AML Compliance Software Australia | AML-as-a-Service
AML Smart Guard is AML compliance software for Australian businesses that combines a tailored AML/CTF program, identity verification and KYC/KYB screening enabled by the LexisNexis® RiskNarrative® Platform, transaction monitoring, staff training and audit-ready reporting in one service
What “AML-as-a-Service” actually means
AML Smart Guard’s platform is enabled by the LexisNexis® RiskNarrative® Platform, technology used by 7 of the world’s top 10 banks and more than 7,500 government agencies globally. In practice, that means:
- Done-for-you AML/CTF program: built, maintained, and kept audit-ready continuously, not just at setup.
- Identity verification, KYC and KYB: 60-second ID verification, PEP, sanctions, and adverse media screening.
- Ongoing monitoring: 100+ AUSTRAC-aligned risk rulesets running 24/7.
- Team training: AlphaAML eLearning, role-specific and industry-focused.
- Audit-ready reporting: one-click reports, 7+ years of secure storage.
Confirming which designated services apply
With board-level accountability with appropriate senior management oversight.
Built from a documented ML/TF risk assessment.
- Carry out customer due diligence (CDD) and enhanced CDD (ECDD): Identify and verify customers and beneficial owners before or at the time of providing designated services, understand the purpose and nature of the relationship, and apply additional checks for higher‑risk situations (for example PEPs, high‑risk countries, complex or opaque structures, unusual transactions).
- Keep records: Make and retain records of CDD, transactions, risk assessments, program documents, training and AUSTRAC reports for at least 7 years, in a form that can be produced promptly on request.
- Monitor customers and transactions on an ongoing basis: Monitor business relationships and transaction activity to detect unusual or suspicious patterns, update risk ratings when circumstances change, and use that monitoring to decide when to apply ECDD or exit relationships.
- Report to AUSTRAC: Lodge suspicious matter reports (SMRs) when you suspect a person or transaction may be linked to crime or terrorism financing, and submit any other required reports (for example threshold transactions, international funds transfers or sector‑specific returns) within statutory timeframes.
The Numbers Behind the Platform
- 7 of the world’s top 10 banks use LexisNexis® Risk Solutions (Source: LexisNexis® Risk Solutions).
- 98.5% accuracy on human-readable data and 99.98% on machine-readable text, with up to 300 data fields and security features checked for tampering (Source: IDVerse®, part of LexisNexis® Risk Solutions).
- 7+ years secure record storage, ahead of the AML/CTF Act’s 7-year minimum retention requirement.
Confirming which designated services apply
With board-level accountability with appropriate senior management oversight.
Built from a documented ML/TF risk assessment.
- Carry out customer due diligence (CDD) and enhanced CDD (ECDD): Identify and verify customers and beneficial owners before or at the time of providing designated services, understand the purpose and nature of the relationship, and apply additional checks for higher‑risk situations (for example PEPs, high‑risk countries, complex or opaque structures, unusual transactions).
- Keep records: Make and retain records of CDD, transactions, risk assessments, program documents, training and AUSTRAC reports for at least 7 years, in a form that can be produced promptly on request.
- Monitor customers and transactions on an ongoing basis: Monitor business relationships and transaction activity to detect unusual or suspicious patterns, update risk ratings when circumstances change, and use that monitoring to decide when to apply ECDD or exit relationships.
- Report to AUSTRAC: Lodge suspicious matter reports (SMRs) when you suspect a person or transaction may be linked to crime or terrorism financing, and submit any other required reports (for example threshold transactions, international funds transfers or sector‑specific returns) within statutory timeframes.
Should I build or buy my AML Program?
| If you need… | Choose |
| A single AML/CTF program without hiring a compliance team | AML-as-a-Service |
| Screening and monitoring only, folded into an existing internal program | The Flex/Bespoke options |
| Sector-specific workflows (real estate, legal, digital assets, etc.) | The relevant sector page |
How long does the process take?
Account setup takes minutes: nominated users get access to the client portal and training straight away. The platform is built to be intuitive, with guardrails in place to catch data entry errors, and our operations and technical support team is on hand around the clock across time zones, so support doesn’t stop when your customers are online outside business hours.
From there, most clients settle in quickly and start using our guides to build their own standard operating procedures and set up practical, data-driven automations, including bulk file uploads across multiple onboarding users for KYB and financial transaction data.
Frequently asked questions
Can’t find the answer that you’re looking for? Get in touch with us.
It is purpose-built for Tranche 2 sectors, combining program design, screening, monitoring, training, and reporting in one service, with bank-grade technology from LexisNexis® Risk Solutions, delivered without bank-level complexity or cost.
Seven things:
- AUSTRAC alignment (not a generic template)
- End-to-end coverage from risk assessment to reporting
- Risk-based configurability
- Integration with your existing systems
- Audit-ready design with 7-year retention
- Ongoing local support
- Transparent, scalable pricing.
A monthly subscription covering advisory, technology, and compliance support together, with no upfront fees.
A demo is available, and pilot or proof-of-concept arrangements can be discussed to suit your custom requirements – contact our team to discuss the right starting point for your business.
Yes, you can move up or down as your needs change. Starting on the $99 flex plan is the simplest way in. It’s designed to surface what your business actually needs before you commit to changes elsewhere in your setup.
AML Smart Guard can support businesses with overseas operations, but the regulatory requirements that apply will depend on the entities, jurisdictions and services involved. Speak to our team about your specific structure.
Let us worry about AML compliance while you focus on your business.
Compliance as a Service. Our in-house experts manage every aspect of compliance, from KYC and ECDD to regulatory reporting.
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