Adding and Managing Entities (Company) in easyAML

Learn how to add an Australian legal entity (business, company or entity with an ABN or ACN) in easyAML, then identify the individuals who ultimately own or control it. Every Australian entity with an ABN or ACN should be added here so it is ready to be linked to a transaction.

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Step-by-step guide

Australian Legal Entity Registration

1. Select the Entities menu in the left sidebar. Any time an Australian legal entity (Business, Company or Entity with an ABN or ACN) is involved in a matter - a company buying property, a SMSF as the purchasing vehicle, a corporate trustee, a partnership - it needs to be added as an entity so it can be tagged to a transaction.
2. Select Add Entity to begin the KYB process (open directly). Unlike adding an individual, adding an entity triggers a KYB - Know Your Business - rather than a KYC. The KYB doesn't just verify the entity itself; it unwraps the ownership structure to identify the natural persons who ultimately own or control it. AUSTRAC's CDD obligations don't stop at the entity - they require you to trace through to every individual who has control or holds 25% or more direct or indirect ownership.
3. Select the entity type - Australian, Trust or International. The type matters because the verification path differs for each. A company is verified against ASIC directly and the ownership structure is unwrapped automatically. A trust can't be verified against a public register - trusts aren't externally registered - so the trust deed is the authoritative source and will need to be uploaded. International - requires knowing which jurisdiction the legal entity is registered in.\ \ In this case we are looking at Australian Legal entity which has an ABN or ACN - so we click on the Australian box.
4. Enter the Business, company or entity name, ABN or ACN and the platform queries ABR & ASIC in real time - pulling an exact match where ABN/ACN matches and a list of potential matches if you provided a name. It will show you details about the entity such Legal Name, ABNs, ACNs, SA (Registed office), and Entity Type\ \ Review and confirm the entity you want to do a KYB on by clicking on that record
5. Review the entity details provided, update the Trading Name box if different, select the Industry (its generally easiest to 'Ask Amelie" to do an AI industry lookup for you), adding a Group if needed, then select Create entry when everything is correct. Once you press this you will be charged for all legal entities that are unwrapped at your standard KYB rates.
6. The platform now automatically traces the ownership chain - following each branch until every line terminates in a natural person(s). This is the unwrap. Each corporate layer in the chain is a separate KYB. The default unwrap depth is three layers, which covers the vast majority of Australian structures. The unwrap stops automatically once every branch resolves to a natural person, so you're only charged for the layers that actually exist.
7. Once complete, the entity's profile is created in easyAML - showing its verified details, ownership structure, and current status. This is the record the rest of the compliance process runs against. From here, the entity can be tagged to transactions and its ongoing ASIC monitoring begins automatically. Future director, shareholder, or status change at ASIC will trigger an alert to your Compliance Officer.
8. If you want to see the ownership structure click on Ownership section in the sidebar - this will then provide a graph link the relationships and any missing information such as further entities to unwrap or trustees of trusts. The default "Ownership Threshold' is set at 25% required to identify Ultimate Beneficial Owners (UBOs) - to see more or less detail you can move the threshold slider between 0-100%.
9. Navigate to the UBOs tab inside the entity profile. This is where the platform displays every individual identified through the unwrap as an Ultimate Beneficial Owner - the natural persons who own 25% or more of the entity or exercise effective control over it. Each of these individuals needs to go through a KYC before the entity's CDD is complete. AUSTRAC's obligations don't end with verifying the company - they end when every person behind it has been identified and verified.
10. For each UBO listed, you'll need to send a KYC verification. If any of them are already in your records from a previous matter and are within the two-year validity window, their existing verified profile links across automatically - no double-handling. To request their KYC - click on the Verify button for each individual. For anyone new to the system, follow the steps in our companion guide on Adding an Individual to understand in detail about sending their verification link and completing the KYC process.
11. Once all UBOs have been verified, the platform updates the entity's risk rating to reflect the full picture - the entity's own profile combined with the risk levels of the individuals behind it. The entity is now active in easyAML and ready to be tagged to transactions. To find it later, use Entities \> List Entities - this is where you'll see every entity in your records, their verification status, and any items flagged for follow-up. That covers adding a company in easyAML. For trusts, SMSFs, and more complex structures, check out our companion guide on Adding a Trust.