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Every obligation. One platform. Built for Australia's 80,000+ newly regulated businesses — from your written AML/CTF program to AUSTRAC reporting.

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Sydney Legal Group
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Sydney Legal Group

Law Firm & Conveyancer · Sydney, NSW

verifiedAUSTRAC Enrolled
analyticsML/TF Risk — MediumView Report →
38 days · 1 Jul 2026
description
Complete

AML/CTF Program

Obligation #1

7 of 7 sections

Updated 12 May 2026

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Active

CDD & Onboarding

Obligation #2

47 entities screened

This month

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Active

Screening & Alerts

Obligation #3

0 new alerts

Last scan: just now

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Action Required

AUSTRAC Reports

Obligation #4

1 SMR pending

Due 28 May 2026

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Complete

Risk Assessment

Obligation #5

Residual: Medium-Low

Next review Jul 2026

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In Progress

Staff Training

Obligation #6

3 of 8 certified

5 staff remaining

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warning1 Suspicious Matter Report requires review — deadline 28 May 2026Review Now →
check_circle6 of 7 obligations activeABN 47 123 456 789Sector: Law Firm & ConveyancerLast sync: just now

Australia’s Tranche 2 AML/CTF Reform — By the Numbers

80,000+

New reporting entities under Tranche 2

1 Jul 2026

Hard AUSTRAC compliance deadline

7

Core compliance requirements to meet

7 yrs

Mandatory record retention period

Understand your Tranche 2 obligationsarrow_forward

The Complete Compliance Platform

Every obligation. Ticked.

KYCopilot covers every Tranche 2 requirement — from your written AML/CTF program through to AUSTRAC reporting. Select a solution to explore.

description

Tranche 2 Obligation #1

Core Requirement

AML/CTF Program Builder

AUSTRAC requires every reporting entity to maintain a written, risk-based AML/CTF program tailored to their specific business. KYCopilot generates a complete, AUSTRAC-aligned program in under 30 minutes — with guided sector-specific templates, embedded risk assessment, compliance officer framework and mandatory 3-year review scheduling built in.

check_circleSector-specific templates for law firms, accountants, real estate, DPMS and TCSPs
check_circleEmbedded ML/TF risk assessment across all four AUSTRAC-required dimensions
check_circleCompliance Officer designation with documented delegation of authority
check_circleAutomated 3-year independent review scheduling and 7-year record retention
description

Tranche 2 Obligation #1

Core Requirement

AML/CTF Program Builder

check_circleSector-specific templates for law firms, accountants, real estate, DPMS and TCSPs
check_circleEmbedded ML/TF risk assessment across all four AUSTRAC-required dimensions
Explore AML/CTF Program Builderarrow_forward
person_check

Tranche 2 Obligation #2

Core Requirement

Digital CDD & KYC/KYB Onboarding

check_circleASIC-verified identity for individuals and corporate entities
check_circleBeneficial ownership traced to ultimate controlling parties
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High-Risk & PEP Clients

High-Risk Clients

Enhanced Due Diligence Reports

check_circleFull source of wealth and source of funds analysis
check_circleCorporate network mapping to 4th and 5th-degree connections
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monitor_heart

Tranche 2 Obligation #3

Core Requirement

Screening and Monitoring

check_circlePerpetual PEP, sanctions and adverse media screening — not just at onboarding
check_circleInstant alerts when a client appears in a new sanctions list or news event
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send

Tranche 2 Obligation #4

Core Requirement

AUSTRAC Reporting Suite

check_circleAutomated suspicious activity detection with SMR narrative builder
check_circleTTR flagging for cash transactions at or above AUD $10,000
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analytics

Tranche 2 Obligation #5

Core Requirement

ML/TF Risk Assessment

check_circleFour-dimension assessment: customer, product, channel and geography
check_circleInherent-to-residual risk workflow with control effectiveness rating
Explore ML/TF Risk Assessmentarrow_forward
public

Geographic Risk Dimension

Intelligence

Country Risk Intelligence

check_circle200+ jurisdictions rated across 8 risk dimensions
check_circleFATF grey/blacklist, OFAC, DFAT and UN sanctions status integrated
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The Case for KYCopilot

Why Tranche 2 Compliance
Demands More Than a Checklist

AUSTRAC's Starter Kits are a starting point — not a finished solution. Real compliance requires verified customer data, ongoing monitoring, documented decisions and a program your compliance officer can actually defend.

The DIY Approach

Going It Alone

  • cancel

    Generic Starter Kit Templates

    AUSTRAC Starter Kits are not a finished AML/CTF program. Every firm still needs to customise, risk-assess and operationalise their own program from scratch.

  • cancel

    Manual CDD Bottlenecks

    Collecting, verifying and documenting customer identity manually adds hours of admin per client — and slows down billable work or property settlements.

  • cancel

    No Ongoing Monitoring

    Point-in-time CDD at onboarding misses the ongoing monitoring obligation — a client who passes screening today could be a PEP or sanctions match tomorrow.

  • cancel

    Missed Reporting Deadlines

    SMRs must be filed within 24 hours (terrorism) or 3 business days. Manual processes miss deadlines and expose your compliance officer to personal liability.

The KYCopilot Way

Complete. Compliant. Confident.

  • check_circle

    AML/CTF Program in 30 Minutes

    Generate a complete, AUSTRAC-aligned written program using guided templates. Risk-rated, version-controlled and review-scheduled.

  • check_circle

    Verify Customers in Seconds

    Digital identity verification with document scanning, liveness checks and instant beneficial ownership mapping — no paper forms, no delays.

  • check_circle

    Perpetual Screening & Monitoring

    Continuous PEP, sanctions and adverse media monitoring — not just at onboarding. Immediate alerts when a client's risk profile changes.

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    Automated AUSTRAC Reporting

    SMR drafts generated automatically from flagged suspicious activity. TTR detection for $10,000+ cash. Full audit trail for every report.

Tranche 2 Sectors

Built for every newly regulated
Australian reporting entity

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Law Firms & Conveyancers

AUSTRAC deadline: 1 Jul 2026

Law firms providing real estate transactions, managing client money, creating trusts or acting as nominee directors become reporting entities under Tranche 2. KYCopilot delivers a complete AML/CTF program, digital CDD onboarding and ongoing monitoring — so you meet every obligation without disrupting billable time.

See solutions for Law Firms

Key Obligations

check_circleWritten AML/CTF Program
check_circleCustomer Due Diligence (CDD)
check_circleBeneficial Ownership Mapping
check_circlePEP & Sanctions Screening
check_circleAUSTRAC Reporting (SMR/TTR)
check_circle7-Year Record Retention
check_circleStaff AML/CTF Training
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Law Firms & Conveyancers

Deadline: 1 Jul 2026

Law firms providing real estate transactions, managing client money, creating trusts or acting as nominee directors become reporting entities under Tranche 2. KYCopilot delivers a complete AML/CTF program, digital CDD onboarding and ongoing monitoring — so you meet every obligation without disrupting billable time.

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Accountants & Tax Agents

Deadline: 1 Jul 2026

Accountants forming companies, managing trusts or providing tax advisory on ownership structures are captured. KYCopilot maps complex beneficial ownership chains, automates CDD on every client engagement and keeps your compliance records audit-ready for AUSTRAC.

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Real Estate Agents & Property Developers

Deadline: 1 Jul 2026

Every property transaction triggers CDD obligations for agents and developers. KYCopilot verifies buyers, sellers and beneficial owners in minutes — not days — keeping settlements on track while satisfying AUSTRAC requirements.

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diamond

Dealers in Precious Metals & Stones

Deadline: 1 Jul 2026

DPMS are required to report cash transactions ≥ AUD $10,000 and maintain full CDD records. KYCopilot automates TTR detection, screens buyers against sanctions and PEP lists and maintains your 7-year compliance record.

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Trust & Company Service Providers

Deadline: 1 Jul 2026

TCSPs are at the core of Tranche 2 — their entire business creates the structures AML law seeks to look through. KYCopilot provides deep beneficial ownership mapping across multi-layer trust and corporate structures and full CDD for every engagement.

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currency_bitcoin

Virtual Asset Service Providers

Deadline: 31 Mar 2026 — EARLY

VASPs face the earliest Tranche 2 obligations — from 31 March 2026. KYCopilot delivers rapid digital CDD, ongoing transaction monitoring and full AUSTRAC reporting automation for crypto exchanges and digital asset platforms.

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Banks & Financial Institutions

Deadline: Existing

Existing reporting entities upgrading their capabilities for the expanded Tranche 2 landscape. KYCopilot automates high-volume CDD, EDD and ongoing monitoring at scale — delivering AUSTRAC-ready intelligence in minutes.

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smartphone

Fintechs & Payments

Deadline: Existing

Fast-growing payment platforms face explosive onboarding volumes with zero tolerance for AML/CTF gaps. KYCopilot's batch CDD and API-first architecture lets you verify thousands of customers while maintaining full compliance.

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Compliance Coverage

verifiedAUSTRACverifiedAML/CTF Act 2006FATFOFAC (US)UN Security CouncilEU SanctionsUK Sanctions (HMT/OFSI)
verifiedASIC Company RegistryBeneficial OwnershipPEP & SanctionsAdverse MediaTTR / SMR / IFTIOECD (CRS)verifiedTranche 2 Aligned
AUSTRAC enforcement begins 1 July 2026 — no grace period

1 July 2026 is not a
soft deadline.

80,000+ Australian businesses face the same deadline. The ones who start now — and start with the right platform — will be compliant, confident and competitive. The ones who wait will be scrambling.

Start Your AML/CTF Program →Tranche 2 Readiness Guide

Free to start. No credit card. AUSTRAC-ready in days, not months.

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