Summary


This article will outline how First AML verify Iwi organisations under New Zealand AML legislation. 


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



Who do we verify?


  1. Trustee / Director or equivalent

    1. Must ID&V all, if more than 4 nominate 1

    2. Non-individual trustee, ID&V all directors or equivalent of that entity.

  2. Beneficiaries 

    1. Individual: ID&V all beneficial owners holding >25% 



What do we verify?


  1. Name, address, and registration number with NZ Companies office, or Charities Commission, or Legislation

  2. Confirmation entity is PSGE / MIO / IAO / Maori Trust board being named in either;

    1. Deed of settlement

    2. Schedule 4 of the Maori Fisheries Act 2014

    3. The Maori Trust Board Act 1995

  3. Trust deed or equivalent documentation

  4. Source of wealth/funds

  5. If information not available can be verified via email/letter confirmation lawyer or accountant.