We reviewed the leading AML/CTF software platforms so you don't have to. Find the right tool for your business size, budget, and profession.
We've highlighted the platforms best suited for accounting practices — with features like client onboarding automation, BAS-linked monitoring, and practice management integrations.
We've highlighted the platforms best suited for law firms — with features like trust account monitoring, matter-linked CDD, and legal privilege considerations.
We've highlighted the platforms best suited for real estate agencies — with features like property transaction CDD, buyer/seller verification, and agency workflow integration.
We've highlighted platforms suited for conveyancing practices — with settlement-linked CDD, party verification, and source-of-funds documentation.
We've highlighted platforms suited for financial advisory firms — with client portfolio CDD, source-of-wealth verification, and AFSL compliance integration.
We've highlighted platforms suited for mortgage brokers — with borrower verification, income-matching tools, and aggregator integration.
We reviewed the leading AML/CTF software platforms so you don't have to. Find the right tool for your business size, budget, and profession.
Short answer: No. AUSTRAC does not require you to use AML software. You can be fully compliant with manual processes — spreadsheets, templates, and careful record-keeping.
But software makes ongoing compliance much easier, especially if you're handling multiple clients or seeing volumes of transactions.
If you're a solo practitioner with fewer than 5 clients monthly, AMLPrep templates + a good filing system may be enough. But as you grow, software pays for itself in saved time.
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| Feature | easyAML | First AML | AMLHUB | VeriMe |
|---|---|---|---|---|
| Price Range | $179–999/mo | $200–500/mo | $99–299/mo | Per-use model |
| Free Trial | ✓ | — | ✓ | ✓ |
| CDD/KYC Tools | ✓ | ✓ | ✓ | ID only |
| Ongoing Monitoring | ✓ | ✓ | ✓ | — |
| Risk Assessment | ✓ | ✓ | ✓ | — |
| Document Storage | ✓ | ✓ | ✓ | — |
| SMR Filing Help | Partial | ✓ | Partial | — |
| Multi-user Access | ✓ | ✓ | ✓ | Limited |
| Australian-built | ✓ | NZ-based | ✓ | — |
| Tranche 2 Specific | ✓ | ✓ | ✓ | — |
| API Access | Pro+ | ✓ | — | ✓ |
You handle a handful of clients and want to keep costs low.
→ AMLHUB or manual processes + AMLPrep templates
Growing client base, need basic automation and team collaboration.
→ easyAML Starter or AMLHUB Professional
Scaling operations, need advanced features and reporting.
→ easyAML Professional or First AML
Handling trusts, companies, complex beneficial ownership chains.
→ First AML (workflow designed for this)
You've got a CDD process sorted; you just need to verify identities fast.
→ VeriMe (pay per check, no wasted subscription)
Many of these offer free trials. Try them before committing.
→ Take our course first to learn what you need
Start with our training course and templates — you can always add software later as you grow.
Explore AMLPrep CourseNo. AUSTRAC's rules don't require you to use specific software. You can be fully compliant with spreadsheets, templates, and a good filing system. However, software significantly reduces the time and risk involved in managing CDD, transaction monitoring, and record-keeping — especially as you scale.
Absolutely. Many users combine our templates with software. For example, you might use AMLPrep's risk assessment template to create your initial risk profile, then import data into software for ongoing monitoring. They complement each other well.
Yes, transparently. If you sign up for easyAML, First AML, AMLHUB, or VeriMe through our links, AMLPrep receives a small commission. This doesn't affect the price you pay or the quality of service you receive — it's simply how these providers compensate referral partners. We've recommended these platforms based on their functionality, Australian compliance focus, and value. We don't recommend software we don't believe in.
AMLHUB starts at $99/mo for solo practitioners. VeriMe uses a pay-per-check model, so if you only verify a few clients per month, it could be cheaper than any subscription. For basic compliance management on a tight budget, AMLHUB is your best bet.
easyAML and First AML are the most feature-rich, with advanced monitoring, reporting, and automation. First AML has a particular strength in handling complex client structures (trusts, family offices, corporate structures). easyAML is purpose-built for Australian Tranche 2 firms and offers the broadest range of features at mid-market prices.
We've focused on providers that either operate in Australia or are specifically configured for Australian compliance. International providers can work, but you may need to adapt workflows or manually handle AUSTRAC-specific requirements (SMRs, reporting thresholds, etc.). Australian-built solutions typically require less customization.
At least annually, or whenever your business changes significantly (e.g., headcount grows, client volume doubles, you move into a new profession). What works for a solo practitioner may not suit a 20-person firm.
Only if you're integrating AML tools with other systems (accounting software, case management, CRM). Most small to mid-size firms don't need it. If you do, easyAML (Pro tier), First AML, and VeriMe all offer API access.