Australia's independent guide to AML compliance software.

In each service category and sector, one provider can be our Founding Partner. They pay us for introductions, so they're highlighted and labelled in your results, and they're the only provider in that category we pass your details to, and only if you ask. Every other matching provider is still shown, ranked by fit, with their direct contact details.

If you operate in legal services, accounting, real estate, bookkeeping, financial services, or precious metals and stones, and you provide a 'designated service' as defined in section 6 of the AML/CTF Act 2006, then Tranche 2 obligations apply to you since 1 July 2026. The Act captures specific activities — managing client funds, real estate transactions, company formation, dealing in bullion above thresholds — not entire professions, so a firm can have a mix of in-scope and out-of-scope work. AUSTRAC's published impact analysis estimates approximately 100,000 Australian businesses are newly captured. The fastest way to confirm your position is the free 3-minute risk assessment, which maps your services to the designated-service list.

Most CompareAML providers can stand up a basic AUSTRAC Tranche 2 aligned program in 2–4 weeks of elapsed time, broken into three phases: AUSTRAC enrolment and risk assessment (week 1), program documentation and CDD onboarding (weeks 2–3), and staff training plus first-customer dry-run (week 4). Larger or multi-jurisdiction firms typically need 6–8 weeks, and law firms with complex trust account structures sit at the upper end of that range. Time still matters because AUSTRAC's supervisory posture tightens the longer a captured firm operates without a defensible program.

Indicative pricing across the 28 reviewed providers on CompareAML ranges from A$0 to A$2,500+ per month for fully managed services. The largest band — self-serve subscriptions for SMEs that will run AML in-house — sits between A$129 and A$650 per month, with pay-per-check screening tools (NameScan, StackGo) charging per ID verification rather than a monthly fee. Mid-market configurable platforms (AMLHUB, Complispace) range A$700–A$2,000/mo, and enterprise quote-based deployments (First AML, Equifax) are priced per implementation. Add 30–80 hours of internal time for documentation, training and onboarding regardless of which provider you choose. See the compare page for the band-by-band breakdown. Prices last checked: [date to confirm]

Up to about A$36.4 million per contravention for companies and A$7.28 million for individuals (from 1 July 2026). AUSTRAC can also issue enforceable undertakings, remedial directions, and infringement notices, and contraventions are publicly reported. Tranche 1 enforcement history shows penalties scale rapidly with the volume of contraventions: A$1.3 billion against Westpac in 2020 and A$700 million against the Commonwealth Bank in 2018. AUSTRAC began issuing section 167 notices to unenrolled businesses in August 2026.

Providers vary on five dimensions that matter most for SME buyers: (1) product type — full suite, screening only, GRC platform, managed service, or practice-management add-on; (2) sector focus — some specialise in legal, others span 4–5 sectors; (3) pricing model — flat monthly subscription, pay-per-check, or quote-based; (4) support model — pure self-serve, configured implementation, or outsourced AML officer; and (5) onboarding speed (1 week through to 8 weeks). The /compare page shows all 28 providers across 10 criteria side-by-side, and individual provider pages add features, integrations, case studies and pricing tiers. The right answer almost always depends on whether you want to run AML in-house with software (self-serve) or have it run for you (managed).