AML/CTF reporting entities
Bookmakers, betting agencies, bullion dealers, pubs, clubs and RSLs provide designated services under the AML/CTF Act, which makes them reporting entities to AUSTRAC. WatchEye was built for this group: customer onboarding, screening and ongoing monitoring in one system, sized for compliance teams of one.
What AUSTRAC requires of you
A summary of the recurring obligations. AUSTRAC's own guidance is the authority; this is the working list our clients build their programs around.
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 venues and bookmakers run WatchEye on its own. The others slot in where your setup needs them.
Onboarding, screening and monitoring in one place
WatchEye runs the customer identification, watchlist screening and ongoing monitoring your program requires, and keeps the records AUSTRAC expects you to produce.
- check_circleCustomer identification against the DVS and Australian data sources
- check_circlePEP and sanctions screening, re-run when lists change
- check_circleRisk flags and alerts for the customers that need a second look
- check_circleAn audit trail built for AUSTRAC requests
IDFEX ID Check
Fast one-off identity checks at the counter or the cage, verified against the DVS.
Read morearrow_forwardCaspar
Deeper KYC searches when a customer needs investigation beyond the standard check.
Read morearrow_forwardAPI
The same checks from your own systems, if you already run a membership or wagering platform.
Read morearrow_forwardUse cases for this sector
Problem-by-problem walkthroughs, with the products and data behind each.
Customer onboarding
Verify a new member or punter in one pass, before the first designated service.
Read morearrow_forward policyWatchlist screening
PEP and sanctions checks at onboarding and on every list update after it.
Read morearrow_forward receipt_longTransaction monitoring
Spot the patterns that trigger an SMR, and file it inside the deadline.
Read morearrow_forwardThe data behind the checks
Full list, with update cycles, on Our data sources.
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 consumer data
Names, addresses, dates of birth and contact details, updated daily.
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 domainIdentity Verification Providers
API access to daily-updated Australian data for identity providers entering or serving the Australian market.
Read morearrow_forward health_and_safetyInsurance
Policyholder verification, record upkeep and the data behind claims review and fraud detection.
Read morearrow_forwardTalk through your obligations
Tell us what designated services you provide and we'll walk you through what your program needs and where WatchEye covers it. No obligation on your side.