KYB Australia Trusts, SMSFs & Corporate Chains
ClearAML handles KYB for all Australian entity types — mapping the ownership structure, identifying beneficial owners, and verifying each person in the structure.
How does ClearAML handle KYB for Australian entities?
ClearAML handles KYB for all Australian entity types — companies, trusts, SMSFs, and multi-layer corporate structures — mapping the ownership structure, identifying beneficial owners, and verifying each person in the structure.
Why KYB is harder than KYC for Australian firms
Individual identity verification (KYC) follows a single workflow: collect name, date of birth, and address, then verify against a document. Business verification (KYB) is fundamentally different — the entity itself cannot be verified; you must look through it to identify the individuals who own and control it.
For Australian firms, this is particularly complex. Clients commonly hold assets through discretionary trusts and SMSFs — structures that involve multiple parties (trustees, beneficiaries, settlors) and require document collection beyond a standard identity check. Multi-layer corporate chains introduce further complexity, requiring firms to map through each layer to the ultimate beneficial owner. AUSTRAC's sector reviews consistently cite inadequate KYB for trusts and corporate structures as a primary compliance deficiency.
The five entity types ClearAML handles
Sole Trader
Verified as an individual — ABN confirmed, trading name recorded. Standard identity verification and screening applies.
Pty Ltd Company
Upload the company extract and ClearAML maps directors and shareholders above the 25% threshold. Each is routed through identity verification and PEP/sanctions screening. (Auto-purchased ASIC extracts coming soon.)
Discretionary Trust
Trust deed collected. Trustee, beneficiaries, and settlor identified. Corporate trustees trigger the company KYB workflow for their directors.
SMSF
ABN verified against the ATO register. Individual and corporate trustee structures both supported. Each trustee verified and screened.
Multi-Layer Corporate Chain
Ownership mapped through each corporate layer until individual beneficial owners are identified. Effective control test applied regardless of shareholding percentage.
Manual KYB vs ClearAML
Manual KYB process
- • Company data manually searched on ASIC website
- • Trust deed reviewed and mapped manually — time-intensive
- • SMSF ABN not systematically verified against ATO register
- • Corporate chain mapping done in spreadsheets or notes
- • Beneficial owners identified inconsistently across staff
- • KYB records stored across email threads and folders
ClearAML KYB engine
- • Company structure mapped visually to directors, shareholders & UBOs
- • Structured trust deed collection workflow built in
- • SMSF ABN verified against ATO register automatically
- • Corporate chain mapped through each layer systematically
- • 25% threshold and effective control test applied consistently
- • Complete KYB record stored in immutable audit trail
Compliance in 3 Simple Steps
Stop wrestling with manual checklists. Get set up and compliant in minutes, not weeks.
1. Select Entity Type
Choose the entity type — Pty Ltd company, discretionary trust, SMSF, partnership, or sole trader. ClearAML presents the appropriate verification workflow for each structure type.
2. Map the Ownership Structure
Upload the company extract, trust deed or agreement and ClearAML maps the entity's ownership structure — directors, shareholders, trustees and corporate layers — on an interactive chart. (Purchasable ASIC company extracts that auto-populate this step are coming soon.)
3. Beneficial Owners Identified and Verified
ClearAML maps the ownership structure to identify all individuals who own 25% or more, or who exercise effective control. Each beneficial owner is then routed through the standard identity verification and screening workflow.
Everything you need to be compliant
Replace your fragmented spreadsheets with a purpose-built platform designed for Australian accounting firms.
Visual Entity Structure Map
Build an interactive ownership map for every entity — directors, shareholders, trustees and corporate layers — and follow chains across related entities. Anyone at 25%+ effective ownership is flagged as a UBO automatically, and the chart exports for your file pack.
Trust Verification
Handles discretionary trusts, unit trusts, and hybrid trusts — with trust deed upload, trustee identity verification, beneficiary mapping, and settlor identification for trusts established within the last two years.
SMSF Verification
SMSF ABN verified against the ATO register. Trustee structure identified (individual or corporate trustee). Each trustee routed through identity verification and PEP/sanctions screening.
Corporate Chain Mapping
Multi-layer corporate structures are mapped through each layer — following ownership chains until the ultimate beneficial owner (individual person) is identified at each branch.
Beneficial Ownership Threshold
Applies the 25% ownership threshold required under the AML/CTF Act — and flags any individual exercising effective control regardless of their shareholding percentage.
All Five Entity Types
Sole traders, Pty Ltd companies, discretionary trusts, SMSFs, and multi-layer corporate chains — each with a verification workflow designed for that structure type.
Purchasable ASIC company extracts
Today you upload the company extract and ClearAML maps the ownership structure for you. Soon you'll be able to purchase official ASIC company extracts directly in ClearAML — directors, shareholders and registered details pulled straight into the KYB record, with no manual download or upload.
Simple, Transparent Pricing
Choose the plan that fits your firm size. Get started today and receive a $15 signup credit in your wallet.
Professional
Complete compliance to suit most small and medium businesses.
Core Platform
Verifications
Service & Support
Integrations
Solo
Perfect for sole practitioners and micro-firms.
- Supported Users2
- Client Risk AssessmentsUnlimited
- PEPs & Sanctions Monitor
- Inter-Firm Connections
- Client Profile Sharing & PDF Export
- KYC Checks (ID + Screening)$8.00 per check
- KYB Checks (Entity)$0.00
- Entity Structure & UBO Map
- AI Map Extraction5 / mo, then $3 ea
- Company Extracts (ASIC)Coming Soon
- Standalone Screening$5.00 per check
- Monthly Credits$0
- Support LevelStandard Email
- Staff TrainingFull Training Modules & PDD Sign-off
- Access to Alpha AML Training
- Xero Practice Manager
Starter
Cost effective, complete compliance for small businesses.
- Supported Users5
- Client Risk AssessmentsUnlimited
- PEPs & Sanctions Monitor
- Inter-Firm Connections
- Client Profile Sharing & PDF Export
- KYC Checks (ID + Screening)$8.00 per check
- KYB Checks (Entity)$0.00
- Entity Structure & UBO Map
- AI Map Extraction15 / mo, then $3 ea
- Company Extracts (ASIC)Coming Soon
- Standalone Screening$5.00 per check
- Monthly Credits$0
- Support LevelStandard Email
- Staff TrainingFull Training Modules & PDD Sign-off
- Access to Alpha AML Training
- Xero Practice Manager
Professional
Complete compliance to suit most small and medium businesses.
- Supported Users25
- Client Risk AssessmentsUnlimited
- PEPs & Sanctions Monitor
- Inter-Firm Connections
- Client Profile Sharing & PDF Export
- KYC Checks (ID + Screening)$8.00 per check
- KYB Checks (Entity)$0.00
- Entity Structure & UBO Map
- AI Map Extraction50 / mo, then $3 ea
- Company Extracts (ASIC)Coming Soon
- Standalone Screening$5.00 per check
- Monthly Credits$135
- Support LevelPriority Support
- Staff TrainingFull Training Modules & PDD Sign-off
- Access to Alpha AML Training
- Xero Practice Manager
Enterprise
White label solution with a big team and many more clients.
- Supported UsersUnlimited
- Client Risk AssessmentsUnlimited
- PEPs & Sanctions Monitor
- Inter-Firm Connections
- Client Profile Sharing & PDF Export
- KYC Checks (ID + Screening)Custom Volume
- KYB Checks (Entity)Custom Volume
- Entity Structure & UBO Map
- AI Map ExtractionCustom Volume
- Company Extracts (ASIC)Coming Soon
- Standalone ScreeningCustom Volume
- Monthly CreditsCustom Volume
- Support LevelDedicated Manager
- Staff TrainingCustom Modules & Branding
- Access to Alpha AML Training
- White Labelling
- Xero Practice Manager
Includes continuous PEP/sanctions monitoring and one-click audit reporting. No setup fees. 14-day free trial + $15 signup credit on all plans.
Frequently Asked Questions
Have a question? Reach out to our Melbourne-based support team.