Is Flagship AML affordable for a small law firm or accounting firm?
Yes. Flagship AML was deliberately designed to be accessible to small and independent firms.
Our low monthly subscription price includes access to a comprehensive AML/CTF compliance program and workflow, rather than requiring a small business to assemble separate systems for each part of its compliance obligations.
Where external checks are required, our verification and screening checks are competitively priced. Subscribers also receive 30 free PEP screening checks each month.
This allows small firms to obtain the structure and governance of a comprehensive AML/CTF system without paying for an enterprise platform designed for a large compliance team.
Is Flagship AML a KYC tool or a complete AML/CTF compliance platform?
Flagship AML is much more than a KYC or identity verification tool.
KYC is one component of an AML/CTF Program. Flagship AML supports the broader compliance lifecycle, including:
For a small firm, this means AML/CTF compliance can be managed through a coherent workflow rather than through disconnected forms, spreadsheets, searches and reminders.
Does Flagship AML allow lawyers and accountants to exercise professional judgment?
Yes.
Flagship AML is built around a risk-based approach and professional judgment.
Our KYC workflows support flexible decision-making rather than assuming that every customer, transaction or matter should be treated identically.
The platform helps the user collect relevant information, assess risk, select appropriate verification methods, record the evidence considered and document the reasons for compliance decisions.
Flagship AML supports the practitioner’s judgment. It does not seek to replace it.
This is particularly important for lawyers and accountants, whose customers, matters and transactions can vary considerably in complexity and risk.
Can a small firm manage its entire AML/CTF workflow in Flagship AML?
Yes. This is one of the principal reasons Flagship AML was developed.
A small firm’s AML/CTF Compliance Officer may also be a principal, partner, lawyer, accountant or practice manager. The firm may not have a separate compliance department to chase incomplete CDD, monitor review dates and maintain separate compliance registers.
Flagship AML brings those processes together.
The platform provides structured workflows from onboarding through to KYC, risk assessment, screening, EDD, approvals and ongoing monitoring, with the relevant information retained as part of the compliance record.
This gives small firms simplicity at the front end and compliance depth behind it.
How does Flagship AML support AML/CTF governance?
Good AML/CTF compliance involves more than completing customer checks.
Flagship AML supports the governance processes required to operate an AML/CTF Program over time, including defined compliance roles, approvals, escalation pathways, monitoring, records and reporting.
The platform helps firms demonstrate not merely that a check was completed, but what was considered, what decision was made, who made it and when.
That distinction becomes increasingly important as a firm’s AML/CTF Program moves from initial implementation into everyday operation.
Is Flagship AML privacy-first AML software?
Yes. Privacy by design is an important part of the Flagship AML philosophy.
Small law firms and accounting firms already maintain client and matter records through their existing practice systems. We do not believe an AML platform should unnecessarily duplicate sensitive client information simply because technology makes it possible.
Flagship AML therefore focuses on retaining the information required to support the AML/CTF compliance process and audit trail.
Where a practitioner reviews supporting evidence, such as a bank statement or other financial document, the underlying document can remain within the firm’s existing client or matter file while the relevant AML/CTF assessment, evidence considered and decision are recorded in Flagship AML.
This approach helps minimise unnecessary duplication of sensitive client information while preserving a clear compliance record.
How does Flagship AML help small firms with AML/CTF record keeping?
Flagship AML creates a structured record of the firm’s AML/CTF compliance activity.
Rather than relying on staff to reconstruct decisions from emails, spreadsheets and separate files, the platform records the relevant compliance process as it occurs.
Depending on the workflow, this can include customer information, risk assessments, beneficial ownership analysis, screening results, verification methods, EDD decisions, approvals, monitoring requirements and other compliance records.
Can we show what we did and why we did it?
This helps a small firm answer that important question.
Does Flagship AML include AML/CTF training?
Yes.
Training is part of an effective AML/CTF compliance framework, particularly where staff have different responsibilities within the firm’s AML/CTF Program.
Flagship AML supports staff AML/CTF training and the maintenance of appropriate training records, helping small firms integrate training into their broader compliance framework rather than treating it as a separate exercise.
Does Flagship AML help identify beneficial owners?
Yes.
Beneficial ownership can be one of the most difficult areas of customer due diligence, particularly where companies, trusts and layered ownership structures are involved.
Flagship AML includes beneficial ownership workflows designed to help users work systematically through ownership and control.
Our Beneficial Ownership Calculator assists users to trace direct and indirect ownership through corporate structures and identify relevant ownership and control relationships.
Free Share Calculator
A public tool on our website to help Australian businesses understand and calculate share-holding as a percentage.
This calculator is not the same as our Beneficial Ownership Calculator.
Open the free Share Calculator
Beneficial Ownership Calculator in Flagship AML
The full workflow inside Flagship AML. It traces direct and indirect ownership through corporate structures and identifies relevant ownership and control relationships as part of customer due diligence.
Explore the Beneficial Ownership Calculator
The objective is not to turn a real estate agent, accountant or small-firm employee into a trusts or corporations lawyer. It is to provide a structured process that helps them work through the relevant facts and reach an informed compliance outcome.
Can Flagship AML help with company and trust formation matters?
Yes.
Flagship AML includes dedicated workflows for company formation and trust formation matters, recognising that forming a new legal structure presents different AML/CTF questions from acting for an established customer.
These pathways help firms collect the relevant information at the appropriate point in the engagement and work through ownership, control, funding and customer due diligence requirements within the broader AML/CTF workflow.
This is particularly useful for accounting and law firms that regularly establish companies and trusts for clients.
Can Flagship AML perform ASIC searches?
Yes.
Flagship AML incorporates ASIC search capability into relevant company workflows, helping practitioners obtain company information without unnecessarily moving between multiple systems.
Company information can then be used as part of the broader KYC and beneficial ownership process.
For small firms, reducing repetitive searching and re-entry of information can make a substantial difference to the time required to complete AML/CTF compliance.
Does Flagship AML offer digital client onboarding?
Yes.
Flagship AML provides fast digital client onboarding so firms can collect relevant information directly from clients through a structured onboarding process.
Information supplied through onboarding can then support the firm’s subsequent KYC and compliance workflow, reducing unnecessary duplication while preserving the distinction between information provided by the client and compliance decisions made by the reporting entity.
The practitioner remains responsible for the AML/CTF assessment. Digital onboarding simply makes the collection and review of factual information more efficient.
Does Flagship AML support enhanced due diligence?
Yes.
Where a customer or matter presents higher ML/TF risk, Flagship AML provides a structured enhanced due diligence (EDD) workflow.
The platform supports the recording of matters such as source of funds, source of wealth, additional evidence considered, reasons for proceeding, conditions or controls imposed, approval and ongoing monitoring requirements.
This allows a small firm to apply greater scrutiny where risk requires it without imposing the same level of enhanced investigation on every customer.
Does Flagship AML support PEP and sanctions screening?
Yes.
Flagship AML incorporates PEP and sanctions screening into the compliance workflow.
Subscribers receive 30 free PEP screening checks each month, with additional screening available where required.
Screening results form part of the broader customer due diligence process rather than existing as isolated checks. Where a result requires further consideration, the practitioner can assess its relevance and determine the appropriate compliance response.
Does Flagship AML support ongoing customer monitoring?
Yes.
AML/CTF compliance does not end when the initial KYC process is completed.
Flagship AML supports ongoing monitoring and periodic review so firms can identify when customer information, risk assessments or due diligence may need to be reconsidered.
This is particularly valuable for small firms that do not have a dedicated compliance team maintaining separate monitoring spreadsheets and calendars.
Can Flagship AML help with suspicious matter reports and threshold transaction reports?
Yes.
Flagship AML supports the compliance workflow associated with regulatory reporting, including Suspicious Matter Reports (SMRs) and Threshold Transaction Reports (TTRs) where the relevant reporting obligation arises.
The purpose of the workflow is to help the reporting entity identify, document, escalate and manage the reporting process consistently within its AML/CTF framework.
The reporting entity remains responsible for determining whether a report is required and for satisfying its regulatory obligations.
Can Flagship AML help with the AUSTRAC annual compliance report?
Yes.
Flagship AML is designed to help firms maintain the compliance records and governance information they need throughout the year rather than trying to reconstruct their AML/CTF activity when annual reporting becomes due.
The platform also supports the annual compliance reporting workflow, helping the firm bring together relevant information concerning the operation of its AML/CTF Program.
For a small firm, good annual reporting starts with good record keeping during the preceding year.
Can Flagship AML support an AUSTRAC reporting group?
Yes.
Flagship AML supports reporting groups, allowing businesses operating through multiple reporting entities to manage AML/CTF compliance within an appropriate group structure.
Engagements can be attributed to the relevant reporting entity while preserving the governance and compliance records required across the group.
This provides greater depth for accounting and legal practices operating through multiple entities without requiring them to adopt an enterprise-scale AML platform.
Is Flagship AML suitable for a sole practitioner or micro firm?
Yes.
Flagship AML was designed with small practices in mind.
A sole practitioner or micro firm still needs a defensible AML/CTF process, but it may not have compliance specialists, administrators or technology teams available to operate it.
The platform therefore combines guided workflows and plain-English processes with the deeper compliance functionality required when a matter becomes more complex.
A straightforward customer can remain straightforward.
A company with layered ownership, a trust structure, a high-risk customer or an EDD matter can receive the additional scrutiny it requires.
Simplicity does not have to mean superficial compliance.
Is Flagship AML suitable for accounting firms and law firms with complex clients?
Yes.
Being designed for small firms does not mean Flagship AML is designed only for simple customers.
Accounting and legal practices regularly encounter companies, trusts, corporate trustees, beneficial ownership structures, source-of-funds enquiries, higher-risk customers and complex engagements.
Flagship AML combines an accessible everyday workflow with deeper functionality for those circumstances.
That is an important part of our design philosophy:
Simple when the matter is simple. Structured and comprehensive when the matter is complex.
Why choose Flagship AML for a small or independent firm?
Flagship AML is designed for firms that want a comprehensive AML/CTF compliance system without unnecessary enterprise complexity.
It combines:
Flagship AML is not designed to replace the professional judgment of the people responsible for AML/CTF compliance.
It is designed to make that judgment easier to apply, easier to record and easier to demonstrate.
Flagship AML provides software and practical compliance workflows. It does not provide legal advice.
Businesses should consider their own circumstances and obtain professional advice where required.