Completing the AML tab

New Zealand only

Available fields

Field

Description

I have completed due diligence

Your practice will have an existing compliance program. This checkbox can be ticked once the due diligence according to your practice's compliance program has been completed.

Different practices will have different risk levels. The activities required under compliance program will depend on your risk assessment result.

Due diligence

This field indicates the different risk level for each client. The result of the due diligence can be recorded here.

See KnowYourCustomerstatuses for more information.

Completing the AML tab

To complete the AML tab

As you create a new client or contact (see Creating clients and contacts), perform your customer due diligence as defined in your practice's existing compliance program.
In the client, click the AML tab. The AML tab displays.
Select I have completed due diligence. This checkbox can be ticked once the due diligence according to your practice's compliance program has been completed.
Select a status. See KnowYourCustomerstatuses for more information.
Every change in this tab will be automatically logged in the Audit Trail.

Know Your Customer statuses

For more information on the differences between Simplified, Standard, and Enhanced Customer Due Diligence, refer to the definitions set out in the AML/CFT Legislation.

Status	Description
Unverified	Due diligence has not been performed for this client, or the result was inconclusive and further action is required.
Simplified	Due diligence has been performed for this client matching the requirements for simplified due diligence. See the AML/CFT legislation for more information.
Standard	Due diligence has been performed for this client matching the requirements for standard due diligence. See the AML/CFT legislation for more information.
Enhanced	Due diligence has been performed for this client matching the requirements for enhanced due diligence. See the AML/CFT legislation for more information.
Politically Exposed Person	The customer is known as a member of public office, or is a close business associate or relative of a member of public office. See the AML/CFT legislation for more information.
Not required	The customer does not apply to the circumstances defined by the AML/CFT legislation for either simplified, standard, or enhanced due diligence. See the AML/CFT legislation for more information.

Audit Trail

The Audit Trail table lists every change that has taken place in the AML tab.

Field

Description

Activity

The activity that was performed in the AML tab. It will record one of the following actions:

Due diligence ticked
Due diligence unticked
Unverified selected
Simplified selected
Standard selected
Enhanced selected
Politically Exposed Person selected

Date

The date and time that the activity took place.

Employee

The employee that performed the change.