On 1 July, the number of businesses regulated by AUSTRAC grew from around 19,000 to close to 100,000. The obligations that hurt aren't the one-off ones. They're the ones that repeat on every new client, every matter, every year: due diligence, identity records, risk ratings, monitoring, seven-year record-keeping. That recurring load is exactly what a well-built onboarding system is for.
The Act describes duties; your week fills up with the workflows underneath them. Here's the same list your AML advisor will give you, with the operational reality attached.
Identify and verify every new client; understand ownership structures; assess and record money-laundering risk before providing a designated service.
The workflow reality: ID collection, verification, risk-rating and file notes on every single onboarding, forever. This is the single biggest recurring load Tranche 2 adds.
A documented, risk-based program approved at the top of the business, reviewed and kept current as your services and risks change.
The workflow reality: the program is advice work, but keeping it operational (staff actually following it, evidence being captured) is a systems problem.
Monitor customer activity against expected behaviour; report suspicious matters to AUSTRAC within tight timeframes.
The workflow reality: someone has to notice, escalate, document and lodge, with the clock running. Unstructured, this lands on your most senior people at the worst times.
Retain CDD records, transaction records and program documentation for seven years, retrievable if AUSTRAC asks.
The workflow reality: "it's in an email somewhere" is not a retention system. Records need structure, retention rules and an audit trail from day one.
In validation Early access: being piloted with a client before general release, and quoted after a practice review.
One fixed-price product, built around your own Microsoft 365 tenant and your client file. Hosted in Australia. Sensitive data stays onshore. Its job is to prove your AML program actually runs.
Onboarding a client sets off ID verification and sanctions and PEP screening automatically, so due diligence starts complete instead of starting with email archaeology.
Ownership details for companies and trusts are collected as part of onboarding and recorded against the client, rather than living in an email thread.
Your program's criteria become a guided risk rating. A partner reviews and approves, and the system records who decided what, and when.
Every check, rating and approval is filed in your AML register and client file, so AUSTRAC's questions are answered in minutes, not weekends. Suspicious matter decisions and reports stay with your AML compliance officer.
We are not AML advisors, and this page is not legal or compliance advice. Your AML/CTF program and legal obligations belong with your AML specialist or lawyer. We're happy to work alongside them. What we build is the operational layer underneath the program: the workflows, records and audit trails that make it real. Security-first MSP since 2017, and client data stays in your Microsoft 365 tenant or our Australian Azure.
The AML Onboarding & Evidence Pack is setup from $4,950 + GST, then from $295 a month plus ID verification checks passed through at cost, for firms of up to 10 staff. Scope and price are confirmed in writing after a 30-minute practice review, before any work starts. Evisent managed clients receive 10% off setup. While the pack is in validation, it is offered as early access and quoted after that review.
If you provide designated services (for accountants and lawyers that includes managing client money, setting up companies and trusts, and conveyancing), you're likely an AUSTRAC reporting entity from 1 July 2026. AUSTRAC says the number of regulated businesses grew from around 19,000 to close to 100,000. Confirm your specific position with your AML advisor or lawyer.
No, and be wary of anyone who both writes the program and marks their own homework. The program is advice work for an AML specialist or lawyer. We build the systems underneath it: onboarding workflows, CDD data handling, record-keeping and audit trails, so the program is operational rather than a binder on a shelf.
Setup from $4,950 + GST, then from $295 a month plus ID verification checks passed through at cost, for firms of up to 10 staff. Larger firms, and practices on Xplan, Karbon or MYOB Practice, are quoted upfront. Full pricing is on the accounting Practice Automation page. While the pack is in validation, it is offered as early access and quoted after a practice review.
Enrolment is the first step. The ongoing load is operational: due diligence on every new client, monitoring and reporting, records retained for seven years. That recurring workflow is what the pack carries, and where we'd start a practice review.
Bring your AML advisor's requirements if you have them. If the pack isn't the right answer for your scale, we'll say so. "No action needed" is a real outcome here too.
SEE ALSO: PRACTICE AUTOMATION FOR ACCOUNTANTS · ACCOUNTING FIRMS · LEGAL PRACTICES