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For company/trust onboarding where the trust deed isn't yet in easyAML, what should the user do?

Upload the deed to the trust KYB and easyAML's trust reader then extracts the parties for review.

Upload the deed to extract the required parties automatically. The trust KYB pauses on the deed because trusts aren't on any external register - the deed is the authoritative source, and there's no way to automate the data extraction with full reliability until the deed has been read by easyAML trust reader.

The current workflow:

  1. Upload the trust deed - PDF, scanned document, or the original signed copy as a file. Stored in the platform alongside the KYB transaction with the 7-year audit retention.
  2. Run the trust reader to extract the parties identified in the deed:
    - Trustee(s) - the legal owner of trust assets. Can be a person or a corporate trustee (which is then KYB'd as a separate layer).
    - Appointor/principal/guardian - the person with the power to hire and fire the trustee. Usually the most controlling role.
    - Beneficiary classes and named beneficiaries - "the children of John Smith" is a class; named adults with substantial entitlement are individuals you may need to KYC.
    - Settlor - where named and where reasonably identifiable. If the settlor has no control over trust, document and note further KYC isn't needed.
  3. KYC links go out to the natural-person controllers identified.
  4. Each unwrapped trust layer is a separate KYB at the standard fee.

esayAML trust-deed reader. The platform provides an AI-assisted extraction of trustees, appointor and beneficiaries from the uploaded deed text. The reader pre-fills the manual fields and the user reviews / confirms.

For nuance on which beneficiaries to identify, see "When a discretionary trust is involved, who needs to be KYC'd?" and the related questions in Section 3. AUSTRAC's Trust and corporate services designated services page is the underlying framework.

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