Reliance on Section 34 AML/CFT Agents.
Anti-Money Laundering and Countering Financing of Terrorism Act 2009.
- Section 34 – Subject to any conditions that may be prescribed by regulations, a reporting entity may authorise a person to be its agent and rely on that agent to conduct the customer due diligence procedures and obtain any information required for customer due diligence under this Act or regulations.
Therefore, Infolog does recognise Agents and will allow them to access Information on your behalf.
HOWEVER, THE REPORTING ENTITY CANNOT RELY ON THE ‘AGENT’ TO HAVE THE REQUIRED INFORMATION ACCESS AGREEMENTS IN PLACE.
Where any Reporting Entity relies on a Section 34 Agent to access information sources on their behalf it is the ‘Reporting Entity’ as the ‘end user’ that must have the agreements in place with the information provider or intermediary (Infolog).
- The appointed Agent is not the ‘Reporting Entity’ and the Section 34 Agents only authorisation to access and review this information relies solely on their appointment by you as your Agent.
- The Section 34 Agent can therefore only access and use information as the Reporting Entity and for the purposes of the Reporting Entity, not for its own purposes.
- This must, in all instances, be the reporting entity under the AML/CFT Act, as it is the reporting entity which has the obligations to verify identity and to retain, and produce if necessary, records relating to identity and verification to enable the nature of the evidence used to be readily identified.
WHY – INFOLOG’S AGREEMENT WITH THE REPORTING ENTITY.
The relationship between the supplier and end user is controlled and prescribed in the Identity Information Confirmation Act 2012, Australian Document Verification Service agreement, Privacy Act 1988 (Australia) and the Privacy Act 1993 (New Zealand), The Office of the Privacy Commissions Credit Reporting Privacy Code, and also Infolog’s own agreements with the New Zealand Transport Authority pursuant to section 241 of the Land Transport Act 1998 re Infolog’s own Access to Certain Names and Addresses held on the Motor Vehicle Register.