TABLE OF CONTENTS


This article outlines one approach to configuring this in First AML for Australian customers. It is intended as general guidance rather than prescriptive instructions. 

The structure of your cases and the individuals you verify depend on your organisation's compliance programme and the legislation applicable in your jurisdiction.


Private companies are one of the entity types you can verify in First AML. This article walks through a typical private company case from creation to sending verification requests, using the structure chart and manifest to identify who needs to be verified.


Before you start

You'll need the company's legal name and its registered country. If you have the company's registration number (for example, an ACN in Australia), add it during case creation. This isn't required, but it lets First AML automatically pull the company's structure from the relevant company register, rather than you starting that unwrap manually.


Create the case

  1. Start a new case and select Entity, then Private Company as the entity type.
  2. Enter the company's legal name and select its registered country.
  3. If you have it, enter the company registry number. This enables automatic unwrap.
  4. Add a case contact if you have one.
  5. Select Go to case.
  6. If the unwrap didn't start automatically (because no registry number was entered), seLect Start unwrap. First AML pulls the company's details directly from the relevant company register (for example, ASIC in Australia).


Review the structure

Once the unwrap completes, the structure chart shows the company's directors and shareholders, along with their shareholding percentages.


Individuals who meet your Ultimate Beneficial Owner (UBO) threshold are marked with a UBO tag. This flags that they may need to be verified as an individual, in addition to any other role they hold (such as director).


You can view the source document behind the unwrap by opening the company in the Requirements tab, where the company extract is attached. 


This shows the same information used to build the structure chart: registered address, directors, and shareholders.


Collect requirements

The manifest lists what's still needed to complete the case. This typically includes:

  • A screening report on the company, if your compliance program calls for one. Select Run screening to start this.
  • Any suggested requirements based on the entity type, such as a constitution document. You can accept or decline a suggested requirement depending on what your compliance program requires you to collect.
  • Identity verification for individuals tagged as key parties (directors, UBOs).


To send verification requirements to a client, complete the following steps:

  1. Navigate to Quick actions and select Send requirements.
  2. Choose the specific requirements needed from the client.
  3. Add any additional users who should be copied on the request.
  4. Send the request.


Once sent, the recipient receives a branded email containing a link to upload documents and complete identity verification.