Frequently asked questions

Tranche 2 of Australia’s AML/CTF reforms extends anti-money laundering and counter-terrorism financing obligations to professional services providers that deliver designated services. This includes accountants, lawyers, conveyancers, real estate agents, trust and company service providers (TCSPs), dealers in precious metals and stones, and certain virtual asset service providers (VASPs).

Obligations are triggered by the services your firm provides — not by job title or profession. If your firm provides designated services (for example company or trust formation, assisting with property transactions, managing client funds or property, or related corporate administration), Tranche 2 obligations apply.

Not every client engagement is captured. Trancher helps you identify which services and clients bring obligations into scope.

Tranche 1 refers to the original AML/CTF regime that has applied since 2006 to financial institutions, remittance providers, digital currency exchanges, gambling operators, bullion dealers and certain other regulated businesses. Trancher also supports organisations already subject to Tranche 1 obligations who want a more practical, connected compliance platform.

As a designated service provider, your firm is generally required to:

• Enrol with AUSTRAC
• Implement and maintain an AML/CTF program
• Conduct customer due diligence (KYC/CDD) including PEPs, sanctions and adverse media screening
• Perform ongoing monitoring and risk scoring
• Report suspicious matters (SMRs)
• Appoint an AML/CTF Compliance Officer
• Provide ongoing staff training
• Maintain adequate records and an audit-ready evidence trail

Specific obligations depend on the designated services you provide and your firm’s risk profile.

Non-compliance with the AML/CTF Act can result in civil and criminal penalties, reputational damage, and sustained regulatory scrutiny. AUSTRAC’s enforcement powers extend to both businesses and individuals. We recommend obtaining independent legal advice regarding your specific obligations and risk exposure.

Trancher is a complete AML/CTF compliance platform built for Australian firms that provide designated services under Tranche 1 and Tranche 2. It brings the AML program, client verification, workflows, training, records and optional specialist support together in one place.

One platform. Three ways to manage your obligations: self-managed, self-managed with expert support, or fully managed by Trancher specialists.

No. Trancher is a software platform that helps your firm manage its AML/CTF compliance obligations. It does not provide legal advice, and using Trancher does not guarantee that your firm is compliant. We recommend obtaining independent legal advice specific to your circumstances.

Trancher was founded by Aaron Soh, a compliance specialist and former Global Head of Compliance for a publicly listed payments business. Aaron has extensive experience obtaining and managing regulatory licensing and AML/CTF obligations across multiple jurisdictions. The platform is backed by experienced in-house financial compliance specialists.

Trancher is designed for firms that provide designated services under Australia’s AML/CTF regime. This includes:

• Accounting practices and sole practitioners
• Legal practices
• Conveyancers and settlement agents
• Real estate agents, buyer’s agents and certain developers
• Trust and company service providers (TCSPs)
• Dealers in precious metals and stones
• Virtual asset service providers (VASPs)
• Financial institutions, remittance providers, digital currency exchanges, gambling operators and bullion dealers (Tranche 1)

Every feature is designed around practical workflows for these sectors, with simplicity and the ability to recover billable compliance work where appropriate.

Not currently. Trancher is focused exclusively on businesses captured by Australia’s AML/CTF reforms administered by AUSTRAC.

1. Self-managed — Run your AML program through Trancher using clear workflows and built-in guidance. Your team stays in control.
2. Self-managed + expert support — Use the platform day to day and add Trancher’s in-house financial compliance specialists when you need them (for example for set-up, risk assessment, program development, onboarding, training or first files). Specialist work is task-based with no retainer required.
3. Fully managed by our experts — Ask Trancher’s experienced compliance specialists to manage agreed AML compliance activities on your firm’s behalf. Every managed engagement is separately scoped and quoted according to the work required.

Trancher provides end-to-end AML/CTF compliance infrastructure:

• Firm-wide risk assessment and AUSTRAC-aligned AML/CTF program builder
• Client verification (KYC/KYB) including PEPs, sanctions and adverse media screening
• Ongoing monitoring and risk scoring
• Suspicious matter reporting support
• Staff training modules and built-in guidance
• Audit-ready records, dashboards and a clear evidence trail
• Activity tracking to support recovery of billable compliance work where appropriate

It is a complete governance and operations platform, not a point solution.

Trancher is designed to sit alongside the way your firm already works — whether that is an accounting practice, legal file, conveyancing matter, real estate deal or other designated service. It maps AML compliance to your existing workflows, reduces administration, creates a clear evidence trail and helps recover compliance work where appropriate.

Yes. Trancher includes staff training modules and built-in guidance to help your firm meet its training obligations under the AML/CTF Act.

Yes. The platform includes activity tracking so you can record compliance work performed for clients and, where appropriate, recover it as billable professional services. AML compliance does not have to be pure overhead.

For firms that want a head start, Trancher offers customisation of the AUSTRAC starter kit with your firm’s details, followed by loading of the completed program and configuration into your Trancher profile. This is a one-off service priced at $600 (AUD, excluding GST).

Platform plans start from $9.99 per week (AUD, excluding GST). All plans include access to the complete platform.

• Trancher Solo — 1 seat — $9.99 per week
• Trancher Practice — 3 seats — $19.99 per week
• Additional Practice seats — $9.99 per seat per week (up to 15 seats in total)
• Trancher Custom — more than 15 seats — on application

All platform plans include access to the complete platform. Cancel at any time with 30 days’ written notice. No long-term lock-in.

Verification is charged per successful check. Each person checked within an entity (including directors, beneficial owners and authorised persons) requires a separate KYC check.

• KYC (individual): $12
• KYB (entity, company or trust): $35

The same rates apply across Solo, Practice and Custom plans. All prices are in AUD and exclude GST.

• AUSTRAC starter-kit customisation and loading — $600 one-off
• Task-based specialist support — priced according to the work completed; no fixed retainer
• Fully managed services — separately scoped and quoted according to the work your firm needs

Contact us to book a short overview. We’ll assess your firm’s obligations, walk you through the platform, and confirm which option (self-managed, self-managed + expert support, or fully managed) is right for you.

Most firms move from start to operational compliance within weeks.

Identity and business verification services are delivered with enterprise-grade security controls aligned to ISO/IEC 27001 information security management and FIPS 140 cryptographic standards for the protection of sensitive identity data.