Build for Tranche 2 reforms

Expert AML/CTF advisory,
built in.

Waive gives your practice the technology to run a compliant AML/CTF program — and connects you to specialist compliance advisors when you need them. Platform and expert, working together. Powered by our CleanId integration, a sister product in the Waive group.

See how it works View pricing
AUSTRAC aligned • 1 July 2026 ready • Made in Australia
Program fee
$100 / month

CleanID – Program & Platform – $100.00 plus GST per month

Activated via your Waive account. All prices in AUD, excl. GST.
What's included:
  • A full AML/CTF program (Part A and Part B) generated and maintained inside the platform, covering policies, procedures, risk assessment templates, and a staff training register
  • Dedicated training register, alerts, EDD & PEP register
  • On the verification side, your clients complete identity checks directly - three tiers depending on risk level, plus PEP and sanctions screening across DFAT, UN, and OFAC lists
  • SMR reporting includes tipping-off controls and approval gates; and a
  • 7-year timestamped audit log is generated automatically
Program fee
$199 / month
Searches billed separately.

One simple subscription gives your practice the AML/CTF program, policies, training register, and audit trail. Verification searches are billed per use, on top of the program fee.

Activated via your Waive account. All prices in AUD, excl. GST.
What's included:
  • Create your AML/CTF program (Part A and B)
  • Complimentary Program Review with advisory partner
  • Quarterly training webinars + staff training register
  • Risk assessment templates and methodology
  • Policies, procedures, and audit trail
  • Annual review and update of your program
  • Secure document storage (7-year retention)
  • Expert advisory included
AML/CTF Program
Customer Identification
PEP & Sanctions Screening
Suspicious Matter Reporting
7-Year Record Keeping
Consequences

The cost of non-compliance is not theoretical

AUSTRAC has demonstrated it will act. Penalties under the AML/CTF Act are calculated per breach, per day. A practice that fails to verify a single client’s identity before providing a designated service has already committed a breach. Multiply that across a client book of 200, and the exposure is significant before a single transaction is flagged.

Beyond penalties, there is reputational risk. AUSTRAC publishes enforcement actions. For a professional services firm, a public finding of non-compliance is a material business event.

$22,200

Per civil Breach • Individual

$111,000

Per civil breach • Body corporate

Public

AUSTRAC publishes all enforcement actions

Why it matters beyond compliance

AML protects your practice, not just your obligations.

A well-run AML program strengthens client relationships, improves your professional risk profile, and builds a practice that is audit-ready at any time.

01

Regulatory Protection

A documented, operational AML program is your primary defence in any AUSTRAC review. It demonstrates intent and due diligence — the two things that determine whether a finding becomes a penalty.

Austrac obligation
02

Know who your clients are

Verified identity means you genuinely know the person behind the engagement — protecting you from acting for someone who isn't who they claim to be.

KYC / CDD
03

Early fraud detection

PEP and sanctions screening at onboarding catches high-risk clients before a relationship begins. Biometric verification detects identity fraud that document checks alone miss.

FRAUD PREVENTION
04

Audit-ready records

Every identity check, screening result, risk rating, and review decision is stored automatically for 7 years. When AUSTRAC asks, you produce the record immediately.

7-YEAR RETENTION
05

Competitive differentiation

Practices that get AML right early attract clients who want certainty. Being demonstrably compliant becomes a marketing advantage — especially for complex structures or international clients.

BUSINESS GROWTH
06

Ongoing monitoring

Annual rescreening catches clients who become PEPs or appear on sanctions lists after onboarding. The obligation is ongoing — and so is the protection it provides.

ONGOING CDD
Your obligations at a glance

Eight things Every practice must do.

01

AML/CTF Program

Written, approved program covering Part A (risk controls) and Part B (customer identification). Reviewed every 3 years or on material change.

PART A + PART B REQUIRED
02

Customer Identification (KYC)

Verify every client's identity before providing a designated service. Individuals require document verification. Entities require ASIC and UBO checks.

BEFORE SERVICE COMMENCES
03

Customer Due Diligence

Understand the nature and purpose of the relationship, assign a risk rating, and document the basis for your assessment.

LOW · MEDIUM · HIGH
04

Enhanced Due Diligence

Required for PEPs, high-risk jurisdictions, and suspicious activity. Includes source of funds, source of wealth, and senior manager approval.

TRIGGERED BY RISK OR PEP MATCH
05

Ongoing Monitoring

Periodic review — annually for high-risk, every 2 years for medium, every 3 years for low-risk clients.

RISK-BASED REVIEW SCHEDULE
06

Suspicious Matter Reporting

Report to AUSTRAC within 24 hours (terrorism financing) or 3 days (other suspicious matters). Tipping off is prohibited.

24H / 3 DAY OBLIGATIONS
07

Record Keeping

Retain all CDD documents, transaction records, and program materials for 7 years. Must be accessible and retrievable for AUSTRAC on request.

7-YEAR MINIMUM
08

Staff Training

All personnel with AML functions must receive role-appropriate training, updated when the program changes or AUSTRAC issues new guidance.

ROLE-BASED · ONGOING
How It Works

Technology + expertise. Everything you need.

Waive handles the compliance workflows. Our advisory partner handles the substance. Together, your practice has a fully defensible AML/CTF program.

01

Create your AML/CTF program

Stand up a complete AML/CTF program for your practice — Part A risk controls, Part B KYC procedures, risk assessment templates, policies, and staff training register — generated and maintained inside the platform.

INCLUDED IN SUBSCRIPTION
02

Program Review

A scoped review of your AML/CTF program — Part A risk controls, Part B KYC procedures, and risk assessment — with written findings and recommended actions. Delivered by qualified compliance advisors, documented in your audit trail.

COMPLIMENTARY WITH SUBSCRIPTION advisory
03

Acces to Ongoing Advisory

Beyond the initial review, access to advisory support will be available, independent evaluation (required every 3 years) and discounted rates for escalation advice on complex SMR and EDD decisions.

DIRECT ENGAGEMENT · BILLED SEPARATELY advisory
04

Quarterly Training Webinars

Included in your subscription — quarterly sessions covering regulatory updates, obligation deep-dives, and platform news. Your staff training record, maintained automatically.

INCLUDED IN SUBSCRIPTION
Why It Works

One solution. No gaps.

Most practices end up with a compliance tool that doesn’t quite fit, or an advisor who doesn’t know the system. This is built differently.

Platform enforces process

Every CDD step, SMR approval, and EDD decision is locked into the workflow. Hard gates. No manual workarounds. Audit trail generated automatically.

Advisory validates substance

Technology can't tell you if your risk appetite is appropriate or your program is defensible. That's what the advisory layer does — expert judgement on the things that matter most to AUSTRAC.

advisory

Built for accountants

Not adapted from a banking platform. Every workflow reflects the actual obligations accounting practices face under Tranche 2 — including the ones most practices will get wrong.

Platform features

Everything you need, built in.

Identity verification

3 search tiers · DVS · Background sources · Biometrics with liveness detection

PEP & sanctions screening

DFAT · UN · OFAC · domestic and foreign PEPs

Risk engine and CDD routing

Automated Low / Medium / High rating with EDD escalation

Enhanced CDD workflow

Source of funds · source of wealth · senior manager approval gates

SMR reporting

In-platform creation with tipping-off controls and CO approval

AML/CTF program management

Program review scores · gap identification · governing body approval

Staff training module

Role-based training with completion tracking

7-year audit log

Timestamped · user-attributed · regulator-ready export

AUSTRAC-compliant identity verification

Three searches. Every obligation covered.

Purpose-built for Australian accounting firms. Meet your Tranche 2 AML/CTF requirements from day one.

Individual clients
Business entities • coming soon
Entry Level Low risk

Verify

DVS + PEP & Sanctions

Document-based identity verification with mandatory sanctions and PEP screening. Meets AUSTRAC minimum CDD for low-risk individual clients.

$ 6 per verification
excl. GST
WHAT'S INCLUDED
  • DVS document check Passport driver licence (all states) · Medicare · visa · citizenship cert · ImmiCard
  • PEP & Sanction screening DFAT consolidated list · UN sanctions · OFAC · domestic and foreign PEPs
AUSTRAC OBLIGATIONS MET
  • Customer identification — document verified against DVS
  • Sanctions screening — DFAT, UN, OFAC lists checked
  • PEP screening — domestic and foreign PEPs
  • Audit record — date, result, document type stored
Available via the Waive platform for Waive clients
Recommended
Recommended Standard CDD

Verify+

DVS + Background + PEP & Sanctions

Document verification with corroborating background data sources. Stronger identity assurance — catches synthetic identities and address discrepancies.

$ 9 per verification
excl. GST
WHAT'S INCLUDED
  • DVS document check Passport · driver licence (all states) · Medicare · visa · citizenship cert · ImmiCard
  • Background data sources illion credit header · ASIC name search · tenancy file · address corroboration · data co-op
  • PEP & sanctions screening DFAT consolidated list · UN sanctions · OFAC · domestic and foreign PEPs
AUSTRAC OBLIGATIONS MET
  • Customer identification — document verified against DVS
  • Identity corroboration — background sources cross-check name and address
  • Sanctions screening — DFAT, UN, OFAC lists checked
  • PEP screening — domestic and foreign PEPs
  • Audit record — date, result, sources checked, document type stored
Available via the Waive platform for Waive clients
Full Stack High risk · EDD

Certify

DVS + Background + Biometrics + PEP & Sanctions

Maximum identity assurance. Face match and liveness detection over background corroboration. Required for high-risk clients, PEPs and EDD triggers.

$ 19 per verification
excl. GST
WHAT'S INCLUDED
  • DVS document check Passport · driver licence (all states) · Medicare · visa · citizenship cert · ImmiCard
  • Background data sources illion credit header · ASIC name search · tenancy file · address corroboration · data co-op
  • Biometric face match + liveness OCR document scan · facial matching · liveness detection · deepfake signals
  • PEP & sanctions screening DFAT consolidated list · UN sanctions · OFAC · domestic and foreign PEPs
  • Ongoing monitoring Annual PEP & sanctions rescreen · periodic review triggers · risk-level monitoring schedule
AUSTRAC OBLIGATIONS MET
  • Customer identification — document verified against DVS
  • Identity corroboration — background sources cross-check name and address
  • Biometric assurance — face match confirms person behind document
  • Sanctions and PEP screening — DFAT, UN, OFAC lists checked
  • Ongoing CDD — annual rescreen + periodic review schedule enforced
  • EDD-ready — biometric result feeds into enhanced CDD workflow
  • Full audit record — biometric result, confidence score, date stored
Available via the Waive platform for Waive clients
Entry Level Low risk

Verify

DVS + PEP & Sanctions

Document-based identity verification with mandatory sanctions and PEP screening. Meets AUSTRAC minimum CDD for low-risk individual clients.

$ 6 per verification
excl. GST
WHAT'S INCLUDED
  • DVS document check Passport driver licence (all states) · Medicare · visa · citizenship cert · immiCard
  • PEP & Sanction screening DFAT consolidated list · UN sanctions · OFAC · domestic and foreign PEPs
AUSTRAC OBLIGATIONS MET
  • Customer identification — document verified against DVS
  • Sanctions screening — DFAT, UN, OFAC lists checked
  • PEP screening — domestic and foreign PEPs
  • Audit record — date, result, document type stored
Available via the Waive platform for Waive clients

7-year audit record

Every verification result, document type, biometric score and screening outcome is stored automatically. Regulator-ready export available at any time.

Risk-triggered automatically

The Waive risk engine selects the appropriate search based on client risk score. You can always override manually — the system defaults to the safer option.

Ready before 1 July 2026?

Don't wait until the deadline.

Start your AML program today with Waive. Get Every Austrac obligation covered - identity verification, screening, risk routing, SMRs and a 7 year audit trail - in one platform.

Start your AML Program View verification pricing
Audit-ready from day one Build for Australian accountants Every AUSTRAC obligation covered