Leading by Example: How Confidant Partners is Preparing for AML/CTF Tranche 2

When professional advisors help clients navigate regulatory change, their own compliance approach matters. Here's how Confidant Partners www.confidantpartners.com.au is implementing the same rigorous standards they recommend.

Australia's AML/CTF Tranche 2 reforms take effect in July 2026, bringing approximately 90,000 new businesses—including lawyers, accountants, and real estate professionals—into the regulatory framework for the first time.

At VerifiMe, we're privileged to work with forward-thinking professional services firms who understand that regulatory readiness isn't just about compliance—it's about demonstrating the governance maturity they advise their own clients to adopt.

Confidant Partners is one such firm!

The Advisory Firm's Dilemma

Confidant Partners works with boards, executives, and compliance teams to to navigate the rigours of building and growing a company. As both an outsourced Company Secretarial Services and Legal advisory firm, they are well equipped for understanding regulatory change.

But here's the thing: when you're advising others on regulatory readiness, your own compliance approach gets scrutinised. Your clients expect you to walk the talk.

As Tranche 2 approached, the Confidant team recognised an opportunity—not just to meet new requirements, but to strengthen their client experience while demonstrating the proactive governance they recommend.

What Tranche 2 Actually Requires

The new regime goes well beyond traditional proof of identity checks. Professional services firms will need to:

• Conduct customer due diligence with government-verified documentation

• Perform beneficial ownership verification for corporate entities

• Screen clients against PEP and sanctions lists

• Implement ongoing monitoring and update client records

• Report suspicious matters to AUSTRAC when required

• Maintain auditable compliance records for seven years

For firms handling sensitive client matters, these requirements touch every aspect of client onboarding and relationship management.

Why Confidant Chose VerifiMe

Rather than treating Tranche 2 as a paperwork exercise, Confidant Partners saw an opportunity to enhance their client experience while building a robust compliance infrastructure.

They chose to integrate VerifiMe's shareable identity platform directly into their onboarding process—the same technology and approach they're recommending to clients facing similar regulatory challenges.

What this delivers:

For Confidant's clients:

• Streamlined digital verification that takes minutes, not days, whether individual or organisational checks

• Secure, shareable credentials their customers can reuse across VerifiMe-enabled professional services firms

• No repetitive identity checks for ongoing engagements

For Confidant's team:

• Government-verified documentation via DVS and biometrics for high-level assurance of identity

• Automated compliance workflows based on current compliance and future Tranche 2 needs

• Built-in ongoing monitoring and compliance reporting

• Less time on administrative process, more time delivering strategic advice

For their governance:

• Complete audit trails and secure Australian-hosted data

• Confidence in meeting AUSTRAC requirements from day one

• Demonstrable compliance maturity when advising clients on the same challenges

Walking the Talk

Managing Director and Founder David Huang commented, “we advise clients on governance maturity, integrity, and proactive risk management. Implementing VerifiMe allows us to demonstrate those same principles in our own operations."

They're not waiting until 2026 to plan this out—they're building robust processes now that position both their firm and their clients for the regulatory landscape ahead.

What's Next for Confidant

Confidant Partners is rolling out VerifiMe across their client onboarding over the coming months. Their clients will receive clear guidance and email invitations as the firm transitions to the new system.

It's exactly the kind of measured, proactive approach we built VerifiMe to enable—regulatory compliance that strengthens client relationships rather than creating friction.

About This Partnership

We're proud to partner with Confidant Partners as they prepare for Tranche 2 and build compliance infrastructure that serves both regulatory requirements and client experience.

If your professional services firm is preparing for the July 2026 deadline and wants to understand how shareable identity can streamline compliance while improving client onboarding, let's talk.