Business type
Conveyancing
A conveyancing case is the client’s purchase or sale. You act for one side, so that side is checked in full and the other side is recorded as a counterparty. Legal practices that do conveyancing follow these rules for their conveyancing matters.
For eAML customers. The full detail of every rule, with the rule numbers, the questions each form asks, and recordings and screenshots of the screens, is on the rules site: rule.eaml.com.au.
Checks, questions and documents
What eAML adds to each person’s card, stage by stage, and when.
62 rules
What raises risk
Each risk factor: what rates it, and what is asked for because of it.
47 risk factors 87 rules
After a higher rating
The extra steps once someone is rated medium or high risk.
3 rules
Good to know
- You act for one side of the matter. That side is checked in full. The other side is recorded as a counterparty, and nothing is asked of it.
- The buyer’s checks start when contracts are exchanged; the vendor’s start when the vendor is added.
- A law firm that does conveyancing follows these rules for its conveyancing matters.
Designated services
A case is opened for one of these.
- Real estate transactions and conveyancing (item 1)
Where a case goes
Each person on a case has a card with these stages, in this order. The names are the ones on the screen.
- Customer identification — Who they are: the identity check, the ID document, proof of address. 12 rules
- Beneficial ownership — Who owns or controls a company or trust, and how complicated the structure is. 4 rules
- Property & corporate records — Title, rates and registration records for the property or the entity. 2 rules
- Financial & legal papers — Lenders, bank statements, source of funds and source of wealth evidence. 17 rules
- Customer due diligence — The background questions every customer is asked. 3 rules
- Enhanced due diligence — The extra steps for a customer rated higher risk. 3 rules
- Sanctions, PEP and adverse media — Watchlist screening and the country check. 7 rules
- Risk scoring and tiering — The overall rating, the factors behind it, and the officer’s decisions. 8 rules
- On the case — Checks on payments and the property, and the case-level banner. 6 rules
When eAML looks at its rules
| When a case is opened | 2 rules |
|---|---|
| When someone is added to the case | 17 rules |
| When a person’s details change | 1 rule |
| When owners or officers are recorded or changed | 2 rules |
| When a bank account is added | 2 rules |
| When the property is saved | 4 rules |
| When contracts are exchanged | 11 rules |
| When a question is answered | 73 rules |
| When a check result comes back | 28 rules |
| When a payment is recorded | 8 rules |
| When someone is rated medium or high risk | 3 rules |
| When a suspicious matter report is made | 1 rule |