What are the AUSTRAC KYC requirements for mortgage brokers?

Mortgage brokers must verify client identity before providing credit assistance, maintain an AML/CTF program (Part B), screen against sanctions and PEP lists, and retain records for 7 years. AIS automates all of this.

Does AIS satisfy ASIC requirements for mortgage brokers?

Yes. Our KYC process satisfies the identity verification requirements imposed by ASIC under the National Consumer Credit Protection Act and Corporations Act for ASIC-licensed businesses.

Can AIS verify identity for SMSF and trust structures?

Yes. AIS can verify individual trustees, corporate trustees and beneficial owners for SMSF and trust structures, meeting your AML/CTF obligations for complex entity verification.

🏦 Finance

KYC compliance for mortgage brokers

Mortgage brokers are reporting entities under the AML/CTF Act and must verify client identity before providing any credit assistance. AIS gives you a fast, fully compliant digital KYC process.

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Finance

Mortgage Brokers & Finance Professionals

Mortgage brokers are reporting entities under the AML/CTF Act and must verify client identity before providing any credit assistance. AIS gives you a fast, fully compliant digital KYC process.

🏛️ AUSTRAC AML/CTF📋 ASIC Requirements🔒 Privacy Act

✓Verify client identity before first credit meeting
✓AUSTRAC-compliant KYC with full audit trail
✓Verify identity for SMSF and trust structures
✓AML and PEP screening on every client
✓Digital records stored securely for 7 years
✓Integrates with your CRM via API or webhook

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Compliance obligations for brokers

Part B

AML/CTF Program requirement — you must document and follow KYC procedures for all clients

2 Sources

AML 2+2 standard requires identity verified against two independent data sources

Ongoing

Continuous AML monitoring required — not just at onboarding but throughout the client relationship

7 Years

Required record retention period for KYC documentation under the AML/CTF Act

FAQ

Common questions about finance

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