BGL Firm Verify

AML/CTF and CDD compliance, simplified for accounting firms.
BGL Firm Verify brings together everything you need to meet your AML/CTF and CDD obligations under the Tranche 2 reforms in one simple, secure and audit-ready platform.

Australia’s biggest AML/CTF reform in 17 years

On 1 July 2026, Australia’s Tranche 2 reforms expanded the AML/CTF regime to include thousands of accounting firms for the first time.

Without the right systems in place, managing these requirements can quickly become time-consuming and complex.

That’s where BGL Firm Verify comes in.

Purpose-built for accounting firms, BGL Firm Verify brings your AML/CTF and CDD compliance together in one simple, secure platform.

Your core obligations:

Enrol with AUSTRAC
All designated service providers must be enrolled with AUSTRAC. Firms that have not yet enrolled should do so immediately.
Written AML/CTF Program
From day one, firms must document risk assessments, policies and procedures covering all regulated services.
Customer Due Diligence
Mandatory KYC, KYB, PEP screening and beneficial ownership verification for new and existing clients.
Ongoing Monitoring
Continuous transaction monitoring and suspicious matter reporting obligations apply from commencement.
Education and Training for Staff
Firms must ensure staff are trained to understand AML/CTF obligations and carry out their compliance responsibilities.

Everything you need to comply in one platform

Meet your KYC (Know Your Customer) and KYB (Know Your Business) obligations with confidence from day one. A guided onboarding workflow ensures nothing gets missed.

  • Verify individuals and entities with integrated ID checks powered by FrankieOne.
  • Map beneficial ownership across complex structures.
  • Automatically assign risk ratings based on your methodology.
  • Capture complete, compliant client records with sign-off workflows.

Compliance doesn’t stop at onboarding. Continuous monitoring keeps you ahead of risk.

  • Track review deadlines with automated reminders and alerts.
  • Trigger reviews when client circumstances change.
  • Monitor sanctions, PEPs (Politically Exposed Persons) and adverse media.
  • Maintain audit-ready records with full history and staff attribution.

Simplify complex AML requirements with a clear, consistent risk approach aligned with your AML/CTF Program.

  • Assess risk across client type, geography, services and more.
  • Apply consistent risk ratings with documented rationale.
  • Align risk settings to your AML/CTF Program.
  • Track every client through the full compliance lifecycle.
  • Export compliance reports and CDD records for AUSTRAC.

In future releases, BGL Firm Verify will connect with the BGL Suite and Ecosystem to further streamline compliance.

  • Sync data from CAS 360, Simple Fund 360 and Simple Invest 360.
  • Connect with onboarding, document and practice management tools.
  • Integrate with leading digital signing apps.

Reduce manual work and keep your team on track with built-in automation and alerts.

  • Automatically schedule reviews based on risk levels (coming soon).
  • Receive real-time alerts for sanctions and PEP matches.
  • Monitor adverse media with configurable thresholds (coming soon).
  • Assign tasks and approvals across your team.
  • View your full compliance status from a single dashboard.

Meet your Tranche 2 obligations with confidence using a solution designed specifically for accounting firms. 

  • Support for AUSTRAC enrolment and registration.
  • AML/CTF Program templates (Part A and Part B).
  • CDD and ECDD workflows for designated services.
  • Ongoing due diligence and transaction monitoring.
  • KYE module with police checks via Backy Check.
  • Staff training and compliance record tracking.

Three phases. One platform

Phase 1

Available Now

  • AML/CTF program builder
  • Firm risk assessment
  • Compliance officer register
  • Staff and personnel register
  • AML/CTF training courses
  • Interim CDD recording tool
  • Identity verification via BGLiD

Phase 2

Available Now

  • Client Management screen
  • Client Onboarding workflow
  • Initial CDD workflow
  • KYC verification (all tiers)
  • PEP and Sanctions screening
  • Personnel Due Diligence Wizard (PDD)
  • Audit Trail of all workflows
  • Bulk data import from interim client tool

Phase 3

What’s next

  • CAS 360 and Simple Fund 360 integration
  • KYB and UBO verification
  • Ongoing transaction monitoring
  • Suspicious matter reporting
  • AUSTRAC reporting
  • AI-powered risk narratives
  • Practice management integrations
  • Integration with OnboardMe
  • CDD public API

Pricing that scales with your practice

BGL Firm Verify is priced per entity, per year, billed monthly in arrears.

CDD entity fee $6 + GST per year per client*

*$6 + GST per year for each client you run a CDD workflow on, billed monthly at $0.50 + GST per billable client. The minimum is 25 clients a month ($12.50 + GST), charged every month including your first.

CDD entity fee $0.50 + GST per month per client*

**$6 + GST per year for each client you run a CDD workflow on, billed monthly at $0.50 + GST per billable client. The minimum is 25 clients a month ($12.50 + GST), charged every month including your first.

Choose your verification tier

Each verification check is charged per check, on the same monthly invoice as the entity fee.
Tier 1

KYC – Enhanced

$7 + GST per check

Document verification

PEP screening

Sanctions screening

Adverse media screening

Biometric verification

Tier 2

KYC – Adverse Media

$9 + GST per check

Document verification

PEP screening

Sanctions screening

Adverse media screening

Biometric verification

Tier 3

KYC – Complete

$10 + GST per check

Document verification

PEP screening

Sanctions screening

Adverse media screening

Biometric verification

Know your business checks

Comprehensive due diligence for corporate clients, beneficial owners, and complex structures.

Company

ASIC single organisation verification

$31 + GST per check

ASIC company extract

AML screening

ACN / ABN lookup

Ownership traversal

PEP & adverse media

Credit data

Multi-level UBO

Bundled multi-level
UBO report

$65 + GST per check

Full ownership mapping

Officers & directors

Direct owners & UBOs

PEP screening

Adverse media screening

Credit data

Credit reports & adverse data

Credit report, payment predictor & adverse data

$28 + GST per check

Credit score (current)

12-month payment history

Insolvency notices

Court judgements

Payment defaults

Ownership traversal

Trusts

Trust deed
analyser

$22 + GST per check

Trustee identification

Beneficiary identification

Trust structure analysis

AML screening

Credit data

Ownership traversal

Click here for full details on Firm Verify pricing and billing.

Contact us

Complete the form below and a BGL Team member will be in touch.

"*" indicates required fields

FAQs

Not all firms, only those providing designated services under the legislation. This includes services like company or trust formation, managing client funds or providing registered office addresses. If your firm provides any of these, you’ll need to comply. For more information, check out these resources:

Compliance has been required since 1 July 2026. There is no grace period, so your AML/CTF Program, systems and processes should already be in place. If your firm hasn’t started yet, now is the time to act.

If you’re captured under Tranche 2, your firm will need to:

  • Enrol with AUSTRAC:All designated service providers must be enrolled with AUSTRAC. If your firm hasn’t enrolled yet, you should do so immediately.
  • Written AML/CTF Program: From day one, firms must document risk assessments, policies and procedures covering all regulated services.
  • Customer Due Diligence: Mandatory KYC, KYB, PEP screening and beneficial ownership verification for new and existing clients.
  • Ongoing Monitoring: Continuous transaction monitoring and suspicious matter reporting obligations apply from commencement.
  • Education & Training for Staff: Firms must ensure staff are trained to understand AML/CTF obligations and carry out their compliance responsibilities.

No. BGL Firm Verify brings onboarding, risk assessment, monitoring and compliance tracking into one platform, reducing the need for separate systems.

Most AML tools are built for broad use cases. BGL Firm Verify is built specifically for accounting firms.

  • Purpose-built for accounting firms: Designed around real accounting workflows, not generic compliance processes.
  • Works your way: Use it as a standalone solution or connect it with the BGL Suite and Ecosystem to eliminate duplicate data and manual steps. 
  • Trusted by accountants: Developed by BGL, with 35+ years of experience delivering compliance solutions to accounting firms worldwide. 

Yes. BGL Firm Verify is designed to integrate with CAS 360, Simple Fund 360 and Simple Invest 360, allowing client and entity data to flow directly into your compliance workflows. This reduces re-keying and speeds up onboarding for clients you already manage.

Yes. BGL Firm Verify supports onboarding for new clients and ongoing monitoring and periodic reviews for existing clients, aligned with AML/CTF requirements.

BGL Firm Verify includes automated alerts and review workflows to help you stay compliant over time. This includes monitoring for sanctions, PEPs and adverse media, as well as tracking review deadlines and triggering updates when client details change.

Yes. BGL Firm Verify includes tools and templates to help you build your AML/CTF Program, including risk assessments, policies and documentation aligned to AUSTRAC requirements.

Yes. BGL Firm Verify allows you to configure risk factors, scoring and risk appetite settings to align with your firm’s AML/CTF Program.

Yes. BGL Firm Verify is designed to replace manual processes and disconnected tools with a single, structured compliance workflow, helping you manage AML/CTF obligations more efficiently and consistently.

Yes. BGL Firm Verify is designed for accounting firms of all sizes, with structured workflows and guidance that support both small practices and larger firms with more complex requirements.

Yes. BGL follows strict data security standards, including ISO 27001 certification, to ensure your client and compliance data is protected. For more information, visit the BGL Trust Centre.

Understanding AML/CTF
AML/CTF (Anti-Money Laundering and Counter-Terrorism Financing) Australia’s AML/CTF regime is governed by the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and regulated by AUSTRAC.
Tranche 2 The expansion of Australia’s AML/CTF regime to include accounting, legal and other professional service providers, which came into effect on 1 July 2026.
AUSTRAC (Australian Transaction Reports and Analysis Centre) Australia’s AML/CTF regulator and financial intelligence unit responsible for overseeing compliance.
Who needs to comply
Designated services Specific services defined under the AML/CTF Act that trigger compliance obligations.

For accounting firms, this can include services such as company or trust formation, managing client funds, providing registered office addresses and assisting with transactions involving business structures.

If your firm provides any designated services, you are considered a reporting entity under the AML/CTF regime. Learn more
Reporting entity A business that provides designated services and is therefore required to comply with AML/CTF obligations, including enrolment with AUSTRAC, customer due diligence and ongoing monitoring.
Key compliance requirements
AML/CTF Program A documented framework outlining how your firm identifies, manages and mitigates AML/CTF risk.

It includes your risk assessment, policies, procedures and controls and must be tailored to your business.
CDD (Customer Due Diligence) A mandatory process requiring businesses to identify, verify and understand their clients before providing designated services.
Ongoing due diligence (ongoing monitoring) The process of continuously monitoring client activity, transactions and behaviour to identify unusual or suspicious activity and updating client information to ensure it remains accurate and consistent with your risk assessment.
Identity and verification
KYC (Know Your Customer) A mandatory process requiring businesses to verify the identity of individual clients and assess their risk under the AML/CTF regime.
KYB (Know Your Business) A process used to verify the legitimacy, ownership structure and risk profile of business clients.
Verification A process used to verify a client’s identity or business information, including document verification, biometric checks and sanctions or PEP screening.
Risk and assessment
Risk-based approach A compliance approach where the level of due diligence and monitoring applied to a client is based on their level of risk.

Higher-risk clients require enhanced due diligence, while lower-risk clients require a simpler approach.
Risk assessment The process of identifying and evaluating AML/CTF risk across your firm, clients and services.
Risk rating A classification (e.g. low, medium or high) that is assigned to a client based on their level of risk.
ECDD (Enhanced Customer Due Diligence) Additional due diligence required for higher-risk clients, such as PEPs or clients in high-risk jurisdictions.

This may include deeper identity checks, source of wealth verification and increased monitoring.
Ownership and control
Beneficial owner An individual who ultimately owns or controls a client entity, typically holding 25% or more ownership or control.

Identifying and verifying beneficial owners is a key requirement of customer due diligence.
Screening and monitoring
PEP (Politically Exposed Person) An individual who holds or has held a prominent public position, as well as their immediate family members and close associates.

PEPs are considered higher risk and require enhanced due diligence.
Sanctions screening The process of checking clients against government-issued sanctions lists.
Adverse media Negative news or publicly available information that may indicate potential risk.
Reporting and obligations
SMR (Suspicious Matter Report) A report submitted to AUSTRAC when a reporting entity forms a reasonable suspicion of money laundering, terrorism financing or other criminal activity.

SMRs must be lodged within strict timeframes and must not be disclosed to the client.
Internal controls
KYE (Know Your Employee) A process used to verify employee identity, background and suitability to reduce internal risk and support AML/CTF compliance.
Personnel register A record of staff involved in AML/CTF compliance, including roles, responsibilities and training status.
Other
Compliance lifecycle The end-to-end process of managing AML/CTF obligations, from onboarding through to monitoring, reporting and record keeping.
Audit-ready A state where records, processes and documentation are complete and readily available to demonstrate compliance.


https://firmverify.com.au/