HOW TO USE VALITROS
Your AML/CTF program, from setup to audit ready records
Six steps from a blank page to a running, documented AML/CTF program for your Tranche 2 business.
1. Set up your AML/CTF program
Enter your business details, roles, risk appetite, services, client types and countries. Valitros generates draft program documents (risk assessment, policy and process document) from your inputs, based on AUSTRAC's program starter kit guidance for your sector. Read them, have your senior manager approve them, and every version is kept for your 7 year record. Already have a program? Upload it instead.
2. Add clients and their people
Add each client, and for companies and trusts add the people who must be verified: beneficial owners (25% or more), controllers, trustees and representatives. Corporate analysis can trace ownership structures from uploaded documents, including nominee arrangements.
3. Send forms and let the platform work
Each person receives a unique verification link. Every submission is automatically processed to assist your checks: ID document and face checks, screening against the DFAT Consolidated List (with the list version recorded), and AI risk indicators across money laundering, terrorism financing and sanctions. All results are inputs for your review, not a verification by Valitros.
4. Review, check and rate
Open the submission, review the identity check and screening results, and record your PEP and adverse media checks using the built in guided searches. Then set the risk rating yourself, under your own program. The platform will not let a client be rated or approved until the checks are recorded.
5. Handle high risk clients properly
High risk clients require enhanced due diligence before approval: source of funds, source of wealth and nature and purpose checks, plus a recorded senior manager decision. Anything suspicious can be escalated to your compliance officer with tipping off protections built in, and reports are lodged by you on AUSTRAC Online.
6. Approve, export and keep records
Approve once your checks and rating are complete, export sanitised audit reports for your files, and let the platform keep everything for 7 years: verifications, screenings, checks, decisions, escalations and every version of your program documents. Periodic reviews are scheduled automatically from your own policy settings.
Who is responsible for compliance?
Responsibility for compliance always sits with you and your Tranche 2 business. Valitros assists you to operate your own AML/CTF program, helping with collection, verification, screening, suggestions and record keeping, but it does not itself verify any person, document or fact. Every rating, approval, report and program decision remains yours, made under your own program. Valitros does not provide legal or compliance advice and does not guarantee compliance with any law.