Customer Due Diligence
Get it right every time

Keep your business moving and onboard clients quickly without having to compromise your CDD obligations.

Verify identities and documents on our automated platform, or outsource to us and we will tailor a service for your individual needs.

Your all-in-one solution for customer due diligence

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Compliance guaranteed

Safely onboard clients, verify thousands of identities from all around the world, and securely collect data from when you first onboard clients through to ongoing monitoring of your client base.

Customised solutions

We offer tailored solutions for your business with customised CDD online submission forms to cater for your industries specific needs, and professionally designed documentation to reflect your brand look and feel.

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Help when you need it

Use our self-service tool to carry out due diligence checks yourself with instant results, or ease the burden with our fully outsourced, or partly outsourced services. We can take care of all your due diligence obligations, or you can choose to lean on us for the trickier CDD cases.

Data at your fingertips

Centralised record keeping and data management systems means your CDD documentation is securely kept in one place, which is easy to access, at any time, from anywhere in the world.

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Live data to ensure accuracy

We use ‘live’ data so any changes in check lists are continuously detected, we are always using the latest data for ongoing checks on your clients. Reducing risk and ensuring compliance.

Automation so you never forget

Our smart technology takes the hard work out of ongoing checks using automated alert systems. You’ll be notified when PEP and sanctions need to be run, and when to review the risk rating of your ongoing client base.

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More about customer due diligence

CDD is required when a business that is covered by AML regulations starts a business relationship with a customer or potential customer. It’s also required if their relationship with an existing customer ‘materially changes’ and  they need to re-verify a customer identity and risk profile.

Simplified CDD 

Relevant for customers who are already subject to transparency and public disclosure. These are prescribed entities. In New Zealand they are identified in section 18(2) of the AML/CFT Act and include government entities, local authorities or public service agencies.

Standard CDD

Standard CDD is the process entities must follow to confirm the identity of customers and ensure the personal data they have provided is genuine. In New Zealand CDD must take place when a cash transaction, or series of related cash
transactions, exceeds $10,000. If your customer is a trust, this triggers a need for enhanced customer due diligence, as they are automatically considered high risk.

Enhanced CDD

Enhanced CDD is used for high risk clients. In New Zealand, requirements fall under section 22 of the AML/CFT Act and may apply when a customer: 

  • Has a trust or another vehicle for holding personal assets.
    Is a non-resident client from a country that has insufficient anti-money laundering and countering financing of terrorism systems or measures in place.
  • Has a company with nominee shareholders or shares in bearer form.
  • Is a politically exposed person (PEP).
    You consider that the level of risk involved is such that enhanced CDD should apply. 

Ongoing CDD

Ongoing CDD should be conducted on existing customers, so you can ensure your record of your customer’s activities and/or transactions stay up to date and are as you expected. As an indication – where a customer is considered low risk, CDD should be done every 12 months and, if considered medium to high risk, this should occur every 6 months as well as any other time considered reasonable. You should have your ongoing due diligence requirements set out in your company programme.

Ongoing CDD ensures that the business relationship, including the activities and transactions within it, are consistent with your knowledge about the customer, their business, and risk profile.

In many cases you will not only need to carry out customer due diligence on your client, or the entity you are directly dealing with, but will also need to include:

  • any beneficial owner of a client (the person who ultimately controls the customer); and
  • any person acting on behalf of a client (the person operating or transacting on an account or facility that is held by your customer).

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