August two minute update

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Default vesting date change in response to Trusts Act
Now that the Trusts Act has gained Royal assent, we're making a number of changes. The first is already in place and relates to Section 16, which extends the maximum duration of trusts to 125 years. New trusts set up in Connectworks now have a default vesting date of 125 years after the settlement date. This can be easily changed if you wish. We'll also be reviewing all of our trust deeds and variations and making updates well in advance of the Trusts Act coming into force in 17 months time.

File annual returns at any workflow stage
Company annual returns can now be filed (and bulk filed) from the Work tab at all stages of the Annual Return workflow. Previously, when bulk filing annual returns, each company’s workflow reminder had to be at the ‘Ready to file’ stage. This has now been changed to allow firms with companies where they don't have to verify the details (eg. trustee companies) to easily file in bulk.

Core requirements of companies, directors and the registered office
Many people under-estimate the core legal requirements for companies, directors and the registered office. Regardless of how small, or inactive they are, there's more to managing a company than just filing annual returns. However, the Companies Act is extensive at 432 pages. We've therefore distilled what we believe to be core requirements into a 'cheat-sheet'. It has links to the Companies Act and Companies Office for more information, plus outlines how Connectworks assists to achieve the required compliance. It can be found on our support site here.

Manually verifying clients ID? If so, you're missing out on an easier way...
Our clients love Connectworks AML/CFT solution! It's a workflow-driven process, aligned with DIA and FMA requirements. There's great oversight of your firm, easier annual reports and it's easier to be audited.

Another reason our AML/CFT solution is great is that it includes in-built Smart-ID checks via our partner Centrix that are cheap, robust and fast. In just a few seconds, you can have a client identity verification based on their NZ driver licence or passport, with additional verifications from property ownership records, dozens of banks, finance companies and retail energy providers. The client's name, address and date of birth can be verified up to 4 ways each. Every Centrix check also includes the Worldcheck PEP and Sanctions check. We think that's easier and more robust than your clients being required to bring in proof of identity and proof of address documents - that you then have to verify, copy and store!

The cost of a Smart ID check is just $5 using a driver licence, or $6 using a New Zealand Passport (ex GST). The certificate showing the results is saved against the person in the CDD workflow and included against every entity they're involved in within Connectworks (after you've merged duplicate contacts).

AML Webinars (25min)
To see our AML/CFT solution in action, register for one of our live demonstrations using the links below.
Thursday 5th Sept @ 10.30am - Register
Monday 9th Sept @ 2pm - Register

More Webinars
Companies overview
A high-level overview on all company functionality including annual return processing. 45mins.
Thursday 5th Sept @ 2pm - Register

Trusts overview
A high level overview on all trust & trustee company functionality. 45mins.
Friday 6th Sept @ 2pm - Register

Drop-in Q&A Session
This month we're running a live Q&A drop-in session to answer questions from our users. Come along with your queries and we will run through examples with you live in our demonstration firm. Register with the link below.
Thursday 12th Sept @ 1.30pm - Register

New bulk import templates
We've recently updated our bulk import templates for loading companies and trusts into your firm profile. There are lots of additional fields available to import, meaning less manual data entry required afterwards. If you have old templates saved, please delete them and download a new version from our Knowledgebase here: Bulk Importing Data

If you need any help with our import templates get in touch with us at

New DIA forms required for Centrix checks being performed using NZ Passports - Action required by October 31st
Centrix have received a directive from the Department of Internal Affairs regarding access for its subscribers (yourselves) to perform passport checks. To meet the new DIA requirements, Centrix requires all existing users with passport checks enabled (via the intermediary Datazoo) to complete an updated authority form and privacy policy. Download the authority form here and return it to us as soon as possible.

Please note the form must be typed (not handwritten), signed and attached with a copy of your Privacy Policy (or URL provided if it is available online). If you do not have an existing Privacy Policy, the following link will assist you to establish one: Privacy Statement Generator.

Firms who do not yet have Centrix passport checks activated are unaffected, but you are welcome to download and return the authority forms using the link below to get set up.

If the authority form and privacy policy is not returned by October 31st 2019, the passport functionality on your account will be deactivated.

If you have any queries, please do not hesitate to contact our support team at or by calling 0800 456 580.

Quote of the month
"Be so good they can't ignore you."
- Steve Martin

AML/CFT Update

We’ve made some improvements to how CDD Candidates are selected in the Connectworks CDD workflow, to help you ensure that all beneficial owners and parties with authority to act on behalf of your clients are having their requirements met.

In the updated workflow you can:

  • Specify the type of relationship a CDD Candidate has to a client 

    • Relationships that can be selected are: Effective control; Authority to act; Transactions conducted on behalf; >25% ownership (companies only); and Other.

    • More than one relationship can be selected per candidate.

    • Buckets for each relationship (showing all candidates with a particular relationship to the client) are displayed below the selection box.

  • Record information about the nature of a Candidate’s beneficial ownership or authority to act on behalf of a client.

    • The new AML Relationships block in the Perform CDD section contains two groups of sub-field: AML Relationship information; and Authority to act. Each group can be completed either by entering information into it, or indicating that information is not required.

    • Where a candidate has not been flagged as having authority to act and/or beneficial ownership, the checkbox indicating that information is not required about that kind of AML Relationship is automatically checked.

  • Select companies and trusts as CDD Candidates

    • Companies & trusts have different kinds of identifying information than natural persons. This is reflected on their Identity Verification block.

    • Where one company or trust client has a beneficial ownership relationship in another, its completed CDD record can be reused to create the identity verification, linking the records together. 

Important Information

If you’ve completed CDD for a client, you don’t have to do anything - completed records aren’t affected by the new fields. 

Existing CDD Candidates

All existing CDD candidates in ongoing workflows will be automatically marked as having an ‘other’ AML-relationship to the client. This relationship can be modified in the CDD Candidates section.

All existing Candidates will also have a new AML Relationships block in the Perform CDD section, which will be incomplete by default. You can complete this section by recording information about the Candidate’s AML relationship to the client, or by flagging that further information is not needed.

Linking previously-completed CDD records

If you have trust or company clients with beneficial ownership relationships to other clients, you can reuse their completed CDD records to verify their identity when performing CDD on the other client. For example, if you have a trustee company with a relationship to a number of trusts, you can perform CDD on the trustee company, then link that record into the CDD records of the trusts it is involved in.

To do this, just select the trust or company as a CDD candidate, then click the button to verify its identity information. If it’s had CDD completed, you’ll be able to use it here to create a new identity record. 

When reviewing and confirming the CDD, the reviewer can see whether a company/trust Candidate has had a full workflow completed by looking at the Identity Determination section of the Summary Review form. CDD Candidates whose identity determinations are based on completed CDD Workflows have an extra line of text stating this.

July two minute update

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AML/CFT enhancements
Experts say Connectworks has the most comprehensive AML/CFT solution around, but we're not stopping there. In the upcoming month we're making a release of two major features:

The first is the ability to select companies and trusts as CDD Candidates, and then link their completed CDD records into the CDD of other entities they're involved in.

So for example: 'Company A' is a shareholder of several other companies. Once you have completed CDD on 'Company A' you will be able to easily re-use the determination you made when doing CDD on the other companies which it has an ownership stake in, or control of. The ability to re-use a prior CDD determination will be available for any company, trust or individual. This will help firms to eliminate double handling data. Simply complete the CDD process once and it will be available to use across all roles in multiple entities.

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The second change is that users can specify a party’s AML-relevant relationship to a client at the same time as selecting the party as a CDD candidate. i.e. the reason for that person being a CDD candidate. This is being done to better align the CDD process in Connectworks with the requirements of the AML/CFT legislation. Relationships that can be selected are:

  • Effective control

  • Authority to act

  • Transactions conducted on behalf

  • >25% ownership (companies only)

  • Other

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More than one reason can be selected. Once the reason/s for undertaking CDD are selected fields relating to each will show, where users can record relevant information. We will communicate with existing users closer to the release date detailing what has changed and how to complete CDD that is still in progress. 

We're still working on a number of additional enhancements including the ability to drill through ownership structures to identify ultimate beneficial ownership by natural persons, an "AML Compliance Officer" user role, providing access to independent guidance on country risks and more.

More AML/CFT webinars
Learn how to manage your AML obligations in Connectworks (30mins). We're still getting record attendance numbers for our AML/CFT webinars, so have scheduled three more. Click the links below to register:
Friday 2nd August @ 11am - Register
Tuesday 6th August @ 2pm - Register
Thursday 8th August @ 10am - Register

New features and reports - Assets and Liabilities (Trusts)
A new "Account filter" has been added to the Assets & Liabilities reports.
This account filter will allow users to select the account/s that will populate into the Assets & Liabilities ledger reports. Cases where this filter may be used include: excluding fully-gifted debt accounts from the Debt & Gifting report, or reporting on distributions made to specific beneficiaries. 

Edit Assets & Liabilities reports in situ. This functionality has been added to allow users to edit entries and accounts in Assets & Liabilities reports from the Reports page itself (screenshot below). This will make editing information before generating reports much faster and easier. 

Two new reports are also available: Assets Bought and Sold, and Financial Position.

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We use GoToWebinar - simply register for this months live sessions below. You are also welcome to visit our Training Video Platform to view recordings of our most popular topics at your own pace. If you would like to arrange a one-on-one training webinar for your firm get in touch with us at

Companies overview
A high-level overview on all company functionality including annual return processing. 45mins. 
Friday 9th August @ 1pm - Register

Trusts overview
A high level overview on all trust & trustee company functionality. 45mins.
Wednesday 7th August @ 1pm - Register

Training for existing users
This month we are running three 30-min sessions on document management, starting with the basics and building up to advanced usage. Register for just one webinar or all three, it's free to attend! We will provide handouts for each session to registrants on the day.

Session 1: The basics of document management
Tuesday 13th August @ 3pm - Register

  • Uploading historic documents (Companies & Trusts)

  • Document Tagging and filtering

  • Document naming convention

  • Downloading documents

Session 2: Client engagement
Tuesday 20th August @ 3pm - Register

  • Emailing documents

  • Using precedents

  • Three methods of signing

Session 3: Advanced document signing
Tuesday 27th August @ 3pm - Register

  • Setting signing policies

  • Document signing when a trustee/shareholder is a company or a trust

Quote of the month
"Tough times go away. Tough people do not."
- Walter Payton