Setting up an AML/CTF reliance arrangement in the client portal

A reliance arrangement is a written arrangement, set up once and re-confirmed annually, that lets CoSec Partners rely on your firm’s customer due diligence instead of repeating it on every order. You complete it once for your firm; colleagues who sign in with the same firm email domain then see its status rather than a blank form, because the arrangement belongs to the firm, not to an individual user.

The form captures your firm’s details, whether you are a reporting entity, your AUSTRAC enrolment status and number, and the date of enrolment. It confirms that you maintain an AML/CTF program and perform initial and ongoing customer due diligence including beneficial ownership, and it records your AML compliance officer, a set of declarations, and an authorised signatory. We ask for your AUSTRAC details specifically so that we can verify your reporting-entity status rather than take it on trust.

If your firm has only recently started providing designated services and has applied to enrol with AUSTRAC within the required 28 days, you can submit with an enrolment-pending status and add your AUSTRAC enrolment details once confirmed. We will not approve reliance until we have verified your enrolment, and we may ask why enrolment is still pending.

An arrangement does not activate itself. A senior person at CoSec Partners reviews each submission and approves or declines it, recording the basis on which we are prepared to rely on your due diligence. This review is a deliberate control: because we remain responsible for forming a reasonable belief that the CDD is adequate, approval is a considered step rather than an automatic one. Once approved, the arrangement is active for twelve months.

The portal shows a countdown to your renewal date and prompts you to re-confirm the details each year, so reliance never quietly lapses without anyone noticing. You can also edit the arrangement at any time, for example when your AUSTRAC number is issued or your compliance officer changes; editing resubmits it for a quick re-confirmation and refreshes the twelve-month window once re-approved.

You will find the AML Compliance tab in the client portal once you sign in with your firm email address. With the arrangement in place, your company, trust, and SMSF orders flow through with a single confirmation rather than a full declaration on each order.