Wealth & Capital Markets
At Australian Unity our highest priority is to help further protect our Investors against the risk of fraud and financial crime.
As a Financial Institution we need to comply with laws and regulations to protect our Investors against fraud and financial crime, by identifying our investors and verifying their details are current and correct via the ‘Know Your Customer’ or ‘KYC’ process. Now more than ever it’s a topic of high importance.
KYC means “Know Your Customer”. Under Australia's Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) ("AML/CTF Act”) and AML/CTF Rules Australian Unity Wealth (our, we, us) is required to collect and verify specified information about our Investors. The aim of KYC is to ensure the person or entity investing in our product is who they claim to be. It’s an important part of how we manage the risk of money laundering and other crimes and helps us comply with relevant anti-money laundering and counter-terrorism financing laws in Australia and internationally.
Under Australian Unity Wealth’s KYC program, we are a ‘reporting entity’. As such we are required to comply with:
• Australia's AML/CTF Act
• AML/CTF Rules 2006 (Cth)
• Global anti-money laundering and counter-terrorism laws and regulations
To help further protect our Investors against the risk of fraudulent activity and financial crime we’re asking some Investors who joined before 12 December 2007 to provide their current ID if we don’t have these details on file. We are also reaching out to Investors whose personal details appear to be out of date to provide their current ID. When you opened an account, you may have provided your ID at the time, however we weren’t required to keep this on file. However, to comply with Australia's Anti-Money Laundering and Counter-Terrorism Financing Act 2006, we are now required to keep your current ID on file.
These Investors will receive a letter or an email with details on how they can provide their current ID in a secure way. The email will come from firstname.lastname@example.org.
AML/CTF Rules require that we verify the following:
1. full name; and
2. date of birth
3. residential address
1. full legal name
2. registered office/principal place of business
3. beneficial owner information
Log into your secure online portal and complete electronic ID verification.
Confirm via the ‘Get Started’ icon below to perform electronic ID verification.
If your identity isn’t verified by the date on the letter or email, to meet our regulatory obligations, we may have to place a restriction on redemptions/withdrawals from your account, including joint accounts, until identification verification is complete. The restriction will be removed once your identification has been verified.