YOUR COMPLETE AML/CTF SOLUTION. COMPLIANCE, WITH CONFIDENCE
Meet your Tranche 2 AML obligations with our simple, scalable platform.
About AML Shield
Our Mission
At AML Shield, our mission is to provide a robust compliance solution for financial crime compliance for businesses regulated by AUSTRAC. We aim to empower professionals such as lawyers, real estate agents and accountants to meet their AML/CTF obligations.
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Frequently Asked Questions
Please reach us at info@compli.net if you cannot find an answer to your question.
AML/CTF stands for Anti-Money Laundering and Counter-Terrorism Financing. In Australia, it's regulated by AUSTRAC (Australian Transaction Reports and Analysis Centre) under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. Tranche 2 entities, or Designated Non-Financial Businesses and Professions (DNFBPs), include lawyers, accountants, real estate agents, trust and company service providers, and dealers in precious metals/stones. These entities must comply with AML/CTF obligations starting from July 1, 2026, to prevent money laundering, terrorism financing, and proliferation financing. Non-compliance can result in significant fines for every breach — up to $33 million (100,000 penalty units) for a body corporate and up to $6.6 million (20,000 penalty units) for an individual.
Tranche 2 covers DNFBPs providing services like:
- Legal services involving real property, trusts, or company formation.
- Accounting services for business incorporations or trusts.
- Real estate transactions.
- Handling precious metals, stones, or high-value goods.
- Trust/company service providers.
Unlike Tranche 1 (banks, casinos), Tranche 2 entities enroll with AUSTRAC by March 31, 2026, and implement programs by July 1, 2026. Our solutions help these entities meet requirements like risk assessments, AML/CTF Programs, customer due diligence (CDD), transaction monitoring, and suspicious matter reporting (SMR).
Key Tranche 2 obligations include:
- Enrollment and Registration: Enrol with AUSTRAC before the deadline.
- AML/CTF Program: Develop a risk-based program covering CDD, ongoing monitoring, record-keeping, transaction monitoring and training.
- Customer Identification: Verify customer identities using reliable sources (e.g., 100-point ID or electronic verification).
- Reporting: Submit Threshold Transaction Reports (TTRs > AUD 10,000), International Value Transfer Service (IVTS) , and SMRs within 24 hours for TF or 3 business days for ML.
- Risk Management: Assess and mitigate ML/TF risks specific to your services, such as PEPs (Politically Exposed Persons) or customers from high-risk jurisdictions.
Our platform addresses these key areas, to ensure compliance without disrupting operations.
We offer a simple SAAS software platform for Tranche 2 reporting entities, including:
- Automated CDD/KYC: Real-time identity verification via integrated databases (e.g., AUSTRAC-listed sources) and biometric checks.
- Risk Assessment Tools: Customizable modules to identify high-risk clients/transactions based on AUSTRAC guidelines.
- Transaction Monitoring: AI-driven alerts for suspicious activities, with automated TTR/SMR filing.
- Program Builder: Templates for AML/CTF programs, including gap analysis against AUSTRAC's Tranche 2 rules.
- Training and Support: Online modules for staff and dedicated compliance experts.
- Integration: Seamless API connections to your existing CRM or accounting software.
This reduces manual workload, minimises errors, and scales for small firms to large practices.
- March 31, 2026: Enrolment with AUSTRAC opens for Tranche 2 entities.
- July 1, 2026: Core AML/CTF obligations commence; full compliance is required from this date.
Absolutely—our scalable, cloud-based tools are designed for solo practitioners through to mid-sized firms, with affordable pricing tiers and no need for in-house IT expertise. We focus on user-friendly interfaces to handle Tranche 2 compliance.
Sign up for a demo on our website, or email support (info@compli.net) for a Tranche 2 compliance roadmap. We're here to guide you through AUSTRAC enrollment and beyond.
Contact Us
Questions or Comments?
We know that our clients have unique needs. Send us a message, and we will get back to you soon.
AML Shield
Scarborough WA 6019, Australia
Hours
Mon | 09:00 am – 05:00 pm | |
Tue | 09:00 am – 05:00 pm | |
Wed | 09:00 am – 05:00 pm | |
Thu | 09:00 am – 05:00 pm | |
Fri | 09:00 am – 05:00 pm | |
Sat | Closed | |
Sun | Closed |
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www.amlshield.com.au
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COMPLIANCE WITH CONFIDENCE
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