Summary


This article will outline how First AML verify incorporated and unincorporated Clubs, Associations, Societies and Cooperatives under Australian, New Zealand, and United Kingdom AML legislation. 


*ID&V = Identity Verification (Identify & Verify)



TABLE OF CONTENTS





Incorporated: Australia


Who do we verify?


  1. Directors / officers / governing body / trustee / members

  2. Any other beneficial owners 25% +



What do we verify?


  1. Name, registered address, purpose, registration number. 

  2. Certified Constitutional documents (if applicable)

  3. Certified Rules held or financials

  4. Documents confirming directors / officers / trustees / beneficial owners.




Unincorporated: Australia



Who do we verify?


  1. Directors / officers / governing body / trustee / members

  2. Any other beneficial owners 25% +



What do we verify?


  1. Name, registered address, purpose, registration number. 
  2. Certified Constitutional documents (if applicable)
  3. Certified Rules held or financials   
  4. Documents confirming directors / officers / trustees / beneficial owners.




Incorporated: New Zealand & United Kingdom


Who do we verify?


  • Directors / officers / governing body / trustee 
    - ID&V all up to 4, if more than 4, First AML will ask them to nominate 1

  • Any other beneficial owners > 25%



What do we verify?


  1. Name, legal status, registered address, purpose, registration number. 
  2. Constitutional documents (if applicable)
  3. Rules held or financials   
  4. Documents confirming directors / officers / trustees. 
  5. Source of wealth/funds




Unincorporated: New Zealand & United Kingdom



Who do we verify?


  1. Directors / officers / governing body / trustee / members
    - ID&V all up to 4, if more than 4, First AML will ask them to nominate 1

  2. Any other beneficial owners >25%



What do we verify?


  1. Name, address, purpose, registration number. 
  2. Constitutional documents (if applicable)
  3. Rules held or financials   
  4. Documents confirming directors / officers / trustees.
  5. Source of wealth/funds



Nomination: New Zealand & United Kingdom



For incorporated societies/charities/clubs that have over four officers/trustees/board members, First AML will request a nomination from the case contact(s) to verify individuals who have day-to-day involvement or financial control.