Law Firms & Conveyancers
Law firms, conveyancers and legal practitioners providing designated legal services are now reporting entities under the AML/CTF Act 2006. From client intake to property settlement, every designated service requires a documented, risk-based compliance program.
AUSTRAC Obligations
How KYCopilot helps
Client intake CDD/EDD with ASIC and identity verification
Beneficial ownership mapping for trust and corporate structures
Conveyancing party and counterparty screening
Source of funds intelligence for property transactions
SMR narrative construction with compliance audit trail
AML/CTF Program Builder for law firm designated services
Accountants & Tax Agents
Registered tax agents, BAS agents and accountants providing designated accounting services — including tax advisory, company incorporation and financial statement preparation — must now enrol with AUSTRAC and maintain a full AML/CTF compliance program.
AUSTRAC Obligations
How KYCopilot helps
Client acceptance CDD with ABN, ASIC and identity verification
Company and trust beneficial ownership mapping
High-risk client EDD for complex or offshore structures
COMFORT Score™ for engagement risk documentation
AML/CTF Program Builder for accounting firm services
Batch monitoring alerts for portfolio-wide risk changes
Real Estate Agents & Developers
Real estate agents buying or selling real property, and property developers selling new property to first purchasers, are now reporting entities. Australia's property sector has been identified by AUSTRAC as a high ML/TF risk sector, particularly for large cash transactions and foreign purchasers.
AUSTRAC Obligations
How KYCopilot helps
Buyer and seller KYC/KYB from identity to beneficial ownership
Source of funds and source of wealth intelligence
Foreign purchaser risk assessment and FIRB cross-check
Trust and corporate structure mapping for entity purchases
PEP, sanctions and adverse media screening for all parties
AUSTRAC-aligned transaction monitoring for cash transactions
Dealers in Precious Metals & Stones
Dealers in precious metals, precious stones and jewellery (DPMS) conducting cash transactions above the AUD 10,000 threshold must now maintain a full AML/CTF compliance program. The sector faces particular scrutiny given the liquidity and portability of high-value assets.
AUSTRAC Obligations
How KYCopilot helps
Customer identity verification for cash transactions
PEP and sanctions list screening at point of sale
Structuring pattern detection for split cash payments
Source of wealth intelligence for high-value purchases
Adverse media screening for repeat or high-spend customers
TTR and SMR workflow with AUSTRAC submission
Trust & Company Service Providers
TCSPs — including registered agents, company formation agents, trust administrators and nominee service providers — sit at the centre of complex corporate structures and are required to identify all beneficial owners and controlling parties of every entity they service.
AUSTRAC Obligations
How KYCopilot helps
Deep beneficial ownership mapping across multi-layer structures
Trust party identification — settlor, trustee, protector, beneficiaries
Nominee-transparency due diligence and disclosure documentation
Jurisdiction risk assessment for foreign-incorporated entities
Adverse media and PEP screening for all controlling parties
AML/CTF Program Builder tailored to TCSP designated services
Virtual Asset Service Providers
VASPs — crypto exchanges, digital asset platforms, NFT marketplaces and virtual asset wallet providers — had an earlier AUSTRAC enrolment and compliance program deadline of 31 March 2026. If you haven't enrolled, the clock has already passed.
AUSTRAC Obligations
How KYCopilot helps
Customer identity verification at wallet creation
Travel Rule data collection and transmission
Blockchain analytics integration for transaction monitoring
PEP, sanctions and adverse media screening at onboarding
High-frequency transaction alert triage
AUSTRAC VASP compliance program documentation
Financial Institutions (Tranche 1)
Banks, credit unions, insurers, managed funds and other financial services licensees have been reporting entities since 2006. Tranche 2 expands the regime — but Tranche 1 entities gain new automated obligations and benefit from KYCopilot's AUSTRAC-aligned platform for EDD, monitoring and reporting.
AUSTRAC Obligations
How KYCopilot helps
Enhanced due diligence for high-risk corporate and PEP customers
COMFORT Score™ for audit-ready customer risk documentation
Correspondent banking KYB and country risk assessment
I2G™ ongoing monitoring with automated re-screening alerts
SMR narrative builder and AUSTRAC submission workflow
IFTI detection and reporting workflow
Other Designated Businesses
Additional categories designated under Tranche 2 reforms include certain payroll service providers, invoice financing businesses, and other entities newly captured by the AML/CTF Act. If you are uncertain whether your business is caught, KYCopilot can help you assess your obligations.
AUSTRAC Obligations
How KYCopilot helps
Obligation assessment and AUSTRAC enrolment guidance
Designated service mapping to AML/CTF requirements
AML/CTF Program Builder once obligations confirmed
Customer CDD workflows tailored to your service type
Compliance Officer designation and governance framework
Industry-specific risk assessment and control design
Your sector. Your deadline.
One platform.
KYCopilot covers all Tranche 2 obligations — from AML/CTF Program Builder through to AUSTRAC reporting — for every sector caught by the reforms.