SubjectRequirement — providers by status
Records worked17
AML risk assessment by designated service
Risk assessed for each designated service a firm provides, not only as a generic customer score. Tranche 2 obligations attach to the designated service, so this is how the amended Act frames risk.
Tickmark legend
- Agreedagreed to public source
- Queriedqueried — conditional or limited
- Not obtainednot obtained — not a 'no'
- Not agreednot agreed — confirmed absent
Every record, by status
| Product | Type | Status | Note |
|---|---|---|---|
| AML SoftServe | platform | Agreed | Vendor states its pre-built AML/CTF program for accountants codes each designated service (trust setup, company formation, SMSF administration, nominee services, real property advice, share transactions) with its own risk rating; the real estate page describes a program pre-tuned to AUSTRAC's sector risk assessment. |
| duely | platform | Agreed | Vendor states each engagement records the designated services it covers, and the risk questions asked are the ones tagged to those services; each designated service also carries an inherent rating in the firm's program. |
| SimpleAML | register | Agreed | Vendor states the firm risk assessment has guided sections for designated services and service risk, and auto-calculates a service risk rating. |
| AMLCompliant | document-pack | Queried | Document product, not software: the Setup risk assessment rates the firm's actual services, and the free in-browser draft tool asks which Table 5/6 designated services the firm provides as one of four rated factors; the firm keeps and maintains the result itself. |
| AML Guard | platform | Queried | Vendor states the risk assessment wizard captures the business's designated services alongside customer types, geography, channels and transaction characteristics, and that tenants are configured to their designated services; customer risk uses a 42-factor engine, and per-service risk ratings are not described. |
| AMLTranche | platform | Queried | Vendor states the program and ML/TF risk assessment are generated from a questionnaire that includes the services offered; per-designated-service risk ratings are not described. |
| ClearAML | platform | Queried | Vendor states every client is scored on four dimensions, one of which is the risk of the designated service being provided; the product docs describe profession-specific questionnaires per service line, and no separate risk rating per designated service is described. |
| ComplyReady | platform | Queried | Vendor states its risk assessment is an ML/TF risk matrix covering customer types, services, geographies and delivery channels; a rating per designated service is not described. |
| easyAML | platform | Queried | Vendor knowledge base states the firm risk assessment is built from the account's sector and designated-services list and is flagged for refresh when the firm provides designated services it did not assume; transactions are then scored one by one, but a separate risk rating per designated service is not described. |
| First AML | platform | Queried | Vendor states risk assessments are done per client and matter (case type), with separate question sets for practice areas, offices or jurisdictions; risk is not described as assessed per designated service. |
| FreeAML | verification | Queried | Vendor states the generated risk assessment covers clients, services and geography (customer, geographic, product, delivery channel and operational risk); a rating per designated service is not described. |
| OverSEER AML | platform | Queried | Vendor states its organisation risk assessment includes designated service risks as a category alongside customer, delivery channel and jurisdiction risks (homepage screenshot caption). A separate risk rating per designated service is not described. |
| StackGo IdentityCheck | verification | Queried | Vendor states staff complete a prompted risk assessment per client that covers 'services provided' among other factors. This is a client-level assessment, and no per-designated-service assessment is described. |
| Syntrico | platform | Queried | Vendor states the business-wide risk assessment identifies products and services alongside customers, delivery channels and geography, with review triggers for changes in business or services; a separate risk rating per designated service is not described. |
| TrustSoft | module | Queried | Vendor states its risk assessments cover products, services, geographies and client types, with a pre-configured real estate risk assessment. Assessment per designated service is not described. |
| AMLHUB | platform | Not obtained | Not confirmed by the current public record — a question to ask. |
| NameScan | verification | Not obtained | Not confirmed by the current public record — a question to ask. |
| Agreed to source | 3 | 12 queried · 2 not obtained · 0 not agreed |
Related requirements
AML program softwareAML program maintenance softwareIndependent evaluation supportAML risk assessment softwareAML staff training softwareKYC softwareKYB softwareBeneficial ownership softwareECDD workflow softwareReliance workflow softwareElectronic identity verification softwareLiveness detection software
FAQ
Which providers support aml risk assessment by designated service?
AML SoftServe, duely, SimpleAML are recorded as supporting it.
Does aml risk assessment by designated service mean the same thing in every product?
Risk assessed for each designated service a firm provides, not only as a generic customer score. Tranche 2 obligations attach to the designated service, so this is how the amended Act frames risk. Providers marked “partial” support it conditionally or incompletely — check exactly what is included.