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Frequently asked questions
Everything you need to know about Clarifyd's compliance platform.
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Common questions
How much does Clarifyd cost?
Pay per check — no ongoing subscription. An itemised invoice is generated before payment so costs are always clear. Volume pricing is available for high-volume users.
Is there a subscription?
No subscription required. You pay only for the checks you run. Volume and subscription plans are available for regular users — contact partner@clarifyd.com.au.
What is included in ClariID?
Standard: 2+2 identity verification, DVS government check, credit agency cross-reference, and watchlist screening. Enhanced adds biometric ID capture, facial recognition, and liveness detection.
What is included in ClariCheck?
An expert AML/CTF risk assessment. Submit documents and our analysts return a written report with a risk guidance level, findings, limitations, recommendations, and SMR indication.
How long are documents retained?
Uploaded documents are automatically purged within 21 calendar days of report generation. Case records are retained for 7 years per baseline AUSTRAC requirements.
Does Clarifyd provide legal advice?
No. Clarifyd provides compliance support tools and reports, not legal or professional advice. Consult a qualified professional for advice specific to your circumstances.
Can I use Clarifyd for Tranche 2 preparation?
Yes. ClariID handles KYC and ClariCheck handles AML/CTF risk assessment — both core Tranche 2 requirements. Obligations are scheduled to take effect from 1 July 2026.
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Yes. Clarifyd is designed to help businesses prepare for Tranche 2 AML/CTF obligations. ClariID supports client identity verification (KYC), and ClariCheck supports AML/CTF risk assessment — both core requirements under Tranche 2. Obligations are scheduled to take effect from 1 July 2026.
No. Clarifyd provides compliance support tools and reports, not legal advice. Reports are general in nature and do not constitute legal, financial, or professional advice. You should consult a qualified professional for advice specific to your circumstances.
ClariID Standard includes 2+2 identity verification, government document verification via Australia's DVS, credit agency cross-referencing, and watchlist and sanctions screening. ClariID Enhanced adds biometric verification — including ID document capture with OCR, facial recognition, and liveness detection — for higher-assurance use cases.
ClariCheck is Clarifyd's AML/CTF risk assessment service. You submit a case with supporting documents — such as contracts, source-of-wealth documents, and bank statements — and expert analysts provide a written report including a risk guidance level, detailed findings, identified limitations, recommendations, and an indication of whether the matter may warrant a Suspicious Matter Report (SMR).
Tranche 2 entities include lawyers, accountants, trust and company service providers, real estate agents, and dealers in precious metals and stones. The list is not conclusive until the reform is implemented.
Tranche 2 entities include lawyers, accountants, trust and company service providers, real estate agents, and dealers in precious metals and stones. The list is not conclusive until the reform is implemented.
You can reach us at hello@clarifyd.com.au for general inquiries. For queries related to matters that you have submitted, please contact us at support@clarifyd.com.au. For questions concerning data and privacy, please reach out to privacy@clarifyd.com.au. For entities interested in forming a partnership or affiliate relationship with Clarifyd, please contact us at partner@clarifyd.com.au.
KYC turnaround time depends on how quickly the client completes their details. If additional documents or information are required, this may extend the process. AML/CTF risk assessments generally take 1 to 2 business days. An expedited option is available, guaranteeing a turnaround time of 6 hours or less.
As Clarifyd's services require access to the Australian Government's Document Verification Service, we are obligated to verify if our users are regulated and have the necessary consent to utilize our services. We obtain and verify information such as solicitor roll, real estate agent license number, TPB's public register, etc. If you are registered with any of the regulatory bodies, by utilising Clarifyd's services, you confirm and acknowledge that you have obtained consents, implied or express, from the relevant parties such as your employer and your clients.
Once you have paid and submitted your matter, you are unable to withdraw your submission. Please reach out to support@clarifyd.com.au for any inquiries.
Please reach out to Clarifyd at hello@clarifyd.com.au and someone will be in touch to guide you.
Clarifyd assesses matters based on the information and documents provided. In some circumstances where there is insufficient material to form an assessment, you may be asked to supply additional documents. If the supplementary documents are not provided, Clarifyd will conclude the assessment based on what is available.
Clarifyd's platform is accessible internationally and is not exclusive to Australian entities. For overseas businesses, please complete the standard registration process. A member of the Clarifyd team will follow up to verify any additional information required.
Clarifyd currently offers AML/CTF risk assessment (ClariCheck) and identity verification (ClariID). Know-Your-Business (KYB) verification is in development and will be released when ready.
We welcome candidates from all backgrounds. If you are interested in joining Clarifyd, please send your resume and areas of interest to career@clarifyd.com.au.
Potential partners and affiliates can reach out to partner@clarifyd.com.au for more information. Clarifyd is also open to investors who are aligned with our goals — please contact invest@clarifyd.com.au.
Reporting entities are required to apply customer identification procedures to their customers, commonly known as KYC. While non-reporting entities are not legally obligated, it is strongly recommended that they also conduct KYC with their clients to better understand them. KYC involves obtaining basic information such as full legal name, date of birth, or residential address. This personal information can then be checked against various electronic data sources to ensure its validity. Additionally, you can collect clients' proof of identification or proof of address to manually validate the personal information. For more details on KYC, visit AUSTRAC's website: https://www.austrac.gov.au/business/core-guidance/customer-identification-and-verification/customer-identification-know-your-customer-kyc
Clarifyd's KYC service not only meets industry standards, but we also offer an additional layer of verification by cross-referencing the personal information you've obtained with the government's Document Verification Service to check for tampering or other issues. Rest assured that Clarifyd is continually reviewing our KYC service to provide you with the latest, fastest, and safest verification procedures. For more details on the Document Verification Service from the Australian Government, visit IDMatch's website. https://www.idmatch.gov.au/
Clarifyd may verify documents the following documents (non-exhaustive): Driver licence, Passports, ImmiCards, Medicare cards, Visa, Birth certificates, Change of name certificates and, Citizenship certificates.
Clarifyd has access to the following databases (non-exhaustive): Illion segmented credit header, Experian credit header, Tenancy, Superannuation, Payroll, Australia Death Check and, Visa Entitlement Verification Online (VEVO).
Clarifyd also allows you to run 'global watchlist screening' on the individual which notifies you if your client is a politically exposed person or a sanctioned individual. Clarifyd's users have access to 450+ global watchlists.
PEP refers to a person that is involved in a prominent public function, such as government officials, politicians, senior executives of a government-owned company, judges, high-ranking military officials or others. A family member or close associate of the above may also be considered as a PEP. A PEP is considered a high-risk entity as a PEP usually has power over disbursement of public funds and influence over government policies. Therefore, certain PEP will need to undergo enhanced customer due diligence ('ECDD') For more details on PEP, visit AUSTRAC's website: https://www.austrac.gov.au/business/core-guidance/customer-identification-and-verification/politically-exposed-persons-peps
Australian implements 2 types of sanctions, United Nations Security Council ('UNSC') sanctions and Australian autonomous sanctions. Each sanction regime will have different measures, and this might mean restrictions on trade in goods and services, restrictions on engaging in commercial activities, travel ban and financial sanctions. Businesses will generally not facilitate sanctioned entities. For more details on sanctions, visit DFAT's website: https://www.dfat.gov.au/international-relations/security/sanctions/about-sanctions
With investors, and coincidentally, financial criminals, becoming more sophisticated, it is increasingly challenging for entities to identify the ultimate beneficial owners, especially when a company is held under multiple entities and through trust structures. AUSTRAC requires entities to identify the business structure and determine who the beneficial owners are before providing services to the client. For more details on KYB, visit AUSTRAC's website: https://www.austrac.gov.au/business/core-guidance/customer-identification-and-verification
AUSTRAC requires entities to identify beneficial owners before providing services. Beneficial owners are individuals who own 25% or more of the business client, directly or indirectly if the business is held under multiple layers. Beneficial owners may also be individuals who have control over the decision-making of a business. In layman's terms, you will need to know who the ultimate 'boss' is. Once identified, you will need to assess the beneficial owners' risks by verifying (KYC) their identities. For more details on UBO, visit AUSTRAC's website: https://www.austrac.gov.au/business/core-guidance/customer-identification-and-verification/beneficial-owners
Businesses may be held under a trust. When a trust is involved, there is no practical way to identify who the beneficial owners or controllers are. Since Australia does not have a centralized trust register, Clarifyd will require a copy of the trust deeds to determine who the trustees, settlor, and beneficiaries of the trust are. The trustee has control over the business dealings of the trust, while beneficiaries are the individuals who receive the income from the trust. For more details on trust, visit AUSTRAC's website: Customer identification and verification: https://www.austrac.gov.au/business/core-guidance/customer-identification-and-verification/customer-identification-and-verification-easy-reference-guide
Clarifyd is working on implementing an overseas company verification feature on our platform. In this instance, we are only able to verify companies from Australia, New Zealand, the United Kingdom, and Singapore. Please reach out to Clarifyd at hello@clarifyd.com.au if you have any queries regarding this.
Clarifyd can assist you in assessing your client for money laundering and terrorism financing risks by examining your client's bank statements, transactional documents, etc. For example, if you have a client who approaches you to purchase a house in cash, Clarifyd can assist you in performing KYC on your client. By uploading a few basic documents such as the contract of sale, client's bank statements, or payslips, as well as source-of-funds or source-of-wealth documents, Clarifyd will analyse these documents and provide you with a report on your client's risk guidance level. The report will also include feedback on findings, recommendations, and limitations.
Currently, Tranche 2 reforms have yet to be implemented. However, the reforms are imminent, and many subject matter experts estimate that the timeline for implementation is between 1 to 2 years. Benefits of using Clarifyd's services now: Get a head start before the reforms come into effect so that your entity is not caught off guard. Reduce business risk by confidently assessing your client's money-laundering risks. Boost public confidence by demonstrating that your business is voluntarily taking adequate steps to combat financial crime. Show AUSTRAC that your business is voluntarily opting in, thereby reducing the risk of being audited.
Clarifyd respects the client legal privilege afforded to legal professionals and their clients. Legal professionals should conduct their own due diligence before using Clarifyd's services. Clarifyd reiterates that documents and information uploaded will not be voluntarily disclosed to any entities, including your client.
Clarifyd reiterates our stance as a neutral party. We are not a reporting entity nor obliged to disclose our findings. Clarifyd will not voluntarily disclose any information to any entities, including your client.
When you use Clarifyd's services, Clarifyd assumes that you have obtained express or implied consent from your client or your business.
If you still wish to use Clarifyd's services but need to retain some information or documents, you can do so by not adding any individuals or businesses when submitting your matter. You can also redact your client's name prior to uploading the documents. For example, redact the account holder's name on a bank statement. Clarifyd will still assess the matter, noting that no watchlist screening will be conducted on your actual client.
Clarifyd's report will provide a general risk guidance level based on the documents and information provided. If Clarifyd finds that your client is high risk, the decision to engage with this client lies with you. Clarifyd will not participate in any of your business decisions. If Clarifyd finds that your client is involved in a suspicious matter, our report will notify you accordingly. Clarifyd will not report the suspicious matter to any parties. The responsibility of filing a Suspicious Matter Report (SMR) lies with you. Clarifyd provides SMR drafting services; please reach out to support@clarifyd.com.au and include your matter number and 'SMR' at the start of the subject.
Clarifyd can provide assistance to help you assess the potential risks of money laundering and terrorism financing that your client may be involved in, by examining client's bank statements, transactional documents, etc. While you may know your client's flow of funds better than we do, we might be able to identify certain trends and patterns that are exconclusive to financial criminals. Clarifyd will assess the statements, flow of funds, and draw inferences from the client's background information to provide you with a general risk guidance level.
Clarifyd's KYC service is the industry standard and compliant with TPB(PN) 5/2022. For more details on the guideline, visit TPB's website: https://www.tpb.gov.au/tpb-practice-note-tpbpn-52022-proof-identity-requirements-client-verification
Clarifyd reiterates our stance as a neutral party. We are not a reporting entity nor obliged to disclose our findings. Clarifyd will not voluntarily disclose any information to any entities, including your client.
When you use Clarifyd's services, Clarifyd assumes that you have obtained express or implied consent from your client or your business.
If you still wish to use Clarifyd's services but need to retain some information or documents, you can do so by not adding any individuals or businesses when submitting your matter. You can also redact your client's name prior to uploading the documents. For example, redact the account holder's name on a bank statement. Clarifyd will still assess the matter, noting that no watchlist screening will be conducted on your actual client.
Clarifyd's report will provide a general risk guidance level based on the documents and information provided. If Clarifyd finds that your client is high risk, the decision to engage with this client lies with you. Clarifyd will not participate in any of your business decisions. If Clarifyd finds that your client is involved in a suspicious matter, our report will notify you accordingly. Clarifyd will not report the suspicious matter to any parties. The responsibility of filing a Suspicious Matter Report (SMR) lies with you. Clarifyd provides SMR drafting services; please reach out to support@clarifyd.com.au and include your matter number and 'SMR' at the start of the subject.
Clarifyd's team members are professionally trained, with some being lawyers, ACCA qualified accountants, IT professionals, etc. We understand the circumstances surrounding sophisticated and UHNW (Ultra High Net Worth) clients, where transactions are often funded through various investment channels. Clarifyd's assessment takes into account various factors and will consider each entity's background.
Documents uploaded to Clarifyd are automatically purged from our systems within 21 calendar days of report generation. Case records and account data are retained for 7 years in line with baseline AUSTRAC requirements. To request deletion of your data, contact privacy@clarifyd.com.au.
Clarifyd takes security very seriously. Each user will be required to set up multi-factor authentication. Additionally, every user will have to undergo internal verification before being allowed to use Clarifyd's services. Clarifyd will also monitor users' activities internally for any breaches of Clarifyd's terms and conditions.
Clarifyd is built on the AWS platform, with servers located in Australia.
At this stage, Clarifyd will retain your data for 7 years, following the baseline requirement from AUSTRAC. Therefore, you can confidently rely on the fact that the documents and information are stored on Clarifyd's platform. If you wish for the documents to be deleted, please contact Clarifyd at privacy@clarifyd.com.au.
Please reach out to Clarifyd at privacy@clarifyd.com.au to have your data deleted.
Clarifyd has partnered with Stripe Payments Australia Pty Ltd (ABN 66 160 183 343) to process all payments. Stripe is an industry-leading payment processor used by many trusted brands. For more details, visit Stripe's website: https://stripe.com/au
Clarifyd charges on a per-check basis with no ongoing subscription required. An itemised invoice is generated before each payment so costs are always clear upfront. Volume pricing is available for high-volume users — contact partner@clarifyd.com.au for details.
No subscription is required. Clarifyd operates on a pay-per-check model — you only pay for the checks you run. For businesses with regular or high-volume requirements, volume and subscription plans are available. Contact partner@clarifyd.com.au for details.
All fees are transparent and upfront. After you've created your matter, our system will generate an itemised invoice for your review prior to payment. If you have any questions regarding the fees charged, please reach out to support@clarifyd.com.au.
Clarifyd has priced our services competitively to ensure that our customers will not be burdened by additional obligations. Please refer to your relevant code of conduct to determine if costs incurred by Clarifyd's services can be billed to your client. Legal professionals: QLD, NSW, VIC, ACT, NT, TAS, WA, SA
Once a report is published or after Clarifyd has commenced assessment on your matter, a refund is generally not allowed. Please reach out to Clarifyd at support@clarifyd.com.au.
Volume and subscription pricing is available for users with bulk check requirements. Please reach out to Clarifyd at partner@clarifyd.com.au and include 'SUBSCRIPTION' at the start of your subject.