IDENTITY CHECKS

SELF-SERVICE TOOL

CUSTOMER DUE DILIGENCE

BIOMETRICS

AUDIT & ANNUAL REPORT ASSISTANCE

RESEARCH, TRAINING & CONSULTING

WHAT WE DO

 

It’s estimated that over $1 billion a year comes from drug dealing and fraud, and can be laundered through New Zealand businesses, risking our reputation and economy. 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 heart of the law is to see through these layers to find out who is behind the funds, and where they came from.

This means you are required to identify yourself, and show who the ‘controlling mind’ is in the case of what are called artificial persons (companies, trusts and so on). You will sometimes be required to demonstrate where funds came from.

All of this is invasive, but is necessary for the maintenance of law - this is a term used to describe the purpose of the information requests, and with it comes obligations on the organisation asking these questions. Information can only be held for a certain period (usually 5 years) and must be secured.

 

The TIC Company has been awarded the Privacy Trust Mark by the Office of the Privacy Commissioner. As the only AML outsourcing company to accomplish this, you can rest assured that your information is in the safest hands.

If you have any concerns, feel free to email us.

WHY DO I NEED TO PROVE MY IDENTITY?

WHAT CAN TIC CO. DO FOR MY BUSINESS?

 
 
1.png
5.png
6.png

We carry out the necessary work, then respond with a recommendation and assessment of the customer, together with a fee to allow easy disbursement. Most of the time we simply recommend onboarding, but if there’s a problem we will discuss it with you.

We keep detailed records of the activities we carry out as your agent,  for audit purposes, and support you in the event of an unusual customer situation. As your agent you are allowed to rely on us for most of your record keeping.

The TIC Company acts as your KYC coach. We live and breathe CDD, working with Compliance Officers from many reporting entities to onboard thousands of customers.

 

Setting up with us is a one-off exercise of due diligence. To outsource, reporting entities must show they thoroughly ensured the supplier meets legislative standards. We also check your compliance programme, terms of trade, privacy and other business policies to ensure they meet standards, and allow for the appointment of an agent.

We don't just do it better and faster, but will rarely meet a new situation. Our service includes a small monthly subscription, and it is this that allows us to give helpful tips and reporting to assist you with getting set up, as well as meeting your ongoing obligations.

Every quarter we supply a brief report on activity to help drive your internal oversight processes, and every year a report to help you fill in your annual return. Every two years we support your audit process, showing how we meet the standards you have set in your program.

We understand that our clients' needs are different and so we offer a variety of AML Service options so you can focus on your business and customers. 

FULLY OUTSOURCED AML

The vision at the TIC Company is simple - we want to turn your obligation into an advantage for you, by keeping you one foot ahead of the rest.​ By specialising and making use of an array of tools and databases, we have been able to take away much of the pain, reducing the impact on you and on customers who expect much smarter interaction than traditional methods allow.

SELF-SERVICE AML

We understand time is money and our self service tool allows for instant results at a low cost. You can conduct your own electronic identity verification (eIDV) checks, Politically Exposed Persons (PEP), checks and Sanction Checks.

HYBRID AML

Get the best of both words. Use the AMLOnline Portal to utilise our self service tools - but we are always there to help you out with the trickier CDD cases that come along. Communicate with our specialist team directly through the AMLOnline Portal and learn as you go.

We not only provide you with the data you require for your annual report, through our award-winning AMLOnline portal, we also run Annual Report workshops to take you through the requirements of your Annual Report and field any questions your Compliance Team may have. 

The required statistical customer due diligence data we hold based on the requests you file with us in the last financial year is supplied to clients via our AMLOnline Portal

CAN YOU HELP ME WITH MY ANNUAL REPORT?

AML AT YOUR CONVENIENCE

 

SELF-SERVICE TOOL

Our Self Service tool is an addition to the AMLOnline Portal, which was recently awarded the Privacy Trust Mark by the Office of the Privacy Commissioner. 

 

We understand you’re busy and time is of the essence, so use our new tool for the moments when you want instant results.

 

BIOMETRICS

If you have not met with your customer and are unable to confirm their identity, we can provide you with a hassle-free solution.

We simply provide your customer with a link which prompts them to take pictures of their face and identification document via their device's camera. This data is then automatically extracted via OCR and the images are matched for liveness and likeness. These results are then delivered to you in the AMLOnline portal. 

WHAT ELSE DOES TIC CO. DO?

 

The TIC Company established the ATTIC Research Institute (ATTIC) in order to facilitate our overarching goal to be the experts in the AML/CFT field, to set best practice guidelines for the industry and to drive the sector in an ethical, and just direction.

The ATTIC Research Institute's vision is to uphold a professional and front-running Anti-Money Laundering/Countering Financing of Terrorism ("AML/CFT") research and training facility that encourages partnerships between New Zealand’s leading universities and professional industry bodies. 

 

ATTIC combines research, training and education, and consultancy to provide a wrap-around and collaborative platform. In this way, ATTIC continues to innovate, increasing knowledge and skills, thereby helping our clients to better adapt and respond to the fast-paced AML/CFT environment.

 

This further enables ATTIC to provide first-class training and education solutions that are fit for purpose in an emerging market. On top of all of this, ATTIC produces many resources to help you, including a free, monthly, online magazine packed full of AML/CFT updates and articles from experts in the field.

Ready to get started? Get in Touch.