AMLify Adds Ownership Chain Mapping for TCSPs
AMLify's new ownership chain mapping feature lets TCSPs visualise layered trust and company structures down to the beneficial owner.
AMLify has added ownership chain mapping for trust and company service providers (TCSPs), letting AMLCOs visualise a client's full corporate and trust structure -- down to the individual beneficial owner -- from a single screen instead of piecing it together across separate onboarding files.
What does the new ownership chain mapping feature do?
Every entity a TCSP onboards can now have its ownership layers entered as a linked chain -- parent company, intermediate holding entities, trusts, and nominee arrangements -- rendered as a single diagram. Each layer shows its jurisdiction, ownership percentage, and the identified beneficial owner at the end of the chain, so the full structure is visible without cross-referencing multiple client files.
Why do TCSPs need to map layered ownership structures?
Layered corporate and trust structures are the TCSP sector's defining risk under the AML/CTF Act 2006 -- a chain running through several jurisdictions or nominee layers can obscure who ultimately controls an entity. AUSTRAC's guidance expects TCSPs to identify beneficial owners at each layer, not just record a final name. Since Tranche 2 came into force, AUSTRAC's reviews have been checking that TCSPs can produce the full chain on request, not just a summary conclusion.
How does ownership chain mapping work in AMLify?
The workflow runs in three steps: 1. Add each layer -- the AMLCO records every entity, trust, or nominee arrangement in the chain as it's identified during due diligence 2. Link the layers -- AMLify connects each layer to the next, building the diagram automatically as ownership percentages and relationships are entered 3. Flag gaps -- any layer missing a confirmed beneficial owner or ownership percentage is highlighted until the AMLCO resolves it
What happens when a client's ownership structure changes?
A chain can be updated at any point -- adding a new intermediate entity, replacing a nominee, or correcting an ownership percentage regenerates the diagram and timestamps the change, so the record shows exactly what the structure looked like at any point in time. That version history matters most when a structure changes mid-relationship and AUSTRAC later asks what the TCSP understood the ownership to be at a given date. See how it fits the rest of the workflow on the AMLify TCSP industry page.
Key Takeaways
- Ownership chain mapping is now built into AMLify's TCSP module -- layered structures render as a single diagram instead of scattered file notes
- Each layer captures jurisdiction, ownership percentage, and beneficial owner so gaps are visible immediately
- Incomplete layers are flagged automatically until the AMLCO confirms the missing detail
- Every change is timestamped, giving TCSPs a defensible record of what a structure looked like at any point in time
- This addresses a specific gap AUSTRAC's post-Tranche 2 reviews have been probing -- the ability to produce a full ownership chain, not just a final conclusion
Frequently Asked Questions
Q: Which client structures can use ownership chain mapping in AMLify?
Any entity onboarded through AMLify's TCSP module -- companies, trusts, and nominee arrangements -- can have its ownership chain built and linked, regardless of how many layers or jurisdictions it involves.
Q: Does the diagram update automatically when a layer changes?
Yes. Editing any layer -- a new entity, a changed percentage, a replaced nominee -- regenerates the diagram immediately and timestamps the change, keeping a full version history.
Q: How does AMLify flag missing beneficial ownership information?
A layer without a confirmed beneficial owner or ownership percentage is highlighted on the diagram and stays flagged on the AMLCO's dashboard until it's resolved.
Q: Is ownership chain mapping included in every AMLify plan for TCSPs?
Yes, it's included in AMLify's TCSP module across all plans, including the 14-day free trial. See /pricing for plan details.
This is general information only and not a substitute for legal advice.