<aside> 🚔 The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) is an unavoidable piece of legislation that requires us to “identify” all customers.

Each financier’s interpretation of this legislation is different but we always need to “Know Your Customer”.

</aside>

<aside> ‼️ Since the majority of customers go through Community First, the general process will be skewed towards their processes.

If we need to send the customer to another financier, the process may be different.

</aside>

Plan A: ID Matrix

• As a first option, most banks will use Equifax’s ID Matrix software to verify a customer’s identity.
• This usually has a 95% success rate.
• Learn more about ID matrix https://www.equifax.com.au/idmatrix/

Plan B: Certified ID

• If ID Matrix check fails, we will need a certified ID posted along with the following form.

  Certified ID Form.pdf