Open source intelligence and the fight against financial crime

AML Shield

28 Mar 2026

AUSTRAC’s starter kits have given a regulatory 'stamp of approval' to open-source Customer Due Diligence (CDD), including adverse media and PEP screening. This is a boon for small gatekeepers who are being brought into the AML/CTF regime under Tranche 2, including lawyers, accountants, conveyancers and real estate agents.

In addition to revolutionising AML compliance in Australia, this embrace of "open source" could be a possible solution for developing countries across the Asia-Pacific region.

Nathan Lynch discusses the possibilities.

Starter kits simplify the journey towards AML nirvana

AUSTRAC has released its groundbreaking AML/CTF program starter kits, designed to support gatekeeper professions as they prepare for Tranche 2 of Australia’s financial crime compliance regime. This is the first time any regulator worldwide has provided such detailed, practical guidance to designated non-financial businesses and professions (DNFBPs), including

No, you don't need to monitor transactions like a bank

One of the questions we often get from AML Shield users is: “What should my transaction monitoring system look like? Does it need to be perpetually scanning for suspicious transactions, like a bank?” This is one of the most confusing areas for smaller businesses — and understandably so. When most people

Read more

Starter kits simplify the journey towards AML nirvana

No, you don't need to monitor transactions like a bank