TrustSoft
TrustSoft positions AML/CTF compliance as an add-on module to its core trust accounting platform, making it structurally different from standalone AML software. The product explicitly supports DVS (Digital Verification Service) integration for identity verification. Two separate pricing lists, one for trust accounting and one for AML/CTF, require customers to evaluate cost for both components to
Checked 8 October 2026
Where it is stronger
Capabilities verified here that fewer than half of comparable offerings are verified on. Worked out from the data, not written by hand.
- Program maintenance and review2 of 16 others
- Enhanced due diligence4 of 16 others
- Document Verification Service (DVS) access4 of 16 others
- Threshold transaction reporting5 of 16 others
- Adverse media screening7 of 16 others
- Suspicious matter report workflow7 of 16 others
- Evidence pack export7 of 16 others
Where it is weaker
Recorded with the same care as the capabilities, and not softened.
- Partly meets the Tranche 2 measure: Risk assessed per designated service.Vendor states its risk assessments cover products, services, geographies and client types, with a pre-configured real estate risk assessment. Assessment per designated service is not described.
- Partly meets the Tranche 2 measure: Versioned AML program and CDD records.Vendor states all plans include AML/CTF draft policy and version control. No statement found on versioned CDD records.
- Partly meets the Tranche 2 measure: Escalation to AMLCO or manager with outcome recorded.Vendor states escalations and compliance manager approval are built in. Recording or notifying the outcome is not described.
- AML/CTF is a module within trust accounting software, not a standalone product.
- Pricing is structured as two separate subscriptions (trust accounting + AML/CTF), adding complexity to procurement.
- SMR export format is described as 'AUSTRAC reporting area with templates' but the actual format (XML, PDF, or other) is not confirmed.
- DVS (Digital Verification Service) is explicitly offered as an integrated capability; no third-party verification provider is named.
Statement of capabilities
Every tracked requirement for AML/CTF & Financial Crime, shown whether or not we could establish it.
- Verified
- Partial
- No
- Not established
1Program & Governance
4 of 5
- 1.1AML/CTF program creationVerified
- 1.2AML risk assessmentVerified
- 1.3Program maintenance and reviewVerified
- 1.4Independent evaluation support (s84)Not established
- 1.5Staff trainingVerified
2CDD & Entity Work
4 of 5
- 2.1Customer due diligenceVerified
- 2.2Know-your-business (entity checks)Verified
Sold as online company beneficial ownership checks against ASIC, bundled by volume with the identity checks.
- 2.3Beneficial ownership and controlVerified
- 2.4Enhanced due diligenceVerified
- 2.5Reliance arrangementsNot established
3Identity Verification
3 of 3
- 3.1Electronic identity verificationVerified
- 3.2Biometric liveness and face matchVerified
- 3.3Document Verification Service (DVS) accessVerified
4Screening & Monitoring
2 of 4
- 4.1PEP and sanctions screeningVerified
- 4.2Adverse media screeningVerified
- 4.3Ongoing customer monitoringNot established
- 4.4Automated transaction monitoring (bank-style rules)Partial
Vendor states transaction monitoring runs through trust account bank feeds and payments, and through recording of suspicious activity. Automated pattern or rule-based detection is not described, and the scope is the trust ledger.
5Tranche 2 Operations
0 of 7
- 5.1Risk assessed per designated servicePartial
Vendor states its risk assessments cover products, services, geographies and client types, with a pre-configured real estate risk assessment. Assessment per designated service is not described.
- 5.2Ongoing monitoring triggered by designated service and riskNot established
- 5.3Program obligations calendarNot established
- 5.4Versioned AML program and CDD recordsPartial
Vendor states all plans include AML/CTF draft policy and version control. No statement found on versioned CDD records.
- 5.5Escalation to AMLCO or manager with outcome recordedPartial
Vendor states escalations and compliance manager approval are built in. Recording or notifying the outcome is not described.
- 5.6Expired document alertsNot established
- 5.7Reliance CDD requests sent and receivedNot established
6Reporting & Control
2 of 4
- 6.1Suspicious matter report workflowVerified
- 6.2AUSTRAC SMR XML exportNot established
- 6.3Tipping-off controls (s123)Not established
- 6.4Threshold transaction reportingVerified
7Evidence & Extensibility
1 of 3
- 7.1Evidence pack exportVerified
- 7.2Immutable audit logNot established
- 7.3API accessNot established
- 7.4Where customer data is storedNot established
- 7.5Where customer data is processedNot established
Integrations
- Xero
- 50+ Australian banks
- DVS (Digital Verification Service)
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AML/CTF software and services support compliance with the AML/CTF Act and Rules. Nothing on this page is legal advice, and no provider is certified, endorsed or approved by AUSTRAC unless independently evidenced.