The Best AML/CTF Software in 2026 Compared

Thousands of Australian businesses were newly captured by Tranche 2, and the AML/CTF software they choose now often decides whether they meet their obligations properly or end up patching together spreadsheets, consultants and manual checks. 

This guide compares the leading options on the market in 2026, what each one does well, and where they fall short for the small and medium businesses now required to comply.

What is AML/CTF software?

AML/CTF software is a tool that helps a business meet its anti-money laundering and counter-terrorism financing obligations under Australian law. Depending on the platform, that can include identity verification, sanctions and PEP screening, risk assessments, transaction monitoring, staff training and AUSTRAC reporting.

Some AML software solutions cover the full compliance lifecycle in one place. Others specialise in a single piece, such as identity checks or risk scoring, and expect you to stitch together the rest yourself.

The best AML software in 2026

easyAML

Who is easyAML?

easyAML is an Australian AML/CTF platform built specifically for the professions newly regulated under Tranche 2. Rather than adapting an enterprise banking tool for smaller businesses, easyAML's platform was designed from the ground up for practices without an existing compliance team.

Key features of easyAML

easyAML's platform features cover the full compliance workflow:

• A guided AML/CTF program builder that produces an AUSTRAC-aligned program tailored to your sector
• Digital identity verification, including biometric checks and beneficial owner lookups
• Sanctions, PEP and adverse media screening
• Ongoing transaction monitoring and automated risk assessments
• Audit-ready reporting, with records securely stored for the required seven years
• On-demand staff training with quizzes and downloadable resources

Who is easyAML for?

easyAML is built for the professions most affected by Tranche 2: real estate agents, conveyancers, lawyers and accountants. Each profession has its own designated services under Tranche 2, and easyAML's compliance program adapts to what that specific business actually needs.

easyAML pricing

easyAML plans start from $179 a month plus GST, covering the guided program builder, risk assessments, staff training and local Australian support. Identity verifications are charged per check, so you only pay for the clients you actually onboard. Businesses that would rather hand transactions off entirely can use easyAML's outsourcing service, for $50 per transaction. 

Pros and cons of easyAML for AML/CTF compliance

• Pros: Purpose-built for Tranche 2 sectors rather than adapted from a banking product, transparent monthly pricing, and local Australian support included on every plan.
  
• Cons: As a newer entrant focused specifically on Tranche 2 industries, it isn't designed for large financial institutions or Tranche 1 entities with more complex, multi-jurisdictional compliance needs.

FreeAML

FreeAML positions itself as a low-cost entry point for businesses that want basic AML checks without a significant upfront commitment.

• Pros: A low-cost way for very small practices to get started with basic checks.
  
• Cons: Lower-cost options can offer fewer built-in features, so it's worth checking whether program building, ongoing monitoring and audit reporting are included or need to be handled separately. 

FrankieOne

FrankieOne is a Melbourne-based identity and fraud orchestration platform connecting to more than 350 data sources globally. It's widely used by major Australian banks and fintechs, including Westpac.

• Pros: Extensive global data coverage and a strong reputation with banks and fintechs.
  
• Cons: Built as identity orchestration infrastructure for enterprise compliance teams, so smaller practices may need additional tools for program building, training and day-to-day compliance management.

Arctic Intelligence

Arctic Intelligence is a Sydney-based RegTech company known primarily for its financial crime risk assessment software, used by banks, casinos and larger regulated businesses.

• Pros: Strong, configurable risk assessment tooling backed by AML specialists.
  
• Cons: Businesses may still need separate tools for identity verification and ongoing transaction monitoring, as the platform's core strength is risk assessment rather than a full end-to-end workflow

AMLHub

AMLHub is a New Zealand-founded platform serving real estate, legal and accounting businesses across Australia and New Zealand, with tiered pricing based on the number of admin users.

• Pros: An established presence in the real estate sector across Australia and New Zealand.
  
• Cons: Pricing is based on user seats, which suits larger teams but can be less cost-effective for a small practice with occasional AML checks. 

RealAML

RealAML is a New Zealand-origin platform focused heavily on the legal sector, used by thousands of law firms internationally, with a pay-per-use pricing model.

• Pros: Specialising in legal workflows, including client intake and file collection designed around how law firms operate.
  
• Cons: Its focus on legal practices means it's less tailored to real estate, conveyancing or accounting businesses navigating their own Tranche 2 obligations.

First AML

First AML is a New Zealand-founded, end-to-end AML platform with a strong presence among larger Australian law firms and real estate networks.

• Pros: Comprehensive coverage across individuals, companies and SMSFs, with established partnerships across the legal and real estate sectors.
  
• Cons: Pricing combines a platform fee with verification usage and is typically quoted rather than published, which can make early budgeting harder for smaller businesses.

Whitelight AML

Whitelight AML offers AML compliance support aimed at smaller regulated businesses navigating their obligations.

• Pros: A boutique provider offering a more personal level of support during setup.
  
• Cons: As a smaller provider, it publishes less detail about its features and integrations, so it's worth requesting a full walkthrough before committing. 

Important features to look out for in an AML software

Not every AML platform covers the same ground, so it's worth checking a shortlist against a few essentials before committing:

• Digital identity verification, including biometric checks and beneficial ownership lookups for company and trust clients
• Sanctions, PEP and adverse media screening that runs automatically rather than requiring manual lookups
• A program builder that produces an AUSTRAC-aligned document
• Ongoing transaction monitoring, since a one-off check at onboarding isn't enough under Tranche 2
• Audit-ready reporting with secure record storage for at least seven years
• Transparent, predictable pricing that matches your transaction volume

easyAML covers all six on every plan, with verification costs that scale with your client volume rather than your team size.

How to choose the right platform for your business

1. Start with your industry

A platform built for banks and large financial institutions will often include far more than a small real estate or accounting practice needs, and at a price to match. Look for software designed around your specific designated services, whether that's buying and selling property, managing client funds, forming companies and trusts, and the types of clients you onboard often. 

2. Match the pricing model to how you work

A per-transaction model tends to suit practices with variable volume, while per-seat pricing can suit larger teams with consistent, ongoing work. A subscription with usage-based verification fees sits between the two, giving you predictable platform costs while verification spend tracks the clients you actually onboard. Whichever model you choose, ask for a realistic cost estimate based on your typical monthly volume before you sign up.

3. Check what happens when something goes wrong

Software is only part of the picture. Ask whether support is based in Australia, whether you’ll have a dedicated account manager, and what the escalation path looks like if a verification fails or a client’s risk profile changes. When a settlement or engagement is on the line, a fast answer from someone who knows your business matters.

Book an AML software demo with easyAML

If you're weighing up your options or reviewing your current setup, easyAML offers a free demo built around your industry, so you can see exactly how the platform handles your specific Tranche 2 obligations before committing to anything. With account managers in every state and AML on Demand available for businesses that would rather outsource, you’ll get support that fits how you work.