AML/CTF compliance
Risk-based AML verification
For most accounting firms, you do not need to run every available verification for every client. AML/CTF laws require a risk-based approach — perform enough checks to identify the client, understand the risk, and screen for sanctions/PEPs.
- From AUD $6.68 per individual client
- Only pay for the checks you run
Required
Verification types by requirement level: required
Identity Verification
Verify the individual's identity. This is the core KYC requirement.
ASIC Organisation Verification
Confirms the company exists and registration details.
ABR Lookup
Verifies ABN/business details. Free, so there's little reason not to use it.
Multi-level UBO Report
Identifies the Ultimate Beneficial Owners, a key AML requirement.
PEP & Sanctions Screening
One of the most important AML/CTF checks.
Optional
Verification types by requirement level: optional
Watchlist Screening
Usually included with PEP/Sanctions.
DVS Verification
Helps verify Australian identity documents with government records.
Biometric Verification
Improves fraud prevention but isn’t legally required in most cases.
Liveness Check
Used to prevent spoofing during online identity verification.
eKYC Verification
Depends on provider. Often this includes identity, DVS and document verification.
Not usually required
Verification types by requirement level: not usually required
VEVO Check
Verify the individual's identity. This is the core KYC requirement.
International Document Check
Needed only for overseas identity documents.
Pass Rate Booster
Provider feature, not an AML requirement.
PEP Media Screening
Helpful for enhanced due diligence but not required for every client.
Standard low-risk verification
Individual client: AUD $6.68 per client
COST BREAKDOWN: Identity Verification, DVS Verification (if Australian ID), and PEP & Sanctions Screening for a standard individual client.
- Identity Verification — $5.00
- DVS Verification (if Australian ID) — $1.02
- PEP & Sanctions Screening — $0.66
- = AUD $6.68 per client
Company tax return 2026
Harbour Coffee Pty Ltd
Entity and UBO verification
Company Client
REQUIRED CHECKS: ASIC Organisation Verification, ABR Lookup, Multi-level UBO Report, Identity Verification (per director/UBO), and PEP & Sanctions (per director/UBO). Note: More expensive because identifying and verifying beneficial owners is often the costliest part.
- COST BREAKDOWN
- ASIC Verification — $26.25
- DVS Verification — $57.00
- Multi-level UBO Report — $5.00
- PEP/Sanctions (per person) — $0.66
Profit & loss · FY2026
SPFRRecommended default AML module
Risk-based verification workflow
Recommended Default AML Module
- 01
Individual
Unlimited users. DVS (if Australian ID). PEP & Sanctions Screening.
- 02
Company
ASIC Verification. ABR Lookup. UBO Report.
- 03
Company people checks
Identity Verification for each beneficial owner/director. PEP & Sanctions Screening for each beneficial owner/director.
- 04
Escalate only when needed
Everything else can be treated as optional or triggered by a high-risk assessment.
Note
Everything else can be treated as optional or triggered by a high-risk assessment. That approach is typically sufficient for standard, low-risk accounting clients while still allowing firms to add enhanced due diligence when circumstances warrant it.
Verify your clients for less
Pay only for the checks you run. No platform fees.