It sounds like the start of a bad joke, but for buyers agents it's a very real Tuesday. A client wants to buy through their family trust. Another is purchasing via a company. A third has an SMSF and a strong opinion about a duplex in Geelong.

Since AUSTRAC's Tranche 2 reforms kicked in on 1 July 2026, every one of those clients comes with homework. Checking an individual's ID is the easy bit. Working out who actually owns and controls a trust, company or super fund? That's where things get properly fiddly.

Good news: this month, BA ICON is launching AML entity checks for businesses, trusts and SMSFs, right inside the platform.

Why entities are the tricky bit

Under the AML/CTF rules, you don't just need to know who's sitting across the table. You need to know who's behind the entity they're buying with. That means beneficial owners, controllers, trustees and directors, all verified and recorded.

"Individuals are straightforward. Entities are where agents get stuck," says Simon Rose, Founder and CEO of BA ICON. "A discretionary trust with a corporate trustee and three beneficiaries isn't something you want to be untangling on a notepad at 9pm."

And these structures are everywhere in the buyers agent world. Investors love a trust. Business owners buy through companies. SMSF clients want help navigating a purchase with plenty of rules attached. If you work with investors, entity checks aren't an edge case. They're half your client list.

What the new checks do

BA ICON's entity checks let you verify companies, trusts and SMSFs in the same place you already run individual ID checks, linked directly to the client record. That means:

• One workflow for individuals and entities, not five browser tabs
• Results stored against the client, ready if AUSTRAC ever comes knocking
• Records kept in line with retention requirements, so nothing quietly disappears
• Your automations and checklists can prompt the right check at the right stage

"Compliance should be a step in your workflow, not a separate job," Simon says. "If it's built into the CRM you're already using, it actually gets done. If it lives somewhere else, it gets forgotten until it's a problem."

Compliance as a competitive edge

Here's the twist. Clients notice when you've got this sorted. A smooth, professional onboarding with proper checks says serious operator. A chaotic scramble for documents says the opposite.

"Buyers agents have worked hard to be seen as true professionals," Simon says. "AML is a chance to prove it. The agents who embrace it early will look sharper than the ones dragging their feet."

Get ahead of it

If trusts, companies or SMSFs make up any part of your book, now's the time to get your process locked in. Existing BA ICON clients can switch on entity checks this month, and new clients can get set up from day one.

Want to see entity checks in action? Book a demo and we'll walk you through it.