Reapit Verify and AML Compliance: What It Covers — and What It Doesn't
Reapit Verify handles identity checks but not your full AML/CTF program. Here's what it covers, what it doesn't, and what Reapit users need to do before 1 July 2026.
Reapit Verify and AML Compliance: What It Covers — and What It Doesn't
If you use Reapit as your agency CRM, you've probably heard about Reapit Verify. It launched in May 2026 and promises to handle AML/CTF compliance built right into your existing platform — no extra software, no new logins.
That sounds like the whole problem solved. So let's talk about what Reapit Verify actually does, what it doesn't do, and whether it's enough to satisfy your Tranche 2 obligations before 1 July 2026.
What Reapit Verify covers
Reapit Verify is a customer due diligence (CDD) tool. It handles the identity checks you're required to run before a transaction — verifying who your client is, running them against due diligence databases, and flagging elevated-risk clients for review.
Specifically, Reapit Verify covers:
- Identity verification — digital ID checks for buyers and sellers
- Due diligence data — access to due diligence databases to confirm identity details
- Risk assessment at the client level — automated risk rating for individual clients
- Automatic escalation — flags high-risk clients for further review
If you're a Reapit customer, you pay no additional platform fee. You pay per check. For agencies whose main AML concern is "how do I verify clients without a paper form", Reapit Verify solves a real problem.
What Reapit Verify doesn't cover
Here's where it gets important. AUSTRAC Tranche 2 requires real estate agencies to do more than run identity checks. The obligations are broader, and identity verification is just one part of a compliance program — not the program itself.
Reapit Verify does not cover:
| Obligation | Reapit Verify | Required by AUSTRAC? |
|---|---|---|
| Identity verification / CDD | ✅ Yes | Yes |
| AML/CTF Program document | ❌ No | Yes — written, approved, reviewed |
| Risk assessment (business-level) | ❌ No | Yes — covers customers, services, channels, geography |
| Staff training records | ❌ No | Yes — all staff must complete AML training |
| Compliance officer appointment | ❌ No | Yes — named in your program |
| Ongoing transaction monitoring | ❌ No | Yes — re-screening existing clients |
| Suspicious Matter Report (SMR) drafting | ❌ No | Yes — required when suspicious activity detected |
| Threshold Transaction Reports (TTR) | ❌ No | Yes — cash transactions over A$10,000 |
| 7-year record keeping | ❌ No | Yes — all CDD and compliance records |
| AUSTRAC enrolment | ❌ No | Yes — must be enrolled before 1 July 2026 |
This is not a criticism of Reapit Verify — it's a CDD tool, and it does that well. But CDD is one obligation inside a program that has seven distinct components. Running identity checks without the surrounding program in place is like having working fire extinguishers but no evacuation procedure. The extinguishers matter — but they're not your whole fire safety plan.
Your AML/CTF program is the document that ties everything together. It's what AUSTRAC will ask to see if they audit you.
The question agencies are now asking
Since Reapit Verify launched, we've seen a clear pattern: agencies who use Reapit are asking whether Verify is all they need.
The honest answer is no — but that's not a knock on Reapit. It was never intended to replace a compliance program. It's designed to plug into your existing workflow and handle the identity check step faster and more reliably than a manual process.
Your CRM can handle ID checks. AML Simple handles the rest of your program.
If you want to understand what a full AML program looks like and what AUSTRAC actually expects to see, that's where to start.
How CRM-native tools and dedicated AML platforms fit together
There's no requirement that your compliance tools all come from the same vendor. Many agencies will use Reapit Verify for identity checks as part of their client workflow, and use a separate platform to:
- Generate and maintain their AML/CTF program document
- Run and store business-level risk assessments
- Track staff training completion
- Monitor existing clients on an ongoing basis
- Draft and store Suspicious Matter Reports
AML Simple is built to cover all of those gaps — the parts of your Tranche 2 obligation that no CRM tool currently addresses. See how CRM tools fit into (but don't replace) your AML compliance setup.
What to do if you're a Reapit user
- Check your AUSTRAC enrolment status. Your agency must be enrolled before 1 July 2026 regardless of which tools you use.
- Build your AML/CTF program document. This is not something Reapit Verify produces. You need a written program that covers your risk assessment, policies, procedures, and controls.
- Record your staff training. Every member of staff who could be involved in a designated service needs to complete AML/CTF training before July 1.
- Set up ongoing monitoring. Reapit Verify checks clients at the point of transaction. AUSTRAC also requires you to re-screen existing clients on a regular basis.
AML Simple generates your program document, tracks training, and runs ongoing monitoring — alongside (not instead of) whatever identity verification tool you already use.
This content is general information only and does not constitute legal or AML/CTF advice. AML obligations vary by business size, service type, and risk profile. Consult a qualified AML/CTF specialist for advice specific to your agency.
Take the free readiness check to see exactly which obligations your agency has met and which gaps remain before 1 July 2026: amlsimple.com/check