TrustEasy will offer AML/CTF compliance Software for Accounting Firms for appx $1,200 pa ex GST.
Australian accounting firms must comply with new AML/CTF requirements from 1 July 2026, with enrolment at AUSTRAC opening 31 March 2026—this marks the start of Tranche 2 regulations targeting professional service providers. TrustEasy AML/CTF feature, already in beta testing, will help firms automate, streamline, and secure all key aspects of compliance, including client due diligence, policies, procedures, risk assessments, reporting and staff training. TrustEasy will offer stand-alone AML/CTF compliance module. AML/CTF subscription will be available for appx $1200 pa for beginners with up to five users with low-risk customers. What is the AML/CTF Requirements for Accounting Firms?
- Who must comply: Any firm providing “designated services” such as managing client funds, forming companies, nominee services, registered business address provision, or handling client financial transactions.
- Key deadlines:
- Enrol with AUSTRAC: From 31 March 2026
- Full compliance: Required from 1 July 2026
Required actions:
- Maintain a written AML/CTF compliance program.
- Appoint a compliance officer.
- Conduct robust client due diligence and ongoing monitoring (including KYC/ID checks).
- Submit regular reports to AUSTRAC (including suspicious matter reports and transaction reports).
- Train staff and undergo independent reviews.
- Make annual compliance declarations.
How TrustEasy Helps Accounting Firms Meet AML/CTF Compliance
TrustEasy is a cloud-based trust accounting platform designed specifically for Australian accounting firms to address all the new compliance requirements as follows:
Streamlined KYC and Proof of Identity
- Inbuilt KYC functionality ensures automated, cost-free client ID verification, aligning with AUSTRAC and ATO standards for low-risk clients.
Transaction monitoring via Bank Feeds, Payments, and recording of suspicious activities
- Optional Automatic bank feeds and reconciliation tools track all client transactions, supporting thorough audit trails and compliance accuracy.
- Reporting tools for users to record suspicious activities.
Document Generation and Reporting
- Effortlessly generates all the required reports to satisfy auditor and regulator demands.
Secure Data Handling
- Multi-factor authentication, data encryption, and masking protect client information (TFNs, bank account numbers), fulfilling privacy and security requirements.
- Cloud accessibility ensures up-to-date compliance anywhere.
Integration with Practice Software
- Links with XPM, Access Practice Manager and .csv import from MYOB, HandiSoft and other key CRMs and tax platforms for smooth data flow.
Staff Training and Oversight
- Dashboards and training tools provide oversight of compliance status and allow easy reporting for regular reviews.
Key Benefits for Accounting Firms
- Automated compliance: Reduces manual tasks, error rates, and compliance costs.
- Ready for audit: Real-time reporting and documentation designed to address AUSTRAC and auditor requirements.
- Security: Meets the most stringent data protection standards required by regulators.
- User friendly: Intuitive workflows save time and reduce the compliance burden on staff.
TrustEasy offers a robust, all-in-one solution to ensure accounting firms transition smoothly and confidently into the AML/CTF Tranche 2 era, with secure, automated tools making compliance as seamless as possible.
TrustEasy will be the only cloud-based software in Australia that can manage trust accounting and/or AML/CTF requirements at one place.
