KYC & Customer Due Diligence Compliance
Vero makes it straightforward to meet your KYC and CDD obligations — with AI-assisted verification, risk-based customer assessment, and a complete audit trail that proves your compliance to any regulator.
Australia's Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Tranche 2 reforms extend mandatory compliance obligations to a broad range of professional services that were previously unregulated under AusTrac.
For the first time, real estate agents, accountants, lawyers, trust and company service providers, and dealers in precious metals and stones must implement formal AML/CTF programs — including KYC procedures, ongoing Customer Due Diligence, and transaction monitoring.
The obligation isn't just to perform these checks — it's to be able to demonstrate that you did. Vero gives you the programme, the process, and the proof.
Verify the identity of customers and beneficial owners before and during the business relationship, using risk-appropriate methods with documented evidence.
Understand the nature and purpose of each customer relationship, apply enhanced scrutiny to higher-risk customers, and review CDD on an ongoing basis.
Maintain a documented AML/CTF program, train your staff, and demonstrate to AusTrac that your controls are operating effectively through audit-ready records.
Monitor transactions for unusual activity, maintain up-to-date customer information, and report suspicious matters — all with documented decision-making throughout.
Structured KYC workflows with AI-assisted document review. Every verification step recorded with evidence, reviewer attribution, and timestamp.
Automated screening of customers against Politically Exposed Person registers and sanctions lists, with documented results and human review sign-off.
Automatic CDD level assignment (Standard, Enhanced, Simplified) based on your risk methodology, with the reasoning documented for every customer.
Structured capture of complex ownership structures — trusts, companies, partnerships — with visual mapping and verification at each ownership layer.
Automated scheduling of periodic CDD reviews with risk-based frequency. Overdue reviews are flagged to the appropriate reviewer — nothing falls through.
Compliance reports formatted to demonstrate your AML/CTF program to AusTrac — and exportable for internal governance and board reporting.
Vero is purpose-built for the sectors newly captured under AusTrac Tranche 2 — and applicable wherever KYC and CDD obligations apply.
Vero handles KYC for buyers, sellers, landlords, tenants, and the beneficial owners behind them — across residential and commercial property transactions. Designed for the workflows real estate businesses actually use.
Structured CDD for client onboarding across tax, accounting, and advisory services. Vero integrates with existing client management workflows and creates the compliance record alongside your normal work.
Matter-level KYC and CDD for clients engaged in real property, trust, company, and financial transactions — with enhanced diligence workflows for higher-risk matters.
Transaction-level KYC for high-value asset purchases, with threshold monitoring, PEP screening, and complete documentation of every customer interaction.
The KYC and CDD obligations that apply under Australia's AML/CTF Act are structurally similar to requirements in Hong Kong, Singapore, the UK, and across the FATF network. Vero's framework is built to align with FATF recommendations — making it relevant well beyond Australia's borders.
Whether you're a domestic business meeting AusTrac obligations, or an international firm aligning to multiple regulatory frameworks, Vero's risk-based approach and documented audit trail translate across jurisdictions.
AML/CTF Act Tranche 2 obligations for regulated entities
AMLO CDD and ongoing monitoring requirements
PSOA and MAS Notice CDD obligations
Risk-based approach aligned to FATF Recommendations 10–12
The AML/CTF Amendment Act 2024 brings four new professional categories under AusTrac regulation from 1 July 2026. All four need an AML/CTF programme, CDD processes, and an AusTrac-enrolment-ready compliance system.
AML/CTF obligations apply to property sale and purchase services. Vero handles buyer and seller KYC, beneficial ownership, risk classification, and ongoing monitoring.
Trust account management, company and trust formation, and property conveyancing are all designated services under Tranche 2. Vero delivers CDD workflows built for legal practice obligations.
Accounting services involving company formations, trust establishment, and financial advice fall within Tranche 2 scope. Vero provides scalable KYC and AML/CTF compliance for accounting practices of all sizes.
For existing AusTrac reporting entities transitioning to updated CDD requirements and new reporting obligations from March 2026, Vero provides a structured migration path.
AusTrac enrolment opens 31 March 2026. Obligations commence 1 July 2026.
Implementation typically takes 3–6 months. If you haven't started, start now.
Vero is live and ready to deploy. Whether you're just starting to think about your AML/CTF program or looking to replace a manual process that won't scale, speak to us about what implementation looks like for your business.