Simplified verification is generally permissible when a client is identified as low risk. The following provides a high-level overview of the applicable circumstances.



Australia

In Australia, Simplified verification is generally permissible where the client is:

  • a government department;

  • a publicly listed company, or subsidiary of a publicly listed company which has more than 50% shareholding in the client; or

  • A company that is licensed and regulated by a government regulator.

Please see the full list of qualifying entities in the AML/CTF Rules Instrument 2007 4.3.8.



New Zealand

In New Zealand, Simplified verification is generally permissible where the client is:

  • a government department;

  • a publicly listed company, or subsidiary of a publicly listed company which has more than 50% shareholding in the client; or

  • a crown entity.

Please see the full list of qualifying entities in the AML/CFT Act Section 18(2).



United Kingdom

In the United Kingdom, Simplified verification is generally permissible where the client is:

  • a publicly listed company or a public administration; 

  • an individual of a low-risk geographical area; or

  • a company which is listed on the regulated market.

Please see the full list of qualifying entities and factors in the MLR 2017 Regulation 37(3).