

Screen for Risk

Automated PEP, sanctions, adverse media and regulatory watch-list screening. COMFORT Score™ computed instantly.

05

Assign CDD Tier

Standard, Simplified or Enhanced CDD pathway determined by risk score, customer type and your AML/CTF program thresholds.

06

Retain & Monitor

All CDD records retained for 7 years. Ongoing monitoring triggers re-screen when customer or entity data changes.

Patented Technology

Meet the COMFORT Score™

Every CDD file receives a COMFORT Score™ — a composite match-confidence rating that quantifies how completely and reliably the customer's identity has been verified across all data sources. It's the number your compliance officer and auditor can point to.

verified
98.4%
Identity Verified
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PASS
Sanctions Clear
shield
None
PEP Status
stars
94
COMFORT Score

Everything AUSTRAC requires.
Automated from day one.

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ASIC-Verified Identity

Instant verification against ASIC Company Registry, PPSR, ABN Lookup and national identity documents — eliminating manual searches and data entry errors.

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Beneficial Ownership Mapping

Automatically trace and document UBO structures to the required AUSTRAC threshold — with corporate tree visualisation and AUSTRAC-compliant ownership registers.

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KYC & KYB in One Flow

Unified individual (KYC) and business (KYB) onboarding workflows — collecting AUSTRAC-mandated customer identification information in a single guided journey.

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Risk-Based CDD Tiers

Automated Standard, Simplified and Enhanced due diligence pathways based on your program risk settings — so low-risk clients move fast, high-risk clients get scrutiny.

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PEP & Sanctions Screening

Real-time screening against OFAC SDN, UN Consolidated, DFAT Australian Sanctions, EU and UK sanctions lists — with structured match records and disposition tracking.

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Adverse Media Intelligence

Automated adverse media sweeps covering 100,000+ global sources in 30+ languages — structured risk findings linked directly to the customer record.

CDD obligations by
Tranche 2 sector.

CDD requirements differ by designated service. KYCopilot adapts to your sector automatically.

Law Firms & Conveyancers

check_circleVerify client before providing designated service
check_circleIdentify all parties to a transaction
check_circleBeneficial ownership for corporate clients
check_circleSource of funds for large transactions

Accountants & Tax Agents

check_circleCDD before providing designated accounting services
check_circleVerify beneficial owners of corporate clients
check_circleIdentify trustees and beneficiaries of trusts
check_circleOngoing monitoring for complex structures

Real Estate Agents

check_circleCDD on buyer and seller for designated property transactions
check_circleVerify identity before exchange of contracts
check_circleIdentify source of funds for property purchases
check_circleBeneficial ownership mapping for entity purchasers

DPMS

check_circleCDD for cash transactions ≥AUD 10,000
check_circleVerify identity of all parties
check_circleScreen for PEP and sanctions exposure
check_circleSource of wealth for high-value purchases
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CDD is not optional — it's a Part 2 obligation

Under the AML/CTF Act 2006 (as amended by Tranche 2 reforms), all reporting entities must verify the identity of customers before providing a designated service. Failure to conduct CDD — or maintaining inadequate records — carries civil penalty exposure of up to AUD 22.2 million per contravention.

Start Your CDD Workflow →

Know your customer.
Actually know them.

AUSTRAC-aligned CDD from identity verification to beneficial ownership mapping, PEP screening and risk-tiering — all in one digital workflow.

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