To operate your Anti-Money Laundering programme you will need access to quality information. Infolog provides multiple services including identity verification, location verification, PEPs, sanctions, sources of funds and wealth, and ongoing monitoring.
As well as the Infolog Portal suite of search services, Infolog has developed some simple, cost-effective, and fast products to ensure a superb customer experience.
We make your business more productive, secure and innovative.
Here are some ways Infolog can help you address the provisions of the Act:
Sections 11 and 15 -
Infolog Identity Plus combines many of our data services into an easy-to-read one-page AML/CFT review when on-boarding your clients.
Infolog also has many other stand-alone services that you can utilise to meet your AML/CFT requirements. These include beneficial owner and extended NZBN reports, as well as property information, which can confirm the purchase or sale of property.
Sections 31 -
This requires Ongoing Customer Due Diligence (Monitoring). Infolog’s Notification services do exactly this and are a vital tool to help you meet ongoing requirements. Notifications are free to set, with a small charge only when a change of interest occurs on one of your entities.
Sections 50 -
This imposes an ‘Obligation to keep identity and verification’ records that are used to verify the identity of a person. Infolog stores your records in a secure encrypted environment.
Sections 56 (2) -
This requires your organisation to have an AML Compliance Officer responsible for administering and maintaining the AML/CFT Program. Infolog’s inbuilt audit and reporting functions will provide great assistance to your Compliance Officer in this critical role.
The Infolog Portal’s online training modules can also assist you under Section 57(b) of the AML/CFT Act which stipulates that Senior Managers, the Compliance Officer and all staff involved in AML/CFT duties must be trained in AML/CFT matters.
Section 57 (b) -
This stipulates that Senior Managers, the Compliance Officer and all staff involved in AML/CFT duties must be trained in AML/CFT matters. The Infolog Portal’s online training modules can assist you meet your requirements here.
Sections 59 and 60 -
AML Reporting Entities are obliged to conduct a review and audit of their risk assessment and AML/CFT programmes every two years, or when required by their AML/CFT supervisor. Infolog’s in-built audit and reporting functions provide exportable reports that greatly assist in meeting audit requirements.
Compliance with Information Management
While your focus is on your AML/CFT obligations it is crucially important that overall information management procedures should not be forgotten. There are several legislative and compliance requirements concerning the access, viewing and retention of information – namely the Privacy Act, the Electronic Identity Verification Act 2012, and the Identity Information Confirmation Act 2012.
The structure and controls provided via the Infolog Portal service help clients meet their obligations in relation to the control and accessing certain search services, maintaining an audit trail, and training staff who access these services.