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AML FinderAU
SubjectTwo records, worked side by side
Records checked to8 October 2026

First AML vs SimpleAML

There is no universal winner. The question is which kinds of buyer should prefer which. These pages are built from the same source-checked data as every other page on AML Finder.

First AML

Full AML/CTF platform

Entry price
On application
Evidence
65%
Marketed to
Accounting, Real estate, Legal, Conveyancing, Financial services
Data residency
australia

SimpleAML

Local register

Entry price
$0.00/mo
Evidence
55%
Marketed to
Accounting, Real estate, Conveyancing
Data residency
Not established

Choose First AML when...

  • Customer due diligence is verified — SimpleAML has not established it.
  • Know-your-business (entity checks) is verified — SimpleAML has not established it.
  • Beneficial ownership and control is verified — SimpleAML has not established it.
  • Enhanced due diligence is verified — SimpleAML has not established it.
  • Electronic identity verification is verified — SimpleAML has not established it.

Choose SimpleAML when...

  • Staff training is verified — First AML has not established it.
  • Tipping-off controls (s123) is verified — First AML has not established it.
  • Risk assessed per designated service is verified — First AML has not established it.
  • Ongoing monitoring triggered by designated service and risk is verified — First AML has not established it.
  • Versioned AML program and CDD records is verified — First AML has not established it.

Where both fit

Risk assessment

Biggest differences

FieldFirst AMLSimpleAML
AML/CTF program creationNoPartial
Staff trainingNoVerified
Customer due diligenceVerifiedPartial
Know-your-business (entity checks)VerifiedNo
Beneficial ownership and controlVerifiedNot established
Enhanced due diligenceVerifiedNot established
Electronic identity verificationVerifiedNo
Biometric liveness and face matchVerifiedNot established
PEP and sanctions screeningVerifiedNo
Adverse media screeningPartialNot established
Ongoing customer monitoringVerifiedNot established
Suspicious matter report workflowNot establishedPartial
AUSTRAC SMR XML exportNot establishedNo
Tipping-off controls (s123)Not establishedVerified

Capabilities, section by section

Program & governance

First AMLSimpleAML
  • AML/CTF program creation Not agreed Queried
  • Program maintenance and review Not obtained Not obtained
  • Risk assessment Agreed Agreed
  • Independent evaluation support (s84) Not obtained Not obtained
  • Staff training Not agreed Agreed

CDD & entity work

First AMLSimpleAML
  • Customer due diligence Agreed Queried
  • Know-your-business (entity checks) Agreed Not agreed
  • Beneficial ownership and control Agreed Not obtained
  • Enhanced due diligence Agreed Not obtained
  • Reliance arrangements Not obtained Not obtained

Identity verification

First AMLSimpleAML
  • Electronic identity verification Agreed Not agreed
  • Biometric liveness and face match Agreed Not obtained
  • Document Verification Service (DVS) access Not obtained Not obtained

Screening & monitoring

First AMLSimpleAML
  • PEP and sanctions screening Agreed Not agreed
  • Adverse media screening Queried Not obtained
  • Ongoing customer monitoring Agreed Not obtained
  • Automated transaction monitoring (bank-style rules) Not obtained Not obtained

Reporting & control

First AMLSimpleAML
  • Suspicious matter report workflow Not obtained Queried
  • AUSTRAC SMR XML export Not obtained Not agreed
  • Tipping-off controls (s123) Not obtained Agreed
  • Threshold transaction reporting Not obtained Not obtained

Evidence & extensibility

First AMLSimpleAML
  • Evidence pack export Agreed Not agreed
  • Immutable audit log Not obtained Not agreed
  • API access Agreed Not obtained

Tranche 2 operations

First AMLSimpleAML
  • Risk assessed per designated service Queried Agreed
  • Ongoing monitoring triggered by designated service and risk Queried Agreed
  • Program obligations calendar Not obtained Queried
  • Versioned AML program and CDD records Queried Agreed
  • Escalation to AMLCO or manager with outcome recorded Agreed Queried
  • Expired document alerts Agreed Not obtained
  • Reliance CDD requests sent and received Agreed Not obtained

Unknowns to confirm

Not established for at least one of these two — ask before relying on it.

Program maintenance and reviewIndependent evaluation support (s84)Reliance arrangementsDocument Verification Service (DVS) accessAutomated transaction monitoring (bank-style rules)Suspicious matter report workflowAUSTRAC SMR XML exportTipping-off controls (s123)

Which one fits your requirements?

These two are compared on every field we track. Tell us what matters to you and we’ll recalculate this comparison against your own requirements.

Tell us what matters to you

Provider facts checked through 8 October 2026. Source records: First AML on AML Directory · SimpleAML on AML Directory