FAQ

First AML frequently asked questions.

Is out sourcing our Customer Due Diligence obligations allowed?

Yes, the majority of countries around the world allow for this e.g. Section 34 of the Anti-money laundering and counter financing of terrorism Act 2009 allows for this in NZ.

Why would I use First AML over an electronic verification tool?

First AML takes care of the whole process for you, not just the ID verification step. We understand the challenges of this administrative AML onboarding burden and have built bespoke technology to solve this in conjunction with a dedicated team of Analysts.

Setting up a Compliance Programme?

We provide a guideline when setting up a compliance programme.
Download Here: FirstAML Compliance Programme Guideline.pdf

Can my ID verification data be reused?

Yes, you can request this data to be reused for future Customer Due Diligence matters if asked in the future. You will need to provide your express consent.

Why is First AML asking for my information?

First AML helps with Customer on-boarding for Companies referred to as ‘Reporting Entities’ under legislation such as Law, Accounting, Real Estate, and Investment Firms. In certain countries, these Companies are required to collect certain personal and other information from Individuals in order to meet Anti-Money Laundering regulations.

Is the information I provide to First AML treated confidentially?

Yes - First AML only collects personal information from individuals when requested to by our Clients, who have a legitimate legal requirement to verify and store this information with First AML.

What steps has First AML taken to ensure Customer data is safe?

First AML has and continues to invest heavily in Information Security. Most notably we have implemented an ISO27001:2013 compliant Information Security Management System which meets global security standards, and also conduct quarterly application penetration testing of our Platform to ensure data is securely held. You can read more about our approach to security on firstaml.com/security or send an email to security@firstaml.co.nz with any questions you may have.

Who has access to my information?

First AML will provide your information to the Company who originally requested it (e.g. a Real Estate Firm you may have engaged to purchase a property), this occurs after collecting your consent during the document collection process. Outside of First AML and the Company who requested us to verify you, only authorised third parties can access your information under legal privilege. This could include government agencies such as the police, AML Auditors, and key Suppliers of First AML where use of your information is protected by sufficient privacy and security requirements, and contractual clauses.

Where are you located?

First AML has two offices, located in New Zealand and Australia. Our head office is located at Tenancy E/317 New North Road, Kingsland, Auckland 1010, New Zealand. Currently all product and software development, and analyst information processing is undertaken by staff based in this office.

I would like my data to be deleted.

Please send an email to privacy@firstaml.co.nz including details of your deletion request. First AML will respond within 5 business days of your initial contact to acknowledge the request and request any further information we require to process your request. First AML can only delete your information once we are no longer required to hold the information under the applicable country’s Anti-Money Laundering or other legislation. Once data deletion is possible, First AML will delete your personal information and confirm this by email within 30 days of the date deletion was able to be undertaken.

I would like a copy of my information

Please send an email to privacy@firstaml.co.nz including details of your deletion request. First AML will respond within 5 business days of your initial contact to acknowledge the request and request any further information we require to process your request. Provided First AML can verify that we are dealing with the actual individual whose information is being requested, we will provide a copy of your personal information within 20 working days of the initial request.

How long will First AML store my data for?

First AML is required to store your information as long as it is required by our Clients to meet Anti-Money laundering regulations in the applicable country. Unless the Company you are dealing with stops using the First AML Platform to store their Client information, it is likely First AML will hold your information for 5-7 years from the date of the transaction or business arrangement you have engaged with the relevant Company. In some cases information may be retained for longer where it is still required to meet Anti-money Laundering regulations e.g. if you have an on-going relationship with a Company who is required to hold this information when transacting with you. If you would like more information about how long First AML will store your information, please send an email to privacy@firstaml.co.nz including details of your request and we shall respond within 20 working days.