Ensure your AML/CTF program is effective, compliant, and aligned with AUSTRAC’s expectations.
A strong AML/CTF program requires more than policies—it requires accurate implementation, consistent documentation, and ongoing oversight. Our AML Health Check Services help you identify gaps, assess the strength of your controls, and ensure your business is meeting its obligations under Australian AML/CTF laws.
We conduct an in-depth review of your governance structure, customer onboarding processes, transaction monitoring capabilities, reporting workflows, and training programs. The goal is to give you a clear picture of your current compliance posture so you can take action with confidence.
Whether you’re preparing for an AUSTRAC audit, updating your AML framework, or seeking assurance on your internal controls, our assessments deliver clarity and certainty.
An AML Health Check provides an independent, structured review of how well your current AML/CTF framework is operating in practice. While policies and procedures may appear compliant on paper, gaps often emerge in implementation, consistency, or risk alignment. An AML health check helps identify these issues before they lead to regulatory breaches or enforcement action.
As part of our AML Health Check Services in Australia, we assess whether your AML/CTF program reflects a genuine risk-based approach and remains aligned with current regulatory expectations. This is particularly important for businesses experiencing growth, operational change, increased regulatory scrutiny, or upcoming audits.
An AML health check helps organisations:
Beyond compliance, an AML health check delivers practical value by improving operational efficiency, clarifying responsibilities, and ensuring AML controls are proportionate to actual business risk.
Regulators expect reporting entities to proactively test their systems and controls. Conducting an AML Health Check helps you identify weaknesses early, strengthen risk management processes, and ensure your team is responding effectively to ML/TF threats. It also supports smoother operations, better reporting accuracy, and reduced exposure to penalties or compliance breaches.
An effective AML compliance check not only protects your organisation but also shows your commitment to responsible conduct and regulatory transparency.
Our AML Health Check Services provide a clear, independent review of your organisation’s controls, risk framework, and operational readiness.
We perform a full assessment of your AML/CTF program, reviewing documentation, procedures, risk assessments, monitoring mechanisms, and governance structures. This includes assessing whether your controls are proportionate, effective, and aligned with AUSTRAC’s risk-based approach. The result is a clear analysis of gaps and strengths, along with practical recommendations.
Our operational AML check evaluates how effectively your internal processes are functioning. We review onboarding workflows, KYC/CDD practices, EDD triggers, suspicious matter escalation, and recordkeeping accuracy. This ensures your day-to-day procedures match your documented framework and regulatory expectations.
Transaction monitoring is a critical element of AML compliance. We assess your systems to determine if they effectively identify unusual activity and support timely reporting. We also review suspicious matter reporting processes, threshold reporting accuracy, and escalation procedures to ensure your team is equipped to take the right actions at the right time.
A key part of the health check includes reviewing your ML/TF risk assessment to ensure it is up to date, evidence-based, and aligned with your business model. This helps confirm whether your controls, monitoring systems, and due diligence procedures are proportionate to the risks you face.
Our AML health check methodology is structured, transparent, and tailored to your business model and risk profile. We focus on how your AML/CTF framework operates in practice, not just whether documentation exists.
The AML health check process typically includes:
We begin by understanding your business activities, customer base, products, delivery channels, and inherent ML/TF risk exposure.
This includes assessing AML/CTF programs, risk assessments, KYC/CDD procedures, reporting processes, and training records.
We evaluate whether controls are applied consistently and effectively across onboarding, ongoing monitoring, and escalation processes.
Existing controls are benchmarked against current AML/CTF obligations and regulatory guidance to identify deficiencies or misalignment.
You receive a clear, structured report outlining observations, risk-rated findings, and practical recommendations to strengthen compliance outcomes.
This methodology ensures the AML health check delivers actionable insights that support continuous improvement, audit readiness, and long-term compliance resilience.
Our team brings strong regulatory knowledge, industry experience, and a practical approach to every review. We focus on delivering meaningful insights, clear recommendations, and reliable support that strengthens your AML/CTF program across every stage.
Our assessments are confidential, independent, and tailored to your operational reality. We simplify complex regulatory expectations and provide guidance that helps your business remain compliant, confident, and audit-ready.
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Tranche 2 Consultants
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Table of Contents Box In simple terms: A money mule is someone who moves illegally acquired money on behalf of someone else, often to hide the criminal source. Why it matters: mules are frequently used in scams and can create “clean looking” payment trails through legitimate accounts. Definition A money mule
Table of Contents Money Laundering Key Insights In simple terms: Money laundering is turning proceeds of crime into funds or assets that appear legitimate. Why Tranche 2 should care: property, corporate structures, and professional services are commonly used to disguise beneficial ownership and the origin of funds. What Is Money
Speak with us to conduct an independent AML health assessment or to learn how our AML Health Check Services can support your ongoing compliance requirements.
An AML health check is an independent review of a business’s AML/CTF framework to assess whether controls, procedures, and governance are operating effectively and aligned with regulatory expectations.
An AML health check is not mandatory, but it is strongly recommended to demonstrate a proactive, risk-based approach to compliance and to identify issues before regulatory reviews or audits.
AML health checks are typically conducted every one to two years or when there are significant changes to business operations, customer risk, or regulatory expectations.
An AML health check usually covers AML/CTF programs, ML/TF risk assessments, KYC and CDD processes, transaction monitoring, reporting obligations, and staff training.
AML health checks are most effective when conducted by independent AML specialists who can provide objective, regulator-aligned assessments and practical recommendations.
Yes. An AML health check improves audit readiness by identifying gaps early, strengthening documentation, and demonstrating active compliance oversight.
A Simple, Supportive Way to Work Together
We’re happy to answer any questions you may have and help you determine which of our services best fit your needs.
Your benefits:
What happens next?
Tranche2consultants begins by learning how your business works and what challenges you face.
Frameworks, processes, and training are created around your actual needs, not generic templates.
Ongoing support ensures your business stays aligned with AUSTRAC requirements as they evolve.
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