FreeAML launches No Subscription, Client-pays AML compliance platform

FreeAML has launched its AML/CTF compliance platform for Australian businesses covered by AUSTRAC Tranche 2 rules. The Melbourne company set the launch for 2026, the same year the new obligations start. More than 300 firms already use the platform.

Firms email a client a secure verification link. The client verifies their ID with a government document checked against official records and a biometric selfie, then pays for the check on their card, or the firm can pay instead. The firm receives an audit-ready CDD report. Checks cost $20 per individual and $40 per entity, with no signup and no monthly subscription, so a month without checks costs nothing. Firms can add a service charge on client-pays checks and keep it as revenue once their bank account is connected. The platform verifies individuals, companies, trusts and SMSFs, including trust deeds and beneficial owners at 25 percent or more. Full CDD covers PEP, sanctions and adverse media screening, and watchlist screening continues after the check, with a notice if a client's status changes. Alongside the checks, FreeAML includes an AML/CTF program generator, a risk assessment that produces a report for the compliance file, four staff training modules with quizzes and certificates through its AML Academy, SMR and TTR report preparation for lodgement in AUSTRAC Online, a dashboard and an append-only audit trail with evidence pack exports in one ZIP file. One login switches between workspaces for accountants and multi-office agencies.

AUSTRAC enrolment opens on 31 March 2026 and compliance becomes mandatory on 1 July 2026. Reporting entities must enrol, appoint a compliance officer, publish a written AML/CTF program, verify every client before providing a designated service, monitor clients, report, train staff and keep an audit trail. Civil penalties are set in penalty units, up to 100,000 penalty units for a body corporate and up to 20,000 penalty units for other persons, and individuals can also face criminal penalties including up to 2 years imprisonment. FreeAML is built for real estate agents, accountants, lawyers, agents, jewellers and dealers.

Firms can send a first verification request, read the Tranche 2 guide and use the compliance tools at freeaml.com.au.