AML Agent Schedule

Schedule 1 – Identity Procedures

It is an essential pre-condition of the referral of an Application to the Lender that an Applicant’s identity is verified in compliance with any relevant requirements of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as well as the varying State requirements around the verification of identity of mortgagors.

The Lender authorises and appoints the Master Introducer and each Introducer as its agent for the limited purpose to carry out customer identification procedures under the AML/CTF Act on the Lender’s behalf using the procedures set out in this Schedule 1.

The identification procedures

1. Personal identification documents

In relation to all Applications, the Lender requires an Introducer to:

  • verify each applicant’s and guarantor’s personal identification documents;
  • obtain copies of personal identification documents; and
  • complete the applicable identification/verification checklist.

2. Interview expectations

The Lender requires the Introducer to interview all Applicants and guarantors either:

  • face to face; or
  • where a face-to-face interview is not possible, via phone or other method as the Lender provides by notice.

3. Third party referrer

Where an Introducer receives an Application through a Third-Party Referrer, the Introducer must:

  • provide the Lender with details of the Third Party Referrer;
  • confirm that the Third-Party Referrer conducted a face-to-face interview with the Applicant(s) and guarantor(s); and
  • confirm that the Introducer has independently spoken to the Applicant(s) and guarantor(s) (by phone) and confirmed all application particulars and discussed Product parameters including all fees and charges, prior to submitting the Application to the Lender.