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AML/CTF Program for Small Australian Businesses

AML/CTF compliance for small Australian businesses made simple (and free!)

Arctic Kickstart guides small Australian businesses through their ML/TF risk assessments and development of a compliant AML/CTF Program including policies and procedures - built specifically as an AUSTRAC-Starter Kit aligned, simple solution for accountants, lawyers, conveyancers, real estate professionals and other Tranche 2 entities.

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What is Arctic Kickstart?

Arctic Kickstart, was developed by Arctic Intelligence as an AUSTRAC-aligned AML/CTF Program development solution designed for businesses that meet the eligibility criteria are generally, Australian businesses in the accounting, legal, conveyancing, real estate, trust and company providers or dealers in precious metals, stones and products, with less than 15 employees who operate low complexity businesses, meaning, they do not regularly deal with high-risk customers or high-risk products and services.

The AUSTRAC Program Starter Kits are designed to assist small businesses meet their AML/CTF compliance obligations but comprise more than 300 pages of guidance, circular website references and over 20 forms and could be both daunting and time-consuming for small businesses.

Arctic Kickstart has been designed as an alternative option for smaller businesses that either want to be guided through the process to establish a more in-depth understanding of their ML/TF risks and the mitigating controls required to be documented in the AML Policy, with corresponding AML Procedures to operationalise them into practice.

Impacted sectors

Accountants

Lawyers & Conveyancers

Real Estate

Dealers in Precious Metals & Stones

How it works

Arctic Kickstart guides you through a simple step-by-step process and at the end produces an ML/TF risk assessment tailored to your business based on your industry, customer, product and service, channel and country risks, as well as and AML/CTF Program comprising policies and operating procedures including the AUSTRAC Program Starter Kit forms.

Arctic Kickstart guides you through the following step-by-step process and at the end of the process produces a downloadable ML/TF risk assessment and an AML/CTF Program, tailored to your business based on the answers provided.

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Step 1 - Eligibility Check

To determine if the Arctic Kickstart solution is suitable for your business (based on AUSTRAC criteria), you'll be asked a series of questions to determine your eligibility, based on the nature, size and complexity of your business.

Arctic Kickstart is our entry-level ML/TF risk assessment and AML/CTF Program platform and those that are ineligible or want to future-proof their business by implementing more tailored solutions can check out either the AML Accelerate Platform or Risk Assessment Platform.

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Step 2 - Enter Company Details

In this step you'll be asked to provide details about your company including: registration information, address, enrolment details, information about your business and your risk and governance structure and profile.

Steps 3 to 6 relate to different parts of the ML/TF risk assessment.  Prior to commencing customer risk assessment, the ML/TF methodology and risk assessment process is explained, as well as the relevant industry money laundering, terrorism and proliferation financing risks as outlined by AUSTRAC.

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Step 3 - Customer Risk

The customer risk assessment is designed around four key risk indicators: customer type, customer locations, customer industry sectors or occupations, and customer activity and behaviours.

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Step 4 - Product and Services Risk

The product and services risk assessment is based on the professional designated services, defined by AUSTRAC.

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Step 5 - Delivery Channel Risk

The channel risk assessment is designed around risk indicators such as onboarding channels and transaction channels.

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Step 6 - Country Risk

Arctic Intelligence has partnered with Know Your Country the market-leading provider of country risk data, which is updated more frequently than the other AUSTRAC suggested source, the Basel AML Index.

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Step 7 - Preview ML/TF risk assessment

This step allows you to review the completed ML/TF risk assessment before generating your AML/CTF Program in an editable word format.

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Step 8 - Generate the AML/CTF Program

The final stage in the process is to generate your AML/CTF Program in an editable Word format and you’ll receive the completed document straight to your inbox.

Zero-Cost Compliance

At Arctic Intelligence, we've been committed to helping regulated businesses to protect themselves against financial crime for over a decade. We are proud to offer Arctic Kickstart free to Australian businesses as our contribution to supporting smaller businesses to meet their compliance obligations.

Arctic Kickstart

$0
PER YEAR

Unlimited ML/TF Risk Assessments

Tailored AML/CTF Program

Emailed directly to your inbox

Fully editable AML/CTF Program (Word)

Get started for free
Download sample output

Key features

  • ML/TF/PF risk assessment and policies mapped to AUSTRAC Starter Kit guidance

  • Guided step-by-step process from eligibility checks, company details, risk assessment and generating the AML/CTF Program

  • Capture company details outlining the nature, size, and complexity

  • Country risk assessment automatically aligned to Know Your Country

  • Preview ML/TF risk assessment online before publishing

  • Generate AML/CTF Program and deliver straight to your inbox

Benefits

Arctic Kickstart is designed by experts to make AML/CTF compliance accessible, manageable and proportionate for small Australian businesses navigating these obligations for the first time.

Designed for businesses with no prior compliance experience

Many small businesses entering the AML/CTF regulatory environment for the first time have no dedicated compliance function, no in-house legal expertise and no prior experience navigating AUSTRAC's requirements. Arctic Kickstart is built with this in mind. Rather than presenting users with complex regulatory language or open-ended questions that require specialist knowledge to answer, the platform guides users through each step with clear, plain-English prompts.

Grounded in AUSTRAC's own frameworks and standards

Arctic Kickstart is not a generic compliance tool adapted for the Australian market, it has been developed specifically in alignment with AUSTRAC's Program Starter Kit framework and informed by National Risk Assessment standards. This means the risk assessment methodology, the program structure and the documentation your business receives are all grounded in the same frameworks AUSTRAC expects regulated entities to apply.

Complete your AML/CTF Program with peace of mind

Arctic Kickstart’s nine-step process will guide you through the end-to-end process, so that you don’t have to spend hours reading all the materials, allowing business owners and those responsible for compliance to document their ML/TF risk assessment and AML/CTF Program easily, delivering peace of mind.

Get your AML/CTF Program documentation instantly

Once your risk assessment is complete and reviewed, Arctic Kickstart generates your AML/CTF Program documentation and delivers it immediately to your inbox.

Developed by trusted financial crime risk specialists

Arctic Kickstart is developed by Arctic Intelligence, a specialist provider of financial crime risk management solutions with experience supporting regulated businesses across Australia and internationally. The platform draws on deep subject matter expertise in AML/CTF compliance, risk assessment methodology and regulatory expectations.

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FAQ

What is a Tranche 2 business and does this apply to me?
What documents will I receive at the end of the process?
Will I need to update my AML/CTF Program later?