Run client due diligence at engagement, verify beneficial owners of business clients, and screen your whole client book as Tranche 2 obligations take effect.
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Accounting practices handle company formations, trust structures, tax advice, and client money, which makes them attractive to anyone trying to move or disguise funds. Tranche 2 reforms bring accountants, tax agents, and bookkeepers into the AML/CTF regime, so a firm that has never run formal customer checks now has to verify clients, screen them, and keep records that stand up to review.
The practical difficulty is that a firm's client book is a mix of individuals, companies, and trusts built up over years. Meeting the new obligations means running due diligence at engagement, understanding who owns and controls each business client, and keeping every existing relationship under review rather than checking once and forgetting.
MemberCheck fits this into a workflow a practice can actually run: verify and screen at engagement, map beneficial ownership for entity clients, and re-screen the whole book as watchlists change, with the records retained and ready for audit.
Verify identity and screen new clients before you accept an engagement, so onboarding checks are documented from the first billable hour. Configurable matching keeps false positives low across a mixed book of individuals and entities.
Trace ownership and control of company and trust clients to identify the people behind the entity. MemberCheck surfaces UBOs so you understand who you are actually acting for.
Re-screen every existing client as sanctions and PEP lists change, not just at onboarding. Long-standing clients are reviewed automatically when their risk profile shifts.
Escalate higher-risk clients into deeper review with adverse-media checks and source-of-funds evidence. Findings and decisions are captured against each client file.
Retain screening results, risk ratings, and decisions with a full history that satisfies AUSTRAC-style recordkeeping obligations. Records are exportable for audit or regulator request.
Yes. The Tranche 2 reforms extend AML/CTF obligations to accountants, tax agents, and bookkeepers providing designated services, requiring client due diligence, screening, and reporting.
Yes. MemberCheck supports KYB workflows that map ownership and control structures so you can identify and screen the beneficial owners behind a business client.
Yes. Batch screening lets you run your full client list against sanctions and PEP data, and ongoing monitoring re-screens those clients as the lists change.
You should retain identity evidence, screening results, risk assessments, and decisions. MemberCheck stores these against each client with an exportable audit trail.
Book a walkthrough with our compliance team and screen a real case in the first session.
