Easy AML/CFT compliance

Know you're compliant

Show you're compliant

AML/CFT Phase Two is in place from 1 July 2018 for lawyers in New Zealand, 1 October 2018 for accountants, and 1 January 2019 for real estate agents.

Here are the essentials.

 
 
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One system for all your CDD and easy reporting

Connectworks provides one system for performing your AML/CFT client due diligence (CDD) requirements for all your clients, helps you to compile your DIA reports, and to meet your record-keeping requirements.

Our full governance and compliance solution for companies, trusts and individuals includes AML/CFT functionality at no extra charge. And with everything in one place, data entry is minimised and there's less chance of clients being missed or duplicated.

AML/CFT-only subscriptions are available for all client types (Companies, Trusts, Partnerships and Individuals) at just $5 per client per annum, or an up-front $25 for 6-years to enable you to complete the CDD, then meet your 5-year record-keeping requirements.


Electronic identity information verification

You can easily obtain a low-cost independent verification of a client’s identity information via our partner Centrix.

Centrix connects to the DIA and NZTA for passport and driver licence verifications, many banks, finance and utility companies for proof of address, name and date of birth, and the full international Thomson Reuters PEP and sanctions databases. 

·       A New Zealand Driver Licence, proof of address, PEP and sanctions check is $5 per individual and takes around 20 seconds.

·       A New Zealand Passport, proof of address, PEP and sanctions check is $6 per individual and takes less than a minute.

A shareable certificate is produced showing the results of the checks and is automatically saved against the client.

Note: you’ll need to complete and return the relevant forms available here before undertaking these checks

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Easy client setup, then capture of AML/CFT info

Clients of all types can be set up in Connectworks easily, so you can start the CDD process.

Companies, along with the names and addresses of directors and shareholders and all shareholding, are imported in seconds from the Companies Office individually by your firm or in bulk via a loading template that can also contain additional information.

Trusts, partnerships, and individuals can be added by your firm at any time. Or again, bulk-loading templates are available to speed up the process. If you've identified the beneficial owners of the trust as part of your trustee or management duties, you're already able to start the CDD process.  

Once clients are loaded, you can start a workflow process to complete the appropriate level of CDD by entering information in the custom fields in Connectworks that are taken directly from the legislative requirements.  

We've made it easy with the ability to select options, drag and drop any supporting documents and pre-filling information where possible 

Enter information once, then reuse it

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Identity verifications are attached to a person’s profile; so if, for example, you’ve verified someone’s identity in their role as a company director, you won’t have to verify it a second time in their role as a trustee or individual.  

Client portal

Clients will be able to supply the required information and upload scans of identifying documentation directly into Connectworks. You get notified when their information changes, and you can choose to accept it into your database.

Alerts and reminders

Once you complete CDD for a client, the renewal date is automatically added, but you can override it if you wish. Reminders will appear in your Connectworks calendar, and you can filter your client list to identify any that are pending or overdue.

Oversight of your firm and easier DIA reporting

Our easy, in-depth reports help users quickly identify any clients where CDD is incomplete or overdue. Three reports are available to help you complete your reports to DIA.

Checks on non-New Zealand residents and PEP and sanctions-only checks to be added

The identity verification team we’re working with will be offering verifications for persons from major countries outside New Zealand at a slightly higher cost of $7-$10.

We will also be adding a PEP and sanctions-only check for just $1. So if you choose to manually verify clients ID, you will still be able to check these easily via Connectworks. 


Flexible subscriptions and no-hidden extras

•No additional cost to entity management subscription plans for companies or trusts (from $25 per entity, per annum)

•Trusts, companies and individuals that aren't using Connectworks entity management subscription are just $5 each per client, per annum for AML/CFT-only subscriptions.

• Or you can take out a six-year plan for an up-front $25 for one-off clients (to meet five-year record- keeping requirements)

•Just pay additionally for any client identity information checks that you want to do via Connectworks (see below).

• There is an option to add unlimited signing for just $5 extra per individual or entity per annum. This encompasses our flexible signing, document packs and a branded client portal for your firm.

What you don't pay for

With Connectworks, there are no firm costs or set-up costs. Just pay for the subscriptions you want, when you take them out.

There is no limit on the number of staff who can access Connectworks from your firm and they can use it from and anywhere at any time.

You don't have to pay for online support or to take part in training webinars.

There's no minimum number of subscriptions to take out and no obligation to undertake the identity checks via Connectworks if you don't want to.

 

Centrix Smart ID check pricing

•NZ Driver Licence, proof of address, PEP and sanctions check = $5

•NZ Passport, proof of address, PEP and sanctions check = $6

•The costs are per check, regardless of the result. The biggest issue is people entering in incorrect details. Address checks fail for a few percent of people, mostly due to them having moved recently or not having accounts in their own names (e.g. only in the name of a partner or flatmate).

•Prices exclude GST

Contact us

For more info, to sign-up or to take part in a webinar, get in touch at enquire@connectworks.com or call 0800 456 580 option 4

Centrix Application Forms

 

Application for Centrix subscriber account (download)
These are the terms and conditions for using Centrix, and must be completed and signed by an authorised representative of your firm before you are able to undertake client ID checks via Connectworks

Application in relation to the Identity Information Confirmation Act 2012 (download)
This form only needs to be completed if you want to be able to use New Zealand passport information in your Smart ID checks (instead of a New Zealand Driver Licence).  Parties receiving passport information must first be authorised by the Department of Internal Affairs, via Centrix. (For more information, see here.) Again, this form must be completed and signed by an authorised representative of your firm, and returned to Connectworks for processing.