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.
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Key takeaways

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 — as well as verifying the entity itself, 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 requires firms to follow each chain of ownership until the individual beneficial owners are identified.

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

Purchase the official ASIC extract in one click — directors and shareholders import automatically, with beneficial owners flagged above the 25% threshold — or upload your own extract. Each beneficial owner is routed through identity verification and PEP/sanctions screening.

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 append-only audit trail

Compliance in 3 Simple Steps

Stop wrestling with manual checklists. Get set up in minutes, not weeks.

  1. 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. 2

    Map the Ownership Structure

    For companies, purchase the official ASIC extract in one click — directors and shareholders import automatically, with the extract PDF attached as evidence. Or upload the extract, trust deed or agreement yourself and ClearAML maps the ownership structure — directors, shareholders, trustees and corporate layers — on an interactive chart.

  3. 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 and screening.

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.

Official ASIC company extracts — built in

Purchase official ASIC company extracts directly in ClearAML — directors, shareholders and registered details are pulled straight into the KYB record, the extract PDF is attached as evidence, and beneficial owners are flagged automatically. No manual download, no re-keying.

ClearAML then tracks the beneficial-ownership determination to completion: corporate shareholders are traced layer by layer with further one-click extracts, walls like nominees and foreign entities are resolved by recorded declarations, and the file isn't marked complete until every ownership branch ends in a verified person or a documented decision. Remaining register parties can be screened for PEP and sanctions from $1 per party — the whole register covered without running full KYC on every minor holder.

In use across Australia

ClearAML is built and run by Brive Pty Ltd (ABN 14 680 839 329), an Australian company founded in Melbourne in 2025, with a Melbourne-based support team.

Identity verifications completed
3,000+
Business (KYB) checks completed
1,000+
Firms on paid plans
100+

As at October 2026. Counted from ClearAML's own records; excludes our internal test accounts.

Simple, Transparent Pricing

Choose the plan that fits your firm size. Get started today and receive a $15 signup credit in your wallet.

Solo

Perfect for sole practitioners and micro-firms.

$49/month +GST
Get Started — Solo plan, $49/month +GST
  • 2 supported users
  • KYC checks: $8.00 per check
  • Screening: $5.00 per check
  • Monthly credits: $0
  • Email & In-App Chat
  • Full Training Modules & PDD Sign-off

Starter

Cost effective, complete compliance for small businesses.

$149/month +GST
Get Started — Starter plan, $149/month +GST
  • 10 supported users
  • KYC checks: $8.00 per check
  • Screening: $5.00 per check
  • Monthly credits: $0
  • Email & In-App Chat
  • Full Training Modules & PDD Sign-off
Most popular

Professional

Complete compliance to suit most small and medium businesses.

$299/month +GST
Get Started — Professional plan, $299/month +GST
  • 25 supported users
  • KYC checks: $8.00 per check
  • Screening: $5.00 per check
  • Monthly credits: $135
  • Priority Support
  • Full Training Modules & PDD Sign-off

Enterprise

White label solution with a big team and many more clients.

Contact Sales
Contact Sales — Enterprise plan, Contact Sales
  • Unlimited supported users
  • KYC checks: Custom Volume
  • Screening: Custom Volume
  • Monthly credits: Custom Volume
  • Dedicated Manager
  • Custom Modules & Branding

Includes continuous PEP/sanctions monitoring and one-click audit reporting. No setup fees. 14-day free trial + $15 signup credit on all plans.

Solo
Core Platform
Supported Users2
Client Risk AssessmentsUnlimited
PEPs & Sanctions Monitor
Inter-Firm Connections
Client Profile Sharing & PDF Export
Verifications
KYC Checks (ID + Screening)$8.00 per check
KYB Checks (Entity)$5 + Variable
Entity Structure & UBO Map
AI Map Extraction3 / mo, then $3 ea
Company Extracts (ASIC)$25.00 per extract
Related-Party Screening$1.00 per party
Standalone Screening$5.00 per check
Monthly Credits$0
Service & Support
Support LevelEmail & In-App Chat
Staff TrainingFull Training Modules & PDD Sign-off
Access to Alpha AML Training
Integrations
Xero Practice Manager
Starter
Core Platform
Supported Users10
Client Risk AssessmentsUnlimited
PEPs & Sanctions Monitor
Inter-Firm Connections
Client Profile Sharing & PDF Export
Verifications
KYC Checks (ID + Screening)$8.00 per check
KYB Checks (Entity)$5 + Variable
Entity Structure & UBO Map
AI Map Extraction10 / mo, then $3 ea
Company Extracts (ASIC)$25.00 per extract
Related-Party Screening$1.00 per party
Standalone Screening$5.00 per check
Monthly Credits$0
Service & Support
Support LevelEmail & In-App Chat
Staff TrainingFull Training Modules & PDD Sign-off
Access to Alpha AML Training
Integrations
Xero Practice Manager
Professional
Core Platform
Supported Users25
Client Risk AssessmentsUnlimited
PEPs & Sanctions Monitor
Inter-Firm Connections
Client Profile Sharing & PDF Export
Verifications
KYC Checks (ID + Screening)$8.00 per check
KYB Checks (Entity)$5 + Variable
Entity Structure & UBO Map
AI Map Extraction20 / mo, then $3 ea
Company Extracts (ASIC)$25.00 per extract
Related-Party Screening$1.00 per party
Standalone Screening$5.00 per check
Monthly Credits$135
Service & Support
Support LevelPriority Support
Staff TrainingFull Training Modules & PDD Sign-off
Access to Alpha AML Training
Integrations
Xero Practice Manager
Enterprise
Core Platform
Supported UsersUnlimited
Client Risk AssessmentsUnlimited
PEPs & Sanctions Monitor
Inter-Firm Connections
Client Profile Sharing & PDF Export
Verifications
KYC Checks (ID + Screening)Custom Volume
KYB Checks (Entity)Custom Volume
Entity Structure & UBO Map
AI Map ExtractionCustom Volume
Company Extracts (ASIC)Custom Volume
Related-Party ScreeningCustom Volume
Standalone ScreeningCustom Volume
Monthly CreditsCustom Volume
Service & Support
Support LevelDedicated Manager
Staff TrainingCustom Modules & Branding
Access to Alpha AML Training
White Labelling
Integrations
Xero Practice Manager

Frequently Asked Questions

Have a question? Reach out to our Melbourne-based support team.

Know Your Business (KYB) is the process of verifying the identity and ownership structure of a business or non-individual entity — a company, trust, SMSF, or partnership. Under the AML/CTF Act, reporting entities cannot apply the individual identity verification process to entities — they must verify the entity itself and identify the individuals behind it (beneficial owners). AUSTRAC requires you to follow each chain of ownership until you identify the individuals who are the beneficial owners.

For discretionary trusts, ClearAML collects the trust deed (or an extract), identifies the trustee (individual or corporate), maps the named beneficiaries and beneficiary classes, and records and screens the settlor. The trustees (or the directors of a corporate trustee), the appointor and anyone else who controls the trust are then routed through identity verification and PEP/sanctions screening; a settlor with no ongoing role is PEP/sanctions-screened without a full identity check. For unit trusts, unit holders above the 25% ownership threshold are identified and verified as beneficial owners.

For SMSF clients, ClearAML verifies the fund's ABN against the ATO register and identifies whether the fund has individual trustees or a corporate trustee. Where the trustee is a company, ClearAML applies the corporate KYB workflow to identify the directors. Each individual trustee (or director of a corporate trustee) is routed through identity verification and PEP/sanctions screening, as they are the individuals who control and benefit from the fund.

ClearAML maps corporate ownership chains through each layer — if a shareholder is itself a company, ClearAML prompts you to purchase that entity's official ASIC extract in one click (or map it manually) and continues until individual beneficial owners are identified at each branch. Nominees, trustees and foreign entities that the register can't see through are resolved by recorded declarations, and the determination isn't marked complete until every branch ends in a verified person or a documented decision. The beneficial ownership threshold is 25% direct or indirect ownership, or effective control regardless of shareholding. The completed structure map is retained in the client's audit trail.

Under Australia's AML/CTF framework, a beneficial owner is generally any individual who owns or controls 25% or more of the entity, directly or indirectly. However, the threshold is a floor, not a ceiling — reporting entities must also identify and verify any individual who exercises effective control over an entity regardless of their shareholding. ClearAML applies both tests and flags any individual who meets either criterion for identity verification and screening.

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