Summary


This article will outline how First AML verify entities in liquidation or receivership under Australian, New Zealand, and United Kingdom AML legislation. 


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




TABLE OF CONTENTS




Detailed Description


When a receiver has been appointed to an entity, First AML will conduct CDD on the Receiver(s), Entity in receivership, and any other individuals with effective control e.g. liquidator.


What do we verify?


a) Basic Entity Information:

Name, address, and registration number 


b) If the directors have effective control over the liquidated company - First AML will verify the directors


c) If the shareholders are receiving any benefit from the liquidated company - First AML will verify the shareholders


d) Liquidator/Receiver - First AML will verify the individual/s. If the liquidator/receiver is a company, First AML will verify the directors.



New Zealand AML Note: 

If the reporting entity has been appointed to be a liquidator by the courts, CDD is not required. 



What do we collect?


a) Company extract (including page of shareholders & Directors). 

b) Record information on directors & beneficial owners.

c) All ID&V documentation for all directors (if applicable)

d) All ID&V Documentation for shareholders with >25% (if applicable)

e) Collect Appointment Deed/Court Order stating the receiver(s).