What AUSTRAC Wants You to Know About AML Outsourcing — And How to Stay Compliant
If your business is regulated under Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime, outsourcing doesn’t outsource your responsibility.
That was the central message from AUSTRAC’s final AML/CTF Essentials webinar, which focused on the often-misunderstood topic of outsourcing. Whether you’re an accountant, a legal practice, or a financial services provider, understanding how outsourcing affects your compliance obligations is critical.
🔍 AUSTRAC’s Position on Outsourcing
Outsourcing services like customer onboarding, identity verification, or transaction monitoring to a third party is permitted — but it does not shift your legal responsibility. As AUSTRAC made clear:
“You can outsource the function, but not the obligation.”
In other words, you remain fully accountable for ensuring the outsourced provider acts in line with the AML/CTF rules. This includes reviewing how the provider operates, documenting responsibilities clearly in your program, and ensuring compliance is verifiable.
🧩 So Where Does Tech Come In?
Outsourcing doesn’t always mean handing over your operations to another business. Increasingly, automation and embedded software tools are providing powerful ways to meet your obligations — without losing control.
At StackGo, we believe this is the real opportunity.
Using integrations like IdentityCheck, you can:
✅ Biometrically verify identities using passports or driver licences
✅ Collect and redact sensitive information like TFNs
✅ Push results directly into your CRM or workflow (e.g. XPM, Salesforce, HubSpot)
✅ Store records in a secure, privacy-conscious way
💡 Example: AML Automation for Accountants
Imagine a mid-size accounting firm onboarding 40 new clients per month. Without automation, that’s 40 manual KYC/AML checks — potentially hours of administrative effort, room for error, and uncertain security practices.
With IdentityCheck, that firm can reduce onboarding time by 30–60 minutes per client, automate reporting, and confidently meet their obligations — all without sacrificing control.
The result?
📉 Lower operational cost
📈 Reduced training overhead
🔐 Enhanced privacy and data control
🧠 More time for actual client work
🔄 Better Than Traditional Outsourcing
Tools like IdentityCheck aren’t a replacement for your AML officer — they’re scalable digital helpers. Unlike traditional outsourcing, these tools:
- Run inside your existing software stack
- Have minimal learning curve
- Offer real-time audit trails
- Don’t require handing over client data to a third party
It’s automation on your terms, not delegation.
📌 Bottom Line
If you’re regulated under AUSTRAC’s AML/CTF laws, outsourcing is allowed — but you must stay accountable. Smart use of integrated tools like StackGo’s IdentityCheck enables automation, accuracy, and control in equal measure.
As AUSTRAC’s webinar made clear: it’s not about outsourcing responsibility, it’s about embedding compliance into how your business already runs.
