Content sourced from and aligned with AUSTRAC guidance and regulatory requirements.
Two Platforms. One Mission: Simplifying AML/CTF Compliance
From customer due diligence to commercial transactions — iDeedworks delivers AUSTRAC-aligned digital solutions for reporting entities.
ARCaml AML/CTF Compliance
Customer Due Diligence Platform
Outsource your CDD obligations to our AUSTRAC-aligned platform. We handle KYC/KYB verification, PEP & sanctions screening, beneficial ownership checks, and ML/TF risk assessments — so you can focus on your clients.
- For accountants, lawyers, real estate & TCSPs
- Tranche 2 ready — July 2026 compliant
- 7-year compliant record keeping
ARCgx Bank Guarantees
Digital Bank Guarantee Platform
Transform how you manage bank guarantees. Real-time tracking, instant issuance and amendments, and complete audit history replace paper-based processes that slow down commercial transactions.
- For banks, beneficiaries & applicants
- Issue & track guarantees in real-time
- Secure, tamper-evident digital storage
Why AML/CTF Compliance Demands More Than Spreadsheets
Australia's anti-money laundering and counter-terrorism financing landscape is shifting. AUSTRAC requirements for customer identification, beneficial owners verification, and ML/TF risk management are now mandatory.
80K+
New reporting entities from July 2026
$22M+
Maximum penalty per contravention
7 Years
Record retention requirement
24/7
Ongoing monitoring required
New Regulatory Framework
- AML/CTF Amendment Act 2024 — Sweeping changes to customer identification & risk assessment
- AML/CTF Rules 2025 — Updated CDD, transaction monitoring & reporting requirements
- Tranche 2 (July 2026) — Lawyers, accountants, real estate agents now regulated
Customer Due Diligence Steps
- 1 Identify & verify customers (KYC/KYB)
- 2 Determine beneficial ownership structures
- 3 Screen for PEPs & sanctions
- 4 Assess ML/TF risk levels
- 5 Continuously monitor throughout relationship
Why Spreadsheets & Manual Processes Fail
Look, spreadsheets were fine when compliance was about checking boxes. But that was then. Now you're dealing with:
Verify source of funds
Detect foreign PEPs
Apply EDD measures
And here's the kicker: AUSTRAC knows it. That $22.2 million penalty ceiling? They mean it.
That's where iDeedworks comes in.
See How ARCaml HelpsAML/CTF Obligations Now Extend to Gatekeeper Professions
If you're a lawyer, accountant, or real estate agent, Tranche 2 is about to change your world. From July 1, 2026, you'll be playing by the same rules as banks. Same scrutiny. Same penalties. Same AUSTRAC oversight. Never dealt with customer due diligence before? You're about to.
Residential, commercial & leasing
Real Estate
Agents | Property managers | Trust accounts | High-value purchases
Explore compliance steps
Property & financial matters
Lawyers & Conveyancers
Conveyancing | Settlement agents | Trust monies | Complex structures
Explore compliance steps
Client funds & entity formation
Accountants & Auditors
Advisory services | Company/trust setup
Explore compliance steps
Lenders, Gaming & Gambling & Other AUSTRAC Reporting Entities
Other Reporting Entities
Non-bank lenders | Gambling services | Financial service providers
Explore compliance steps
High-value transactions
Gem & Precious Metals
Bullion dealers | Jewellers | Second-hand precious goods | Cash-intensive trade
Explore compliance steps
These professions are considered "gatekeepers" because criminals can exploit their services to layer illicit funds or create complex ownership structures that obscure the proceeds of crime. If you provide designated services with a geographical connection to Australia, you must enrol with AUSTRAC, develop an AML/CTF program, appoint a compliance officer, and conduct customer due diligence on every client.
Complete AML/CTF Compliance Platform Built for Australian Businesses
ARCaml
Customer Due Diligence Platform
ARCaml handles the heavy lifting of customer due diligence so you can focus on serving your clients. Through a structured CDD Outsourcing Agreement, we manage the verification processes that AUSTRAC expects while you retain oversight and control.
Initial Customer Due Diligence
- Customer identification and verification (KYC)
- Business verification (KYB) - ABN/ACN, structure
- Beneficial owner identification
- PEP and sanctions screening
- ML/TF risk assessment
Enhanced Due Diligence
- Additional verification for higher-risk customers
- Source of funds and wealth verification
- Senior management approval workflows
- Enhanced monitoring for PEPs
Ongoing Monitoring & Records
- Continuous customer monitoring
- Automated sanctions & adverse media alerts
- AUSTRAC-compliant record retention
- Complete audit trail for every decision
ARCgx
Digital Bank Guarantee Platform
ARCgx transforms how businesses manage bank guarantees. Real-time tracking, instant issuance and amendments, and complete audit history replace the paper-based processes that slow down commercial transactions.
For Applicants
- Digital guarantee issuance workflow
- Instant amendments and extensions
- Complete audit trail and compliance
For Beneficiaries
- Real-time guarantee status tracking
- Digital claim submission process
- Secure document access portal
- Automated expiry notifications
Digital Issuance & Lifecycle
Real-time Status Tracking
Tamper-evident Storage
Complete Audit Trail
Compliance Hub
AML/CTF Compliance Resources
Everything you need to know about Tranche 2 reforms and AUSTRAC compliance for Australian businesses
🎓
Getting Started
Essential compliance fundamentals
👥
Industry Guides
Sector-specific compliance guidance
🔍
Key Compliance Topics
Deep dives into AML/CTF requirements
📖
Definitions & Glossary
Key terms explained
AUSTRAC-Aligned Compliance You Can Actually Implement
iDeedworks isn't another generic compliance checkbox. We built ARCaml specifically for Australian AML/CTF obligations, aligned with AUSTRAC's regulatory guidance and the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
Built for the Australian regime — not adapted from US or UK frameworks, but designed ground-up for AUSTRAC requirements
Tranche 2 ready — specifically supporting accountants, lawyers, and real estate professionals entering the regime in July 2026
Trusted verification partners — integrated with IDVerse, SimpleKYC, and other AUSTRAC-compliant identity verification providers
Australian data sovereignty — customer data stays in Australia on AWS infrastructure
Ongoing regulatory updates — as AUSTRAC releases new guidance and rule changes, ARCaml evolves to match
CDD outsourcing model — reduce your compliance workload while maintaining accountability through our structured agreement
Common Questions About AML/CTF Compliance & Customer Due Diligence
Everything you need to know about AUSTRAC obligations, politically exposed persons (PEP) screening, beneficial owner identification, source of funds verification, and your AML CTF program requirements.
What is Customer Due Diligence (CDD)?
Customer due diligence is the process of understanding who your customers are before providing them with designated services and throughout your business relationship. CDD involves collecting and verifying customer identification, identifying beneficial owners, screening for politically exposed persons and sanctions, assessing money laundering and terrorism financing risks, and maintaining appropriate records. Under Australian law, you must complete initial CDD before providing a designated service and conduct ongoing CDD throughout the relationship.
What is Enhanced Due Diligence (EDD) and when is it required?
Enhanced due diligence means taking additional verification steps for higher-risk customers. You must apply EDD when dealing with politically exposed persons, customers from high-risk jurisdictions, complex ownership structures, or when you've identified unusual transactions that may require a suspicious matter report. EDD measures include verifying source of funds, obtaining senior management approval, and increasing monitoring frequency.
What is a Politically Exposed Person (PEP)?
A politically exposed person holds or has held a prominent public function, whether domestically or internationally. This includes heads of state, senior politicians, judicial figures, military leaders, and executives of state-owned enterprises. PEP status extends to their family members and close associates. Because of their position and influence, PEPs present elevated bribery and corruption risks that require enhanced due diligence measures throughout the business relationship.
When do the Tranche 2 AML/CTF reforms take effect?
Tranche 2 AML/CTF obligations commence on 1 July 2026 for newly regulated professions including accountants, lawyers, conveyancers, real estate agents, and dealers in precious metals and stones. Enrolment with AUSTRAC opens from 31 March 2026, and newly regulated entities must enrol by 29 July 2026. AUSTRAC expects businesses to begin preparation well before the commencement date.
What are the penalties for AML/CTF non-compliance?
AUSTRAC can impose civil penalties up to $22.2 million per contravention for corporations and substantial penalties for individuals. Criminal penalties including imprisonment apply for serious breaches. Beyond financial penalties, non-compliance can result in reputational damage, loss of professional licences, and exclusion from the financial system. The recent Westpac enforcement action demonstrated AUSTRAC's willingness to pursue significant penalties.
What records must I keep for AML/CTF compliance?
Reporting entities must keep records demonstrating how they established customer identity, assessed ML/TF risk, conducted ongoing monitoring, and made decisions throughout the CDD process. Records must be retained for seven years after the business relationship ends and must be readily accessible if requested by AUSTRAC. This includes identity documents, verification results, risk assessments, and any enhanced due diligence measures applied.
Ready to Simplify Your AML/CTF Compliance & Customer Due Diligence?
Whether you're an existing reporting entity adapting to the new AML/CTF Rules or a gatekeeper profession preparing for Tranche 2 in July 2026, iDeedworks has the tools to make compliance manageable.
Subscribe to ARCaml and let us handle your customer due diligence, or contact our team to discuss your specific compliance requirements.
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