ClearTrace follows AUSTRAC’s own five-step framework, joined into one guided workflow. Each step below shows what happens, what you end up with, who owns it, and the AUSTRAC obligation it satisfies.
Appoint your AML/CTF Compliance Officer and your senior manager approver. ClearTrace captures the appointment date, the fit and proper assessment and the AUSTRAC notification, and assigns each person’s role and permissions.
Work through a guided, plain English questionnaire covering designated services, customers, delivery channels, countries and proliferation financing. Each factor is rated with a rationale, and the overall assessment goes to a senior manager for approval.
ClearTrace builds your AML/CTF policies from the risk assessment and tailors them to the services you provide. Policies are versioned, approved and retained.
For each new client, complete KYC or KYB, identify beneficial owners, screen against the DFAT list and global sources, and let the engine assign Standard or Enhanced CDD. High risk and PEP clients route to a senior manager.
Re-screen clients on trigger events and on a schedule, manage alerts as cases, and — when a suspicion is formed — lodge an SMR or TTR through a workflow with tipping-off controls.
Everything is held on a seven-year, tamper-evident trail. ClearTrace tracks your independent evaluations and prepares the AUSTRAC annual compliance report.
Every client is scored and continuously re-rated, and the rating sets the CDD pathway — exactly as AUSTRAC expects.
Sanctions matches, foreign PEPs and unidentified beneficial owners trigger mandatory escalation, regardless of score.
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