Name: AML Simple
Brand: AML Simple
Price: 79.00 AUD
Availability: InStock

Question 1

Do real estate agents actually need an AML tool?

Accepted Answer

From 1 July 2026, yes. Under AUSTRAC's Tranche 2 reforms to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act), real estate agents who act as an intermediary in the purchase or sale of real property become a 'reporting entity'. As a reporting entity, you are required to: enrol with AUSTRAC, develop and maintain an AML/CTF program, conduct customer due diligence (CDD) on buyers and sellers, screen clients against DFAT's sanctions list, report suspicious matters to AUSTRAC, lodge annual compliance reports from March 2027, and keep records for seven years. A compliance tool is not strictly required by law — but the obligations are complex enough that most agencies will need one to manage them without a full-time compliance officer. AML Simple is a workflow tool that helps you meet these obligations. It does not provide legal advice.

Question 2

What's the difference between KYC and a full AML/CTF program?

Accepted Answer

KYC (Know Your Customer) or identity verification is one part of your AUSTRAC obligations — confirming who your clients are. A full AML/CTF program is much broader: it includes your written program document (outlining your risk assessment, policies, and procedures), staff training, transaction monitoring, suspicious matter reporting (SMRs), threshold transaction reporting (TTRs), and annual compliance reporting. Several tools in this comparison — including APLYiD and VerifiMe — provide excellent identity verification but not the full program stack. If you use one of those tools, you will still need to build and maintain your AML/CTF program document and meet your other obligations separately.

Question 3

Can I just use a spreadsheet?

Accepted Answer

Technically, a spreadsheet can store CDD records. What it cannot do: screen against the DFAT Consolidated Sanctions List (which requires daily-updated data), run electronic identity verification, generate a compliant AML/CTF program document, produce audit-ready records, or alert you when a client's risk profile changes. For very small agencies with minimal client volume, a manual process is possible under the rules — but AUSTRAC expects your AML/CTF program to be documented and your controls to be adequate for your risk profile. Most agencies will find that a purpose-built tool is the only practical way to meet all their obligations without significant overhead.

Question 4

What does AUSTRAC actually require from real estate agencies?

Accepted Answer

Under the AML/CTF Act 2006 and AUSTRAC's Tranche 2 rules (effective 1 July 2026), real estate agents who are 'reporting entities' must: (1) enrol with AUSTRAC before commencing designated services; (2) develop a written AML/CTF program covering your risk assessment, policies, and procedures; (3) conduct customer due diligence (CDD) — identifying and verifying the identity of buyers, sellers, and beneficial owners; (4) screen all clients against DFAT's Consolidated Sanctions List; (5) report suspicious matters (SMRs) to AUSTRAC; (6) report threshold transactions (TTRs) for cash transactions of A$10,000 or more; (7) lodge an Annual Compliance Report from March 2027; and (8) keep records for seven years. AUSTRAC has published a Program Starter Kit specifically for real estate agencies — this outlines the recommended structure for your AML/CTF program document.

Question 5

How do I choose between these tools?

Accepted Answer

Start with three questions: First, does the tool help you build your AML/CTF program document, or does it only handle identity verification? If your tool can't generate a program, you're only partially compliant. Second, is pricing transparent and predictable at your client volume? Some tools charge per verification, which adds up quickly during busy selling periods. Third, is the tool built for real estate workflows, or adapted from financial services? Real estate has specific requirements — trust buyers, SMSFs, auction-day delayed CDD, dual-role agency structures — that generic KYC tools may not handle well. AML Simple was built from the ground up for Australian real estate agencies. But we're a competitor writing this guide, so we'd encourage you to test any tool on the Foundation (free) tier before committing.

Question 6

Is this comparison fair to competitors?

Accepted Answer

We've done our best to represent each tool accurately using publicly available information as at May 2026. We have a financial interest in this comparison — we're AML Simple, not a neutral reviewer. Some vendors (particularly TrustSoft and AML Square) have limited public information; we've noted where data is unconfirmed rather than inventing scores. Features and pricing change: verify with each vendor before committing. If you believe anything here is inaccurate, email us at hello@amlsimple.com and we'll update it.

Question 7

What makes AML Simple different from other tools on this list?

Accepted Answer

A few things stand out: First, our AML/CTF Program Generator is guided — we ask the right questions about your agency and generate a document consistent with AUSTRAC's own Program Starter Kit structure. Other tools auto-generate or assume you already have a program. Second, we include an AI compliance assistant (AML Simple Ask) that lets you ask compliance questions in plain English, at any time — no other real estate AML tool offers this. Third, every paid plan includes unlimited clients — no per-client caps, no IDV quotas on the client count. Fourth, we're purpose-built for Australian real estate from day one — not adapted from a banking or NZ-first product. We're a tool, not an adviser: AML Simple helps you run your compliance workflows, but the decisions are always yours.

Tool	Built for AU RE?	Tranche 2 program generator	KYC / screening	Pricing transparency	Self-serve onboarding	Notes
AML SimpleUs	Yes — purpose-built for AU RE agencies, AUSTRAC Tranche 2 from day one	Yes — guided wizard consistent with AUSTRAC Program Starter Kit	Yes — eIDV + DFAT sanctions screening; unlimited clients on paid tiers	Yes — from A$79/mo; free tier available; plans public on website	Yes — instant signup, no sales call, paid plans free until 1 July 2026	Independent, self-serve. Unique: AI compliance assistant (AML Simple Ask) included on all plans.
First AML	Partial — enterprise-grade platform originally built for NZ; AU real estate via easyAML.com.au acquisition	Yes — program documentation tools included	Yes — comprehensive KYB/KYC, biometric verification, ongoing monitoring	No — quote-based; minimum ~400 verifications/year; no public pricing	No — requires sales process; best suited to larger agencies or groups	Strong choice for enterprise or multi-office groups. easyaml.com.au now redirects here.
AMLTranche	Yes — built for AU real estate specifically	Yes — auto-generated (not guided); faster, but less tailored to your agency	Yes — IDV included by tier; Solo plan capped at 5 verifications/month	Partial — Solo at A$59/mo; Team at A$99/mo; IDV cap on entry tier	Yes — self-serve signup available	Capped verifications on Solo tier can be restrictive. Auto-generate vs guided wizard is a key difference.
AML Square	Yes — focused on AU real estate sector	Yes — program documentation included	Yes — ID verification and screening tools included	Partial — pricing available on enquiry	Partial — contact for onboarding	Newer entrant; limited independent reviews available as of early 2026.
AMLHUB	Partial — established in NZ; entering AU market; not purpose-built for AU RE	Yes — program tools available	Yes — strong KYC/KYB, trust and entity screening	No — no public AU pricing; quote-based	Partial — primarily sales-led in AU market	Strong NZ track record. AU real estate is an expansion market, not the core use case.
TrustSoft	Partial — broad compliance platform; not RE-specific	Contact for details	Yes — identity verification and AML screening	No — quote-based; no public pricing	No — implementation required	Enterprise-oriented. Better suited to financial services or larger compliance teams.
APLYiD	Partial — ID verification specialist used in property; not a full AML program tool	No — APLYiD provides identity verification only, not AML/CTF program generation	Yes — strong eIDV; used by some RE agencies for client verification	Partial — pricing on website for some tiers	Yes — self-serve signup available	Verification is step 1. APLYiD does not provide the AML/CTF program, staff training, SMR drafting, or TTR tracking AUSTRAC requires.
VerifiMe	Partial — identity verification platform used across industries including property	No — identity verification focus; no AML/CTF program generation	Yes — eIDV, document verification, liveness checks	Partial — starter pricing available; higher tiers by quote	Yes — self-serve available for basic tiers	Like APLYiD, VerifiMe handles verification but not the full AUSTRAC compliance program obligation. Agencies using VerifiMe still need a separate AML/CTF program.

Best AML tools for Australian real estate agencies (2026)

What AUSTRAC Tranche 2 requires from real estate agencies

Enrol with AUSTRAC

Build an AML/CTF program

Conduct customer due diligence

Screen against sanctions lists

Report suspicious matters (SMRs)

Keep records for 7 years

8 AML tools compared — honest assessments

AML Simple

First AML

AMLTranche

AML Square

AMLHUB

TrustSoft

APLYiD

VerifiMe

Where AML Simple is stronger — and where competitors are

Where AML Simple is differentiated

Where competitors are stronger

Frequently asked questions

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