Amended Identity Verification Code of Practice 2013
Aim: To ensure reporting entities are aware of the Identity Verification Code of Practice and are able to comply with the customer due diligence requirements prescribed by Sections 16, 20, 24, and 28 of the AML/CFT Act 2009.
Outcome: By the end of this module reporting entities will:
- Understand the requirements of conducting identity verification (including verification of documents and of electronic material).
- Understand the difference between document verification and document certification.
- Identify the correct wording to use when undertaking face-to-face document verification.
- Understand who are ‘trusted referees’ for the purposes of document certification.
Abstract: This module is for reporting entities conducting name and date of birth identity verification on customers that have been assessed as ‘low to medium risk’. This module does not apply to identity verification of customers assessed by reporting entities to be high risk, or customers that are not natural persons.