For over two years now we have been completing Customer Due Diligence on our clients to meet our Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) obligations, to help prevent criminals disguising the illegal origins of their money. This has been a learning curve for us all and as our requirements have evolved over time.
Identification we obtained from you in the past may not meet the AML/CFT requirements. For example, you may have provided us with a Driver Licence to complete a land transaction, but on its own a Driver Licence does not meet the AML/CFT requirements. There are also requirements for us to complete Due Diligence on you in a timely manner, if there are delays we may need to stop working with you until we have conducted Due Diligence.
This year we started using APLYiD, a software solution that verifies your name, date of birth and address, and does a politically exposed person check, all from the comfort of your home or office. APLYiD technology uses your smart phone to take a photo of your Driver Licence or Passport, collect your address and take a short video of you. It matches your details to a range of trusted data sources and sends us a report all within a few minutes.
A successful APLYiD data match means you do not need to bring your original identification and proof of address into our offices before we start working with you. There are occasional exceptions, e.g. a recent address or name change, which may mean APLYiD cannot match you so we may need you to provide some information to us directly.
If you receive a text saying “Mortlock McCormack Law needs to verify you…” click on the link and follow a few easy steps to complete our Customer Due Diligence. If you have any questions, contact the staff member you have been dealing with and they will let you know what is required.
For more information about our AML/CFT policy refer to the Anti-Money Laundering Policy on our website.