Summary


This article will outline how First AML verify Charities/Charitable Trusts under Australian, New Zealand, and United Kingdom AML legislation.  


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




Australian, New Zealand, & United Kingdom:


Who do we verify?

  1. Trustees

    1. ID&V all.

    2. If non-individuals ID&V directors or equivalent of that entity.

    3. If there are more than 4 directors/trustees then First AML ask for 1 to be nominated

  2. If Appointer/Protector has the power to add and remove Trustees, ID&V them.



What do we verify?


  1. Full name, type of trust, registered address.

  2. Nature & Purpose of the Trust

  3. Collect the objects of the Trust e.g. Beneficiaries

  4. Charity Summary or equivalent 

  5. Copy of the Trust Deed or Rules + latest amendment deed if applicable

  6. Confirm list of current trustees via email with the main contact (If the charity register has not been updated in some time, or is not reflecting current trustees)

  7. New Zealand AML: source of wealth/funds