(Part 3 of 3)
The Challenge of AML/CTF Compliance
With Australia’s Tranche 2 AML/CTF Reforms coming into effect, many accounting firms are wondering: How do we ensure compliance without overloading our team with administrative work?
The good news? Technology and expert guidance can make compliance far more manageable.
RegTech: The Smart Approach to AML Compliance
Traditional AML compliance can be time-consuming, but RegTech (Regulatory Technology) solutions automate key processes, saving your firm time and reducing human error.
FeeSynergy’s AML Compliance Platform includes:
- Biometric verification – Facial recognition with liveness detection
- Optical character recognition (OCR) – Automated ID document scanning
- Real-time data verification – Checking IDs against government databases
- AML/CTF screening – Politically Exposed Persons (PEP) and sanctions checks
- Comprehensive reporting – Centralised dashboards for compliance tracking
Why Expert Guidance Matters
Implementing an AML/CTF Program isn’t just about technology—it requires expert-led program development, staff training, and ongoing support. That’s why FeeSynergy has partnered with One AML, a leading AML/CTF consultancy.
- Tailored AML/CTF Programs – Designed for your firm’s risk level and services
- National compliance frameworks – For multi-office accounting groups
- Ongoing training & support – Keeping your staff informed and compliant
Final Thoughts: Take Action Now
Compliance deadlines are approaching fast. If your accounting firm provides designated services, you must be ready by 1st July 2026.
Next Steps:
- Assess if your firm falls under AML/CTF obligations
- Start building your AML/CTF Program (risk assessment, policies, procedures and controls)
- Leverage RegTech solutions to streamline compliance
- Get expert support to ensure compliance before the deadline
By acting now, you can avoid penalties, protect your business, and ensure a seamless transition into AML/CTF compliance.
Need Help? Contact FeeSynergy to explore AML compliance solutions tailored for accounting firms.
For more information from AUSTRAC, please click here.
