IDENTITY CHECKS

With our AML self service tool the power is in your hands. 

 

Watch the video below and see how easily you can verify your customers identity. 

AML Self Service Tool 

Use our new tool when you want instant results.

Our self service AML identity verification tool is as easy as 1, 2, 3:

  1. Enter your details into the AMLOnline Portal or get the customer to do it themselves with our online form.

  2. Their details are run through reliable and trusted data sources.

  3. The report is instantly delivered to your Compliance Officer.

Trusted and secure, we are the first AML outsource provider to be awarded the Privacy Trust Mark. ​​

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Like What You See

Call us on 0800 115 121 to get started or contact us to find out more.

Why Identity Checks Are Important

It's estimated that over $1 billion a year comes from drug dealing and fraud, and this can be laundered through New Zealand businesses, risking our reputation and economic strength. The Anti Money Laundering and Countering Financing of Terrorism Act 2009 was passed to protect New Zealand and everything we love about it.
 

Money laundering is carried out by hiding identities. The essence of the AML law is to see through these layers to find out who is behind the funds, and where they come from.
 

This all means you are required to identify yourself and show who the 'controlling mind' is of artificial persons (companies, trusts and so on), and you will sometimes be required to demonstrate where funds come from.

Different Types Of Checks

Politically Exposed Persons (PEPs) and Sanction Screening

A politically exposed person is any individual, who at any time in the proceeding 12 months, in any overseas country, has held a position of certain prominent public function. 

We carry out PEP checks during both standard and enhanced due diligence processes, to ensure these individuals are not vulnerable to corruption. PEPs will then be recorded in a reporting entities PEP register. 

Sanction screening is undertaken to ensure that an entity is not registered on a sanction list, and therefore does not pose a risk.

Electronic Identity Verification (eIDV)

eIDV is the process of verifying a persons identity remotely through digital means. There are two key components of electronic identity verification:

  1. Confirmation of identity information via electronic source (s); and

  2. Matching the person you are dealing with remotely to the identity they are claiming.

Identification documents may include passport, drivers license or other official government issued documents.

At TIC. Co we verify an individual's identity from at least two electronic sources which is in accordance with paragraph 14 of the explanatory guidance issued in July 2021, which states that "Where two “reliable and independent” sources
are used and they match each other, the “high level of confidence” required of a single independent source is not required."

We have access to a variety of trusted databases which are used to verify identity documents. The standard logic is to try and get 1 match from a Name & Date of Birth database and 1 match from a Name & Address database, this results in 2 x Name, 1 x Date of Birth and 1 x Address.

This will help verify a customers identity, but for more in-depth verification, customer due diligence should be used. 

Biometrics

A biometric check assists you in achieving linkage between the presenter of an identity document and the photo on the identity document, this is carried out by performing biometric checks between the face of the document presenter and the face on the ID document.


Three images are captured as standard during the process and multiple checks are carried out. The checks listed below are at a high level and more detailed or additional checks are also being carried out in the background.

Image 1 - Face straight on

  • Subject looking at camera

  • Anti-fraud measures

Image 2 - Face side on

  • Subject face is at an angle to the camera

  • Subject is the same subject in image #1

  • Image #1 & image #2 are not 100% the same.

  • Both image #1 and image #2 were taken within a short space of time

  • Anti-fraud measures

Image 3 - ID document

  • Image is of an ID document

  • Subject in image #1 matches the face in image #3

  • Anti-fraud measures

  • If a passport, MRZ details are checked

Customer Due Diligence (CDD) 

Customer Due Diligence is the process of gathering information about, and verifying a customers identity.

 

These comprehensive checks will help determine if an individual poses a risk to an organisation in areas such as money laundering or financing terrorism, and is actually who they say they are. 

Need Some Help

Speak to one of our AML experts in our analyst team who will be able to answer

all your identity and due diligence questions.

Call us on 0800 115 121 or email us at info@ticc.nz