Your all-in-one Tranche 2 compliance solution

Smart AML solutions simplify workflows while meeting every compliance requirement. Look for a platform that includes digital ID verification, risk assessment tools, automated monitoring and audit-ready reporting. For small businesses, simplicity and local support are key, especially with Tranche 2 expanding AUSTRAC obligations to new sectors.

Australian AML software must align with AUSTRAC’s unique regulatory framework. While global tools may be built for FATF or US-based standards, local software (like easyAML!) is purpose-built for Australian laws, including Tranche 2. That means accurate compliance, fewer workarounds and workflows tailored to local risk and reporting obligations.

AML solutions often refer to a complete suite, covering ID checks, training, policies, reporting and monitoring. AML compliance software usually focuses more narrowly on documentation or reporting. easyAML does both: it's a complete AML solution with built-in software tools tailored to meet all of your Tranche 2 needs. 

While AUSTRAC doesn’t “approve” providers, easyAML is fully aligned with its guidance and obligations. We build our platform based on AUSTRAC’s compliance requirements and update it as new rules emerge, so you’re never left guessing what’s needed to stay compliant.

Audit-readiness is baked into the best AML software. easyAML stores all verification records, policy changes and monitoring logs securely, in AUSTRAC-compliant formats. If audited, you’ll be able to generate required reports instantly, with proof of compliance steps already documented and time-stamped.

Yes. Modern AML software is designed to support all key AUSTRAC reporting obligations, including Suspicious Matter Reports (SMRs) and Threshold Transaction Reports (TTRs). The software helps detect suspicious activity and transactions that meet reporting thresholds, automates report generation and ensures timely submission through AUSTRAC’s secure portal. 

AML compliance solutions centralise and securely store all required records, including customer identification (KYC), transaction data, AML program documentation and reports submitted to AUSTRAC. These systems maintain detailed audit trails and provide easy retrieval of records for the mandatory seven-year retention period. This way, you’re always prepared for AUSTRAC audits or investigations, demonstrating transparent and verifiable compliance with AML/CTF laws. 

AML software continuously monitors transactions using predefined risk rules and behavior patterns to detect potential money laundering or terrorism financing. It uses rule-based algorithms to detect structured transactions and high-risk activity. When suspicious activity is detected, the system generates alerts, enabling compliance officers to investigate and decide whether to file Suspicious Matter Reports (SMRs) with AUSTRAC.

AML software integrates seamlessly with client onboarding workflows by embedding customer identification (KYC) and due diligence checks directly into the onboarding process. This ensures that all customers are verified before receiving designated services, using document verification, electronic identity verification and risk assessments. 

Using a local Australian AML solution offers several advantages:

Reduced risks associated with cross-border data privacy and compliance issues.

Tailored to AUSTRAC’s specific regulatory requirements, reporting formats and deadlines.

Up-to-date with local AML/CTF law changes, including Tranche 2 expansions and sector-specific rules.

Customer support teams familiar with the Australian regulatory context and business environments.

Integration with AUSTRAC Online for smooth, compliant reporting.

Faster response times and training resources aligned with local compliance expectations.