Glossary / Verification & identity
Business Verification
Business verification confirms that a business is real, legally registered, and controlled by the people it claims, using sources such as the Australian Business Register and ASIC records.
What does business verification prove?
Business verification pulls together several checks into one answer: is this organisation real, is it legally registered, and are the people behind it who they claim? In Australia the authoritative sources are the Australian Business Register for the ABN and the ASIC register for company details, directors, and status. It goes further than a single lookup by tying the entity back to the individuals who control it. A concrete example: a new supplier submits an ABN, a trading name, and a set of bank details. Business verification confirms the ABN is active, the ASIC record matches the trading name, and the contact you are dealing with is genuinely connected to that entity, not an impersonator using a real company’s identity.
Why it matters for Australian finance teams
Most supplier fraud starts with a business that is not what it appears to be: a ghost vendor, a deregistered company, or an impersonator riding on a legitimate firm’s name. Verifying the business at onboarding, and again when details change, keeps fake entities out of the vendor master file and the payment run. It also supports the business identification expected under AML/CTF due diligence overseen by AUSTRAC.
How ezyshield helps
ezyshield confirms the person, the business via ABN and ASIC records, and bank account ownership before money moves, so a supplier is verified as a real, registered entity linked to the account you are paying. If details change, any change triggers re-verification, and every check is written to an append-only audit trail, logged and never edited or deleted. See how it works and our guide to supplier verification in Australia.
Also known as: verify a business, company verification
Last updated: 7 July 2026
Related terms
- ABN Verification ABN verification confirms that an Australian Business Number is valid, active, and registered to the business you are dealing with, using the Australian Business Register.
- ACN Verification ACN verification confirms that an Australian Company Number is valid and matches a company registered with ASIC, so you can be sure the entity legally exists.
- Know Your Business (KYB) Know Your Business (KYB) is the process of verifying a business customer or supplier, including its ABN, ACN, ASIC registration, and beneficial owners, before you transact with it.
- ASIC Check An ASIC check looks up a company's registration details in the Australian Securities and Investments Commission register to confirm it exists, is current, and matches who you are paying.
See also: Supplier verification in Australia , Know Your Business (KYB) in Australia , ABN verification before payment
Stop payment fraud before money moves
Verify the person, business, and bank account before any payment leaves your account.