May 13, 2021
Business News

Anti-Money Laundering Startup First AML Launches Australian Operations

SYDNEY–()–Anti-money laundering tech startup First AML has launched in Australia after experiencing increased demand from the nation’s growing VC community for solutions that help them manage compliance requirements.

The second tranche of AML legislation is expected to hit Australia within the next two years, but First AML is already gaining traction in the market, with several of the country’s top venture capitalist firms using the platform. Under the current Tranche 1, in Australia there are 15,000 reporting entities. This number will exceed 100,000 under Tranche 2 when AML compliance becomes mandatory for lawyers, accountants and real estate agents. First AML is gearing up for growth in the market by…

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