Fintechs
Payments, lending and wallet products are usually designated services, which makes most fintechs reporting entities from day one. The API runs identity checks and screening inside your signup flow; WatchEye gives the compliance team its own view of the same customers.
What the regulator requires of you
The same AML/CTF Act obligations as a bank, regardless of headcount. AUSTRAC's guidance is the authority; this is the working list.
Enrol with AUSTRAC
Enrolment is required within 28 days of starting to provide a designated service, and your details must be kept current.
Identify your customers
Applicable customer identification before the service is provided, with extra scrutiny for politically exposed persons and higher-risk customers.
Keep monitoring them
Ongoing customer due diligence for the life of the relationship: transaction monitoring and re-screening as customer risk changes.
Screen against watchlists
Checks against sanctions lists and PEP data, at onboarding and whenever lists change.
Report suspicious matters
SMRs within 24 hours for suspected terrorism financing, 3 business days for other suspicions. Threshold transactions of A$10,000 or more within 10 business days.
Keep the records
Identification and transaction records kept for seven years, retrievable when AUSTRAC asks.
Maintain an AML/CTF program
A documented, board-approved program with a risk assessment, a compliance officer, staff training and periodic independent review.
How our products cover this
Most fintechs integrate the API first and add the platforms as the team grows.
KYC inside your signup flow
Identity verification, DVS document checks, PEP and sanctions screening — called from your own onboarding code, with a result in seconds.
- check_circlePer-field match results for straight-through processing
- check_circleScreening in the same integration
- check_circleSandbox for integration testing
ID Pass
A hosted document-and-selfie flow for the customers your data checks can't clear automatically.
Read morearrow_forwardWatchEye
The compliance team's own view: monitoring, alerts and the records AUSTRAC expects.
Read morearrow_forwardIDFEX ID Check
Manual checks in a browser while your integration is still being built.
Read morearrow_forwardUse cases for this sector
Problem-by-problem walkthroughs, with the products and data behind each.
Customer onboarding
Verify a new customer in one pass, inside your own signup flow.
Read morearrow_forward policyWatchlist screening
PEP and sanctions checks at onboarding and on every list update after it.
Read morearrow_forward assured_workloadAML/CTF compliance
What a compliant program involves and how the platforms cover it.
Read morearrow_forwardThe data behind the checks
Full list, with update cycles, on Our data sources.
Australian consumer data
Names, addresses, dates of birth and contact details, updated daily.
Document Verification Service (DVS)
Government-issued IDs checked against the issuing agency: licences, passports, Medicare cards and 11 more document types.
PEP & sanctions lists
Australian and international watchlists, refreshed as the source lists change.
Australian Death Check
Official registry death records, used to catch stolen identities of deceased persons.
Other industries
Sectors with overlapping obligations and similar setups.
Banking & Finance
Customer verification, data enrichment and risk assessment for lending and onboarding teams.
Read morearrow_forward assured_workloadAML/CTF Reporting Entities
AUSTRAC-aligned onboarding, screening and monitoring for bookmakers, bullion dealers, pubs, clubs and RSLs.
Read morearrow_forward domainIdentity Verification Providers
API access to daily-updated Australian data for identity providers entering or serving the Australian market.
Read morearrow_forwardTalk through your obligations
Tell us what your product does and we'll walk through what your program needs and which endpoints cover it. No obligation on your side.