There are about 30,000 accounting practices in Australia and roughly half will be in scope for at least some Tranche 2 obligations from 1 July 2026 — primarily firms doing company formation, SMSF and trust administration, or holding client money.
The three product categories you'll see
- Full-suite platforms (easyAML, AMLHUB, OverSEER, AML SmartGuard) — program documentation, CDD, monitoring and reporting in one tool.
- Specialist screening (NameScan, MemberCheck, WatchEye) — sanctions, PEP and adverse media, designed to plug into your existing program.
- Specialist CDD (First AML, StackGo) — best-in-class identity and beneficial ownership for complex clients.
Questions to ask in your first call
- Does the program documentation include the designated services I actually provide?
- Is electronic ID verification priced into the subscription, or pay-per-check?
- How does the platform handle SMSF trustees, discretionary trust beneficiaries, and corporate clients?
- Is there a workflow for reviewer/approver sign-off on high-risk onboardings?
- Can I export an audit pack on demand if AUSTRAC engages?
- What does support look like in business hours and after hours?
- What happens to my data if I leave?
What 'free' really means
Some providers (notably easyAML) are genuinely free until 1 July 2026 — full platform access at no cost during the implementation ramp-up. Others use 'free trial' wording for what is functionally a sales process. Always read the conversion terms before you commit your client data to a tool.