KYB (Know Your Business) is the automated business verification Nagaris runs on a company or other business client through CreditorWatch, using the client's ABN or ACN. It pulls company details, officeholders, credit and risk data, beneficial ownership and cached PDF reports into an AML profile you can assess. KYB must be enabled for your organisation (in addition to AML). If you don't see it, contact support to turn it on for your firm.
The client needs an ABN or ACN recorded on their details. Without one you'll see ABN or ACN required (Add an ABN or ACN to this client's details before running a KYB check.) and the buttons are disabled.
Go to Clients and open the business client, then open the AML tab (business clients only, an individual's AML lives on their contact page).
Click Start KYB (or, if there's an open session, Continue KYB, Re-run KYB or New Session).
The Run KYB dialog asks which CreditorWatch products to fetch. Each is billed separately by the provider; prices are shown ex GST with a running Estimated Total (ex GST):
ASIC Details, company details, officeholders, and the ASIC company-extract PDF. Choose an Extract Type: On File ($9.00, the cached ASIC record and cheapest option), Current Extract ($18.00, a live current extract), or Current & Historical Extract ($29.00, current details plus the full history of company changes).
UBO Report, beneficial ownership traversal with a cached ownership-report PDF. Choose Standard ($49.00) or Advanced (price on request) for complex or international ownership chains.
Credit Report, the CreditorWatch credit report including risk score and defaults, with a cached PDF ($19.00).
Click Run KYB.
The default selection is ASIC (On File) only, add the credit report and UBO report when the risk warrants the spend. You'll see KYB run started, refresh in a moment to see results and land on the client's KYB tab. The same check can also be started or re-run from the AML profile's KYB tab.
A KYB check is not instant. While it runs:
A banner shows KYB is running in the background, this usually takes under a minute. Results will appear here automatically, no need to run it again.
The Re-run KYB button is disabled and shows Running…, so you can't accidentally start a duplicate run.
If you navigate away and come back mid-run you'll see the same banner rather than an empty tab.
Once the run completes, the KYB tab fills with cards:
Business Entity, entity name, registration Status (Registered, Deregistered, External Administration, Strike-off in Progress or Unknown), ABN/ACN, legal type, registration (and any cancellation) date, trading and previous names, employee count, GST registration, ANZSIC industry code, registered office and business address, and when the report was Last Refreshed.
Credit & Risk, the credit score ring with rating (plus a trend sparkline when history is available), risk score, payment predictor, and counts for Court Actions, Defaults, Insolvency Notices and Mercantile Enquiries. Zero shows as a reassuring None (checked, nothing found); non-zero counts expand into itemised lists. Serious flags, Under external administration or ATO tax default reported, appear as a red Risk flags alert. A Monitoring: Active row confirms the entity is subscribed to CreditorWatch monitoring, with alerts surfacing on the profile Timeline.
Credit Report, ASIC Report and UBO Report, cached PDF downloads for whichever products you fetched, each with its report ID.
Ultimate Beneficial Owners, Share Capital, Directors, Secretaries, Officers and Shareholders, see the separate article on beneficial owners and trusts.
On the AML profile itself, business subjects use a shorter three-step pipeline, KYB, Assessment, Complete, and the auto risk factors for the assessment are drawn from these CreditorWatch findings.
Re-run KYB refreshes the data on the current session using the same options dialog, useful before a periodic review. New Session starts a fresh AML profile (Nagaris confirms: The current open session will stay on file for audit purposes.). A Cancel KYB Assessment action on the profile Overview closes the session; CreditorWatch monitoring stays subscribed and existing KYB data is preserved. Both actions live in the same session actions menu (the kebab button) as Mark as Not Required, below.
Not every business client needs full KYB, for example a trust with no ABN/ACN that you've decided to assess manually, or an entity outside your AML/CTF obligations. You can record that decision instead of leaving the client with no AML activity:
On the client's AML - Know Your Business card, click Set as Not Required (this is available whether or not a KYB session has been started, as long as the current one isn't already complete or cancelled). From an open AML profile you can also use Mark as Not Required in the session actions menu on the Overview.
Enter a Reason, this is required.
Optionally attach supporting evidence files.
Click Save to confirm.
The client's CDD status becomes Not Required. The reason, who recorded it, the date, and any attached evidence are shown on both the client's AML card and the profile's Overview. It isn't a dead end, the card still offers Start KYB (or Add to AML for clients without an ABN/ACN) if circumstances change and you need to run a real check later.
If a run fails you'll see Last KYB run failed. Where possible Nagaris now shows a curated, specific explanation of what went wrong (for example an invalid ABN/ACN or a provider issue with a particular product) along with a note that you can re-run from the KYB tab. If no specific reason is available, you'll see the generic message: The most recent business verification attempt did not complete. Re-run to retry, or contact support if it keeps failing. Nagaris deliberately never displays the raw provider error text, since it can echo back sensitive details; support can still look up the full detail via Django admin if needed.
Business profiles have no Screening tab, only the entity itself is verified. Screen the people behind it via individual KYC sessions.
The KYB tab only appears for business clients in organisations with KYB enabled; the AML profile shows Not a business profile if you open a KYB link for an individual.
Mark as Not Required and Cancel KYB Assessment only appear while a profile is still active. Completed, cancelled and already-not-required profiles are terminal and hide these actions.
