First AML vs Flagship AML

Data last checked 20 July 2026 · how we compare

The verdict

Most firms should start with Flagship AML's confirmed, fully-priced platform; only firms with genuinely complex entity structures — trusts, layered corporates, offshore beneficial ownership — should sit through First AML's enterprise sales cycle. The two aren't pricing rivals in any comparable sense: Flagship publishes $73.37/month including GST, or $880/year including GST, with per-use DVS identity verification at $4.00 +GST and ASIC Current Company Extract searches at $15.00 +GST on top. First AML publishes no Australian pricing at all — it sells by quote on annual enterprise contracts, and the high-fee figures circulating in third-party reporting are unverified.

Coverage tells a similarly lopsided story, but for a different reason. Flagship's co-founder has confirmed nine of the eleven obligations we track in writing — program, ML/TF risk assessment, CDD, ongoing monitoring, SMR and TTR reporting, records, staff training and compliance-officer governance — leaving only AUSTRAC enrolment and independent evaluation Unverified, both of which sit outside any platform's remit. First AML's confirmed strength is narrower: customer due diligence, with ongoing monitoring and records rated partial. Everything else — program, risk assessment, reporting, training, governance — is Unverified for Australia, not because First AML lacks it but because it isn't documented on public pages.

What First AML brings that Flagship doesn't: years of production experience under New Zealand's equivalent Phase 2 regime, a specialism in the CDD that actually breaks simple platforms — trusts, layered entities, offshore ownership — and a managed verification service that takes the work off your desk rather than handing you a tool.

Decision rule: a small-to-mid firm with standard client files wanting one accountable, itemised subscription covering the full obligation stack → Flagship. A firm whose files are dominated by complex structures, prepared to pay enterprise rates and sit through a sales cycle for specialist depth and a proven managed-service option → First AML, with the coverage gaps confirmed in writing before signing. Figures verified July 2026 (Flagship); First AML remains quote-based and Unverified.

Side by side

	First AML	Flagship AML Featured
Pricing	enterprise / quote	From A$73 · subscription
Sectors	Legal practitioners, Accountants, Real estate, Trust & company service providers	Legal practitioners, Accountants, Conveyancers, Real estate, Trust & company service providers
AUSTRAC enrolment	Unverified	Unverified
ML/TF risk assessment	Unverified	Yes
AML/CTF program & policies	Unverified	Yes
Initial customer due diligence	Yes	Yes
Ongoing CDD & monitoring	Partial	Yes
Suspicious matter reports	Unverified	Yes
Threshold transaction reports	Unverified	Yes
Record keeping	Partial	Yes
Staff training	Unverified	Yes
Compliance officer & governance	Unverified	Yes
Independent evaluation	Unverified	Unverified

What actually separates them

Pricing transparency: Flagship publishes an itemised rate card ($73.37/mo incl GST, plus per-use DVS and ASIC fees); First AML is quote-only on annual enterprise contracts with no published AU pricing (Jul 2026).
Documented coverage: Flagship confirms 9 of 11 obligations in writing; First AML confirms only CDD, with ongoing monitoring and records partial and the rest Unverified for Australia.
Product shape: Flagship is software you operate; First AML offers a managed verification service that takes the CDD work off your desk entirely.
Complexity ceiling: First AML's centre of gravity is trusts, layered corporate entities and offshore beneficial ownership; Flagship targets the standard files of small-to-mid Tranche 2 practice.
Track record: First AML has operated for years under New Zealand's equivalent AML/CFT Phase 2 regime; Flagship is a newer, Australian-native operation.
Sector range: both cover legal, accounting, real estate and TCSPs; Flagship also lists conveyancing, where First AML doesn't.

Common questions

Which is cheaper, First AML or Flagship AML?

Only one side of that comparison is public. Flagship publishes its full pricing — $73.37/month including GST, or $880/year including GST, plus $4.00 +GST per DVS identity verification and $15.00 +GST per ASIC extract (flagshipaml.com.au/pricing; per-use fees confirmed in writing by Flagship AML, July 2026). First AML doesn't publish Australian pricing at all; third-party reporting describes a high annual enterprise fee, which we treat as unverified. For most firms the practical answer is that Flagship is the budgetable option — and if you take a First AML quote, use Flagship's published rate card as your anchor.

Which should a firm with complex trusts or layered entities choose?

Usually First AML. Complex customer due diligence — trusts, layered corporate entities, offshore beneficial ownership — is its confirmed strength, backed by years of operation under New Zealand's equivalent regime, with a managed verification service that can take the work off your staff entirely. Flagship's CDD is confirmed and runs on Australian Government DVS identity verification, but it's built for the standard client files of small-to-mid practice rather than genuinely complex structures.

Why does Flagship AML confirm so much more coverage than First AML?

Mostly because Flagship's co-founder supplied detailed written confirmation of its program, risk assessment, CDD, screening, reporting, training and governance functionality, which we verified and dated. First AML hasn't published or confirmed equivalent detail for its Australian offering, so those rows sit Unverified on our table — that means we haven't confirmed them, not that they're missing. See our methodology.