Smarter Identity Verification for Law Firms
With Tranche 2 AML/CTF reforms and VOI standards the pressure on law firms to manage risk is higher than ever. TrueVault replaces slow, manual checks with a secure automated solution.
- Mitigate Compliance Risk: Our user-initiated process automates customer due diligence, ensuring you're audit-ready for AUSTRAC and avoiding fines for non-compliance.
- Drastically Reduce Data Risk: Our selective disclosure model eliminates the need to handle or store sensitive documents, helping you comply with the Privacy Act and protecting your firm from data breaches.
- Defend Against Fraud Risk: Our biometrically anchored security verifies identities against official sources like the DVS, giving you an ironclad confirmation and protecting your clients from impersonation and fraud.
Transform risk from a burden into a competitive advantage with TrueVault.
Tranche 2 is Coming. Is Your Firm Ready?
The Australian legal sector is under pressure to protect against fraud, but the upcoming Tranche 2 AML/CTF reforms and existing Verification of Identity (VOI) standards from bodies like ARNECC are raising the stakes. Navigating these complex obligations requires a strategic approach to client verification, risk management, and record-keeping without creating a new administrative burden.
The traditional process is a major weak point. It creates unnecessary risk and liability by requiring your staff to manually handle and store sensitive client documents. This approach clashes with your legal obligations under the Privacy Act 1988 and exposes your firm to data breaches which can be costly and severely damage your reputation.
This is where TrueVault provides a modern, secure solution. We protect your firm and your clients by putting the individual in control of their information. Our verification process is user-initiated and controlled, so your clients only share what is absolutely necessary for the transaction. This selective disclosure reduces your liability and risk, as you never possess the sensitive data in the first place. The identity is then biometrically anchored to a verified signature, ensuring it's tied to a real person and checked against authoritative sources like the Document Verification Service (DVS) for an ironclad confirmation.
TrueVault isn't just a verification tool, it's the strategic advantage you need to navigate the new regulatory landscape, protect your clients, and accelerate your business.
Biometrically Locked
Simplify Know Your Client (KYC) / Verification of Identity (VOI)
No Document Storage
The TrueVault process removes the need to store personal documents. This reduces the risk of data breaches and helps protect your client’s sensitive information.
Instant & Reusable Credential
Create a verified digital credential in seconds and reuse it across all of your properties or agents - no repeated document uploads required.
Personal Data Control
Build trust by letting clients stay in full control of their personal data. They decide what to share, keeping their privacy protected while you stay compliant.