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.


Public companies are verified differently to private companies. Because a listed company's ownership is spread across the stock exchange rather than a small group of shareholders, First AML's structure chart won't show shareholders for a public company, only directors.


Create the case

  1. Start a new case, select Entity, then Public Company.
  2. Enter the company's name and registered country.
  3. Select Go to case.
  4. If you have the company's registration number, unwrap starts automatically. Without it, select Start unwrap manually. If multiple entities share a similar name, First AML shows suggestions so you can confirm the correct one before unwrapping.


Review the structure

Once unwrapped, the structure chart lists the company's directors. You can open the company extract (under Requirements) to confirm the company is listed on a stock exchange; this is stated directly in the extract.

Because the company is publicly listed, you won't see shareholders in the same way you would for a private company.


Decide who to verify

Not every director needs to be verified individually; this depends on your compliance program. Common approaches include:

  • Marking directors as not needed where you're only verifying an individual acting on the company's behalf (for example, someone signing on the company's account).
  • Collecting a document confirming that individual's authority to act.
  • Collecting evidence the entity is listed on a recognised stock exchange, such as a screenshot of the current share price, which can support a simplified level of verification depending on your compliance program.


Collect requirements

Once you've decided who needs verifying, you can collect what's required directly in the case.


Under "Collect requirements":

  1. Go to Quick actions and select Send requirements for any individuals you're verifying.
  2. Upload supporting documents, such as proof of listing, directly to the case.