AMLify's Sanctions & PEP Screening for Accounting Firms
AMLify screens every accounting client against sanctions and PEP lists automatically, flagging risk before AUSTRAC does. Here is how the feature works.
AMLify screens every client an accounting firm onboards against DFAT, UN, OFAC, and EU sanctions lists plus politically exposed person (PEP) databases automatically, flagging matches at onboarding rather than leaving a firm to discover them during an AUSTRAC review.
Why do accounting firms need sanctions and PEP screening?
Under the AML/CTF Act 2006, an accounting firm providing designated services must know whether a client is subject to sanctions or holds a position of public trust before that relationship goes any further. Manual list-checking does not scale once a firm has more than a handful of clients, and it is exactly the kind of gap AUSTRAC's Tranche 2 reviews are now testing for.
What does AMLify's screening actually check?
- Sanctions lists — DFAT, UN, OFAC, and EU consolidated lists, checked automatically at onboarding
- PEP databases — domestic and foreign politically exposed persons, plus their close associates
- Adverse media — negative news coverage that may not appear on a formal list
- Fuzzy name matching — catches transliterations, misspellings, and aliases a simple text search would miss
- Batch screening — runs against your existing client base, not just new onboardings
How does screening fit into an accountant's onboarding workflow?
Screening runs as part of the same guided onboarding step where AMLify verifies identity and assigns a risk rating, so a firm is not bolting a separate check onto its process. A clear match, a near match, and a clean result are each handled differently — only genuine hits interrupt onboarding for a manual look.
What happens when a screening match comes back?
A confirmed sanctions hit blocks the relationship pending a decision from your AMLCO. A PEP or adverse media match instead routes the client into enhanced due diligence, with AMLify prompting for source-of-wealth evidence and closer ongoing monitoring rather than an automatic refusal. Every decision and its evidence is logged for later review.
Key Takeaways
- Screening runs automatically at onboarding against DFAT, UN, OFAC, and EU sanctions lists plus PEP databases
- Fuzzy matching and adverse media checks catch risks a manual search would miss
- Existing client bases can be batch screened, not just new clients
- Matches route to enhanced due diligence or an AMLCO decision, not an automatic block
- Every screening result and decision is logged for AUSTRAC review readiness
Frequently Asked Questions
Q: Does AMLify screen existing clients or only new ones?
Both. New clients are screened automatically during onboarding, and AMLify can run a batch screen across your existing client base so historical relationships are not left unchecked.
Q: What counts as a PEP under Australian AML/CTF rules?
A politically exposed person is someone who holds, or has held, a prominent public function domestically or overseas, along with their immediate family members and close associates. AMLify's screening covers all three categories.
Q: Does a PEP match mean we have to end the relationship?
No. A PEP match triggers enhanced due diligence, not an automatic refusal — AMLify guides you through gathering source-of-wealth evidence and setting closer ongoing monitoring so you can make an informed, documented decision.
Q: How often are sanctions and PEP lists updated?
AMLify's screening checks against current DFAT, UN, OFAC, and EU list data, so a client is measured against up-to-date lists each time a screen runs rather than a stale snapshot.
This is general information only and not a substitute for legal advice.