Summary 

This article will explain who First AML are, why we are contacting you, whether outsourcing AML is legal, and where the First AML offices are based.


TABLE OF CONTENTS



Who is First AML and why are they contacting me?


First AML is a specialised outsourced Customer Due Diligence (CDD) service provider operating in accordance with AML legislation for United Kingdom, New Zealand and Australian reporting entities. 


We fulfil AML compliance obligations on behalf of reporting entities (also known as relevant people, e.g. accounting firms, law firms, real estate agents, fund managers, etc.)


First AML transform the originally complex and administrative paper work to a much more effective and efficient online verification process with the support of a dedicated analyst and support team.




Is outsourcing customer due diligence obligations legal?


Reporting Entities such as Law Firms, Accountants, Financial and Real Estate Agencies can choose to outsource this work on their behalf.

Sections regarding outsourcing CDD services:


New Zealand - Section 34 of the AML/CFT Act 2009

Australia - Section 38 of the AML/CTF Act

United Kingdom - Section 39 of The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended)



Our analyst team receives cases from reporting entities who work with us and liaise directly with entities and individuals who are requested to be verified to obtain the information required to complete the CDD process according to the requirements of the Act/Regulations.



Where is First AML based?


New Zealand - Auckland Head Office


First AML's head office is 317 New North Road, Kingsland, Auckland 1010. Our product and engineering teams are based out of our New Zealand office. 


Australia - Sydney Office


First AML opened a Sydney office in May 2021. As of May 2022 we have 20 staff based in Sydney.


United Kingdom - London Office


First AML opened a London office based in Shoreditch, London on April 1st 2022.