Best for law firms, accountants and real estate

Flagship
AML

Property Specific AML Platform

Property focused option

Multi Industry AML Platforms

General purpose tools

AML Consultants

High touch external support

DIY or Spreadsheets

Manual approach, higher compliance risk
Commercial
Best for
Law firms, accountants and real estate agents
Property operators
General business use
Large budgets
Basic use only
Monthly cost
$66.70 per month plus GST
$59 to $299+ per month plus GST
$179 to $449 per month plus GST plus usage
$2,000 to $4,000 per month plus GST
$0
Setup or onboarding fees
$0
$0
$0
$5,000 to $15,000 plus GST
$0
Identity and onboarding
Identity verification
No ID storage; risk-based verification using digital ID or document sighting
$12 per check
$15 to $20 per check
Not included
Manual
KYC and CDD reports
Unlimited, no per report cost
Included workflow based
Limited or pay per use
Not applicable
Manual
Screening checks including PEP sanctions and watchlists
30 free per month, scalable
Included no clear limit
Pay per check
Separate tools
Manual
Sanctions screening Australia
Unlimited DFAT sanctions screening
Included
Included varies
Separate tools
Manual
Compliance framework
Time to compliance
Structured setup in under one hour
Less than one hour automated setup
Days to weeks
One to three months
Weeks to months
Compliance approach
Risk based AML system aligned with AUSTRAC
Automated workflows
Generic workflows
Written for you
Self managed
AML CTF Program Part A and Part B
Included in annual plan, tailored
Auto generated
Add on or template
Custom high cost
Self prepared
Risk and control
Legal defensibility
Audit ready structure
Not clearly defined
Not clearly defined
Depends on advisor
Your responsibility
Control over decisions
Full control by your firm
System driven outputs
System driven
Outsourced
Full control
Enhanced due diligence
Unlimited with escalation workflows
Workflow based
Limited or varies
Manual
Manual
Beneficial ownership analysis
Unlimited calculator
Included
Limited
Manual
Manual
Reporting and governance
Annual AUSTRAC compliance reporting
Automated structured outputs
Auto generated wizard
Limited
Additional cost
Manual
Staff training
Free training modules plus curated AUSTRAC and public compliance resources
Included
Limited or varies
Additional cost
Self managed
Seven year audit trail
Full audit trail maintained (client retains responsibility)
Included
Included
Paper based
Your responsibility
Data hosting
Secure cloud infrastructure United States
Varies
Varies
Not applicable
Your device
Data security
No storage of ID copies, HTTPS TLS and controlled access
Not clearly defined
Varies
Depends on provider
None
Board and executive reporting
Export ready reports
PDF export
Limited
Additional cost
Manual
Trust and complex structures
Full workflow for complex structures
Included
Basic
Manual
Manual
TTR monitoring ($10,000 cash threshold)
Automated alerts
Alerts or blocking model
Limited
Not included
Manual
Tipping off controls
Tipping off controls (annual plan; client implementation)
Limited role filtering
Not clearly defined
Training based
None
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Important information

Flagship AML does not perform identity verification. Users verify identity using trusted external providers such as Australia Post Digital ID or by sighting original or certified documents in accordance with a risk based approach.

Screening checks beyond included monthly allowances may incur usage based fees. Features vary between providers and should be independently verified.

This comparison is based on publicly available information at the time of publication. Features and pricing may change. Flagship AML is not affiliated with or endorsed by AUSTRAC. This information is general in nature and does not constitute legal advice.