Getting started with Firm Verify
Every setup task, in order. Each row links to the full article for that step.
AML/CTF obligations started on 1 July 2026 If your firm provides a designated service, your obligations apply now, including to clients you were already serving on 1 July 2026. If you haven't yet enrolled with AUSTRAC or finished your AML/CTF Program, do it now. Learn more at AUSTRAC →
Jump to section
- Getting to know Firm Verify – platform orientation, navigation, help and feedback
- Your firm and team – subscription, firm profile, AML/CTF roles, personnel due diligence, training
- Create your AML/CTF Program – risk assessment, policy, process, program
- Your clients and CDD – onboarding, initial CDD, pre-commencement clients, ongoing CDD, escalation, reporting, offboarding
- Coming soon – business verification, suspicious matter reporting, integrations
Each row has four columns:
| Column | What it tells you |
|---|---|
| What | The task to complete |
| Why | Why it matters for AML/CTF compliance |
| Who | The role responsible for completing it |
| Guide | Link to the full article with step-by-step instructions |
Section 1
Getting to know Firm Verify
| What | Why | Who | Guide |
|---|---|---|---|
| Understand what Firm Verify does | Firm Verify is your AML/CTF compliance platform. Read this first to understand what's live, what's coming, and where everything lives. | All personnel | What is Firm Verify? |
| Learn how to navigate the platform | Firm Verify has four areas: Dashboard, Clients, Firm, and Settings. The Firm area has three tabs (Firm Profile, Users, and Program) where most compliance work happens. | All personnel | Navigating Firm Verify |
| Know how to get help and submit feedback | The Help button in the top bar opens this Help Centre. The Feedback button sends suggestions to the BGL product team. | All personnel | Submitting Feedback |
Section 2
Your firm and team
| What | Why | Who | Guide |
|---|---|---|---|
| Complete Firm ProfileRequired first | The Firm Profile holds your firm's legal identity, business identifiers, designated services, and addresses. This information feeds into your AML/CTF Program and AUSTRAC enrolment, so keep it complete and accurate. | Compliance Officer | Firm Profile |
| Add users and assign AML/CTF roles | AUSTRAC requires you to appoint a Compliance Officer, Senior Manager, and Governing Body. Notify AUSTRAC within 14 days of appointing a Compliance Officer. Assign roles in Firm > Users. | Governing Body | Invite Users — Adding users |
| Complete Personnel Due Diligence (PDD) | Every person in an AML/CTF role must be vetted before they start, covering identity, PEP and sanctions screening, suitability, and criminal history. PDD records must be kept for 7 years. Complete an assessment with the six-step PDD wizard, or upload one completed outside Firm Verify, in Firm > Personnel > [person] > Personnel Due Diligence. | Compliance Officer | Personnel Due Diligence Tab |
| Complete AML/CTF training | Everyone in an AML/CTF role must complete mandatory training before getting system access. Firm Verify includes 10 built-in modules covering all AUSTRAC-required topics. Track progress per user in Firm > Users. | All personnel | AML/CTF Training Courses |
| Enrol with AUSTRAC | Firms providing a designated service on 1 July 2026 had until 29 July 2026 to enrol. If your firm hasn't enrolled yet, enrol now through AUSTRAC Online. Once you receive your AUSTRAC number, enter it in your Firm Profile. | Compliance Officer | AUSTRAC enrolment → |
| Set up your subscription | Firm Verify is a paid product from 1 November 2026. To keep using it without interruption, an Account Owner or Admin user adds your firm's payment details in MyBGL. Adding clients is free; billing starts when you start CDD on a client. | Account Owner or Admin | Subscribe to Firm Verify or upgrade from the betaFirm Verify Pricing and Billing |
Section 3
Create your AML/CTF Program
Complete in order: Risk Assessment, then Policy, then Process, then Program. You need at least one current, approved document in each of the first three before the Program can be generated.
| What | Why | Who | Guide |
|---|---|---|---|
| Generate or upload a Risk AssessmentDo this first | AUSTRAC requires a risk assessment before you provide designated services. The wizard comes pre-filled with AUSTRAC guidance defaults, tailored to your industry segment. You need at least one Industry Segment saved in Firm Profile before you can generate. | Compliance Officer | Generate a Risk AssessmentUpload a Risk Assessment |
| Have your Risk Assessment reviewed and approved | The Risk Assessment must be approved before you can mark it as current. Send it for review from the Program tab. Approval sets a next review date automatically (3 years out). | Senior Manager | Generate a Risk Assessment |
| Generate or upload a Policy | The Policy is your firm's overarching AML/CTF commitments document, covering personnel, clients, and program maintenance. The wizard is based on the AUSTRAC starter kit, with defaults you can edit to match your firm's approach. | Compliance Officer | Generate a Policy |
| Have your Policy reviewed and approved | Send the Policy for review from the Program tab. Once approved, mark it as current so it can be included in your Program. A rejected policy can be edited and resubmitted. | Senior Manager | Generate a Policy |
| Generate or upload a Process | The Process document is the step-by-step operational guide for your AML/CTF obligations. It covers CDD, screening, escalations, governance, and reporting. Each step includes a Responsibility field (who does it) and a Required flag (mandatory or optional). | Compliance Officer | Generate a Process |
| Have your Process reviewed and approved | Send the Process for review. Once approved, mark it as current. You now have all three prerequisites needed to generate your Program. | Senior Manager | Generate a Process |
| Generate your AML/CTF ProgramFinal step | The Program is your complete AML/CTF compliance document for AUSTRAC, combining your approved Risk Assessment, Policy, and Process. The Generate button only becomes available once all three have at least one current document. | Compliance Officer | Create your AML/CTF Program |
| Have your Program reviewed and approved | Send the Program for review. Once approved, your AML/CTF Program is complete. Review it at least every 3 years, or sooner if your risk profile changes. | Governing Body | Create your AML/CTF Program |
Section 4
Your clients and CDD
Note: Already recorded clients using the Interim Verification process? Account Owner and Admin users can import them into Firm Verify instead of entering them again. See Import Clients from the Interim Verification Tool.
These obligations apply now. A row labelled In-app support planned means Firm Verify doesn't have a workflow for that task yet, not that the obligation starts later. Until it does, follow your AML/CTF Program and keep your records outside Firm Verify.
| What | Why | Who | Guide |
|---|---|---|---|
| Add and onboard clients | Add clients on the Clients screen, then complete the onboarding workflow to record each client's details, related parties, documents, designated services and delivery channels. Use a client group for related entities (for example a family trust, its corporate trustee and the individuals behind them). Adding clients is free. | Compliance Officer | How to Add and Manage ClientsClient Onboarding |
| Complete initial CDD | Initial CDD establishes who the client is, who owns or controls them, whether they are a PEP or on a sanctions list, and what ML/TF risk they pose. Complete it before you start providing a designated service, unless your AML/CTF Program allows delayed CDD. Use the initial CDD workflow to verify identity (with BGL Identity Verification for individuals and sole traders), screen related parties, assess risk, assign a risk rating (Low, Medium or High) and generate an Initial CDD Record. | Compliance Officer | Initial Client Due DiligenceClient ID VerificationWhat is Customer Due Diligence (CDD)? |
| Ongoing CDD and periodic reviewsIn-app support planned | Your obligations don't end at onboarding, and they apply to pre-commencement clients too. Monitor each client for unusual transactions, changes in beneficial ownership, new service requests, and PEP or sanctions status changes throughout the relationship. The AUSTRAC accounting program starter kit sets periodic reviews by risk rating: High – every year, Medium – every 2 years, Low – every 3 years. | Client-facing personnel, Compliance Officer | AML Controls in Daily WorkAUSTRAC: Use your accounting program → |
| Identify and manage pre-commencement clients | A client you were in a business relationship with on 1 July 2026 for a designated service (for example, acting as their registered office) is a pre-commencement customer. You can keep providing services without initial CDD, but ongoing CDD applies now: monitor for unusual transactions and behaviour that may give rise to a suspicious matter report (SMR); review, update and reverify their KYC information at an appropriate frequency; and monitor for significant changes in the nature and purpose of the relationship. You must complete initial CDD before providing a designated service if either: • an SMR obligation arises in relation to the client, or • a significant change in the nature and purpose of the relationship makes the client's ML/TF risk medium or high (for example, they ask for a service that's different from your existing relationship). When you add a client, turn on the Pre-commencement toggle to record their status. |
Compliance Officer |
Designated services and who is the customerHow to Add and Manage ClientsAUSTRAC: Transitioning existing customers → |
| Escalate and complete enhanced CDD | Some situations require you to stop providing services and escalate to your Compliance Officer before continuing: a potential suspicious matter, a high-risk client, a positive sanctions match, a new risk factor not in your Risk Assessment, or a complex beneficial ownership structure. Enhanced CDD (source of funds, source of wealth, nature and purpose verification, senior manager approval) is required for high-risk clients. | Client-facing personnel (escalate). Compliance Officer (actions). | What is Customer Due Diligence (CDD)? |
| Report suspicious matters to AUSTRACIn-app support planned | Client-facing staff detect and escalate suspicious activity to the Compliance Officer. The Compliance Officer determines whether an SMR is required and submits it through AUSTRAC Online. Deadlines are strict: 24 hours for terrorism financing suspicions, 3 business days for all others. Only the Compliance Officer, Senior Manager, and Governing Body may know whether an SMR has been submitted. | Compliance Officer (submits). All personnel (detect and escalate). | AML Controls in Daily WorkAUSTRAC: Suspicious matter reports → |
| Understand tipping off obligations | It is a criminal offence to tell a client they are under suspicion or that a report has been made about them — even after you have offboarded them. If a client asks why you are requesting more information, you may say it is required under your AML/CTF obligations. Do not mention suspicious activity or any report. | All personnel | Glossary of AML/CTF terms and acronymsAUSTRAC: Suspicious matter reports → |
| Offboard clients outside your risk appetite | If a client falls outside your firm's risk appetite, your Senior Manager does not approve continuing the relationship, or a client fails to provide required CDD information, you must stop providing designated services. Offboarding requires Senior Manager approval. Refer to your retainer clauses when notifying the client — do not mention suspicious activity as a reason. | Senior Manager (approves). Compliance Officer (actions). | What is Customer Due Diligence (CDD)? |
Section 5
Coming soon
These features aren't available yet. For target dates and what's in development, see Planned – November 2026. Use the Feedback button in Firm Verify to share input.
| What | Why | Who | Guide |
|---|---|---|---|
| BGL Business Verification (KYB)Planned | Verify companies, trusts and other entities, including ASIC and ABR lookups, beneficial ownership (UBO) tracing and trust deed reading. Until it's available, verify entities using the initial CDD workflow. | Compliance Officer | Planned – November 2026Firm Verify Pricing and Billing |
| Suspicious matter reportingPlanned | Record suspicious matter report (SMR) details in Firm Verify. Until then, submit reports through AUSTRAC Online. | Compliance Officer | Planned – November 2026AUSTRAC: Suspicious matter reports → |
| Ongoing CDDPlanned | Ongoing monitoring of clients in Firm Verify, with review alerts and reminders. Your ongoing CDD obligations apply now (see Section 4). | Compliance Officer | Planned – November 2026 |
| BGL product integrations (CAS 360, SF360, SI360)Planned | Two-way sync between Firm Verify and CAS 360, Simple Fund 360 and Simple Invest 360, so your AML/CTF records stay aligned with your company secretarial, SMSF and investment accounting data. | Administrator | Planned Integrations 2026 |
| Practice management and onboarding integrationsPlanned | Sync client and contact records from APS Contacts+, Karbon, MYOB Practice Management and Xero Practice Manager, and connect OnboardMe so client data collected during onboarding flows into Firm Verify without re-entry. Your firm needs an active subscription to the connected product. | Administrator | Planned Integrations 2026 |
Last checked against the 5 November 2026 release.