VERIFICATION OF IDENTITY

Transcription

1 VERIFICATION OF IDENTITY SUPPORT PACK - BROKERS JULY 2016 Westpac Banking Corporation ABN

2 Contents Topic Page # Background Verification of Identity 3 What are the key requirements? 4 VoI Process Overview 5 VoI Certificate (Individuals) 6-10 VoI Checklist and Certificate (Non Individuals) Identity Declarant 14 VoI Overseas What s Changed for SA, WA and NSW? 18 Need more Information? 19 2

3 Background - Verification of Identity Purpose of this pack To provide Brokers with a summary of the key Victorian and Queensland Verification of Identity (VoI) requirements effective from 1 August To provide Brokers with a summary of the minor changes to the VoI Standard within South Australia, Western Australia and New South Wales which is already in place across The Westpac Group. To support Brokers on the Victorian and Queensland VoI requirements and changes to the existing SA, WA and NSW VoI Standard. Background The Victorian and Queensland Governments introduced a Verification of Identity Standard (VoI Standard) that affects conveyancing transactions (e.g. new mortgages) where the real property is located within Victoria or Queensland. The purpose of the VoI Standard is for the verification of the identity of a party involved in a conveyancing transaction (residential and commercial) in Victoria and Queensland and to reduce the potential risk of land title fraud and other improper land title dealings. The VoI Standard is already in place across The Westpac Group for South Australia, Western Australia and New South Wales for conveyancing transactions. These States will require minor changes to ensure a consistent approach is applied for all 5 states. 3

4 What are the key requirements? 1 Each individual involved in a conveyancing transaction in Victoria and or Queensland must be identified in a face to face in-person interview using a prescribed set of identification documents. The prescribed identification documents are slightly different and in addition to identification documents required as per AML/CTF IDV standards. The VoI Standard applies to new and existing customers. 2 A Verification of Identity (VoI) Certificate (for individuals) must be completed by the Broker selecting original documents used to verify the identity of the individual. 3 A Verification of Identity (VoI) Checklist and Certificate (for non-individual entities) must be completed by the Broker confirming: Existence and identity of each and every entity Who is authorised to act on behalf of the entity VoI of individual/s authorised to act on behalf of the entity 4 Current and original documents are to be sighted and attached to the VoI certificate/voi certificate checklist and returned with executed mortgage documents. Any material supporting verification of identity will be retained by the relevant mortgage processing area for at least seven years. 5 If the real property document (eg mortgage) is to be executed in a foreign country, the identity of the party executing the mortgage document is to be verified by: An Australian Consular Officer or an Australian Diplomat Officer OR; If the person being identified is a member of the Australian Defence Force (ADF), the mortgage document is to be verified by a Competent Officer 4

5 VoI Process Overview 5

6 The VoI Certificate - Individuals Key things you need to know: This form is used for Verification of Identity conducted in Australia during a face-to-face in person interview. A separate form is to be completed for each individual acting in the capacity of Borrower, Guarantor, Attorney under a Power of Attorney, or Identity Declarant. The verifier can only be a Bank staff member or a Bank accredited Broker (for Broker-originated applications). Current and original documents must be used for verification unless otherwise stated. (Except for an expired Australian Passport which has not been cancelled and was current within the preceding 2 years). If any document is written in a language other than English, it must be accompanied by an English translation prepared by an accredited translator. The Broker must certify copies of the original identification documents by signing, dating, and endorsing the copy as a true copy of the original document. 6

7 Which Identification Documents are required? At least one of the documents listed in Section 2 must be used where possible to identify the individual. If the documents supplied in Section 2 do not contain the full name (including all middle names), supplementary ID can be provided from Section 2.A. Remember: The verifier will need to ensure the person being identified has a reasonable likeness to the person in the photograph 7

8 VoI Certificate how do I complete it? Part 1 Enter the name of the person being identified Place a tick ( ) in the box beside the documents for which certified copies have been provided for Verification of Identity. 8

9 VoI Certificate how do I complete it? Part 2 Only if the documents supplied in Section 2 do not contain the full name, supplementary ID can be provided from Section 2.A. Place a tick ( ) in the box beside the documents for which certified copies have been provided for Verification of Identity. If the documents do not match e.g. due to a change of name, complete Section 2.B. Place a tick ( ) in the box beside the documents for which certified copies have been provided. Only if the documents from section 2 can not be provided, refer to Section 3. Refer to the IDENTITY DECLARANT section on page 14 for more information. Place a tick ( ) in the box beside the documents for which certified copies have been provided for Verification of Identity. 9

10 VoI Certificate how do I complete it? Part 3 Only if the documents from Section 2 or Section 3 can not be provided, refer to Section 4. Refer to the IDENTITY DECLARANT section on page 14 for more information. Place a tick ( ) in the box beside the documents for which certified copies have been provided for Verification of Identity. If the documents do not match e.g. due to a change of name, complete Section 4.A Place a tick ( ) in the box beside the documents for which certified copies have been provided. Enter your full name and occupation. Remember, the verifier can only be a Bank staff member or a Bank accredited Broker (for Broker-originated applications). Enter your signature, contact telephone number and the date. 10

11 The VoI Checklist and Certificate Non Individual Entities Key things you need to know: A VoI Checklist and Certificate is to be completed for all non-individual entities (i.e. new and existing customers) named on the real property document (e.g. mortgage). A VoI Checklist and Certificate (as listed in the previous slide) will be included with loan documentation for each individual authorised to act on behalf of the non-individual entity. E.g. If a director and a secretary are authorised, the loan documentation will include two VoI Checklists and two VoI Certificates 11

12 VoI Checklist and Certificate how do I complete it? Part 1 Remember to complete a VoI Certificate for each individual Fill in this section with a Y/N for Incorporated Companies incorporated under the Corporations Act Fill in this section with a Y/N for Incorporated Bodies not incorporated under the Corporations Act including Foreign Companies Fill in this section with a Y/N for Statutory Bodies 12

13 VoI Certificate and Checklist how do I complete it? Part 2 Fill in this section with a Y/N for Unincorporated Bodies including Standard Trusts, Unregulated Partnerships and Unincorporated Associations Fill in this section with a Y/N for Power of Attorney Enter your full name Enter the Non-Individual s name and ACN, ABN, ARBN, ARSN if appropriate Remember, the verifier can only be a Bank staff member or a Bank accredited Broker (for Broker-originated applications). Enter the full name of the person(s) being identified on the VoI Certificate Enter your signature and the date Enter your Name, Position, Address and 13

14 Identity Declarants What you need to know Where an individual can not provide photographic identification documents as listed in Section 2, an Identity Declarant s Statutory Declaration is to be completed. The person being identified and the Identify Declarant are to attend the same face-to-face in person interview with the Verifier (or their agent) The Verifier (or their agent) is to verify the identity of the Identity Declarant using at least one Photographic Identity document, and a separate Verification of Identity Certificate Prepare Customer Identity Declarant Requirements ID Customer and Declarant VoI Certification Advise the customer of requirement to provide an Identity Declarant Statutory Declaration and what ID documentation is to be provided by the nominated Declarant The Identity Declarant Statutory Declaration form can be downloaded from Forms Catalogue The Identity Declarant must be: An adult Known to the individual for 12 months Not a relative of the person being identified; and Not a party to the conveyancing transaction: and Where section 4 on the Verification of identify Certificate is used, the identify Declarant must be a Australian Legal Practitioner, Bank Manager, Community Leader, Court Officer, Medical Doctor, Land Council Officeholder, Licensed Conveyancer, Local Government Officeholder, Nurse, Public Servant, Police Officer Verify the identity of the individual on the real property document (eg mortgage) and the Identity Declarant in the same face-to-face in-person interview using the prescribed identification documents. Complete a VoI Certificate for each individual listed on the real property document (eg mortgage) and the nominated Identity Declarant (refer to page 6). Return the VoI Certificate and certified copies of the ID with the executed loan documents. 14

15 Overseas VoI What you need to know If the real property document (eg mortgage) is to be executed in a foreign country, the Verification of Identity and Witnessing of a mortgage is to be verified by: a) An Australian Consular Officer or an Australian Diplomat Officer OR ; b) If the person being identified is a member of the Australian Defence Force (ADF), the mortgage document is to be verified by a Competent Officer What do I tell customers? 1. Inform the customer of the above requirements 2. Inform the customer that they will be provided with: i. Instructions for Overseas Verification of Identity (VoI) and Witness Process and ii. Australian Embassy/High Commission/Consulate Identity/Witnessing Certification 3. Inform the customer that they will be required to have a valid and current passport which includes their signature. To provide lenders with support, an Instruction for Overseas Verification of Identity (VoI) and Witness Process will be included with loan documentation. This is for internal use only and will not be provided to the customer. 15

16 Overseas VoI - Overview Note: If the person being identified is a member of the Australian Defence Force serving overseas, the Alternate Identity/Witnessing Certificate is to be completed by a Competent Officer 16

17 Overseas VoI Certification & Instruction Letter Australian Embassy/High Commission/Consulate Identity/Witnessing Certification to be completed by the Australian Consular Office, for each of the borrowers. Alternate Identity/Witnessing Certification to be completed by a Competent Officer, if the person being identified is a member of the Australian Defence Force (ADF) Instructions for Overseas Verification of Identity (VoI) and Witness Process will be produced for the customer and for the lender. 17

18 What s Changed for SA, WA and NSW? What you need to know The Verification of Identity for new and existing customers is already in place across The Westpac Group for South Australia, Western Australia and New South Wales. 1 2 SA, WA and NSW will use the same VoI Certificate as VIC and QLD. Refer to page 6 The ID documents have changed and there is a reduction in the number of ID documents customers need to supply. Refer to page 7 There are however, some minor changes as listed. 3 There is a new process for conducting VoI overseas. Refer to pages

19 Need more information? Refer to the attached FAQs for more information on Victorian and Queensland Verification of Identity. Refer to the procedures in SupportPoint. The following documents will be available from the Forms catalogue on the intranet site from the 1 st August 2016: VoI Certificate VoI Certificate and Checklist Identity Declarant s Statutory Declaration For Overseas VoI: Australian Embassy/High Commission/Consulate Identity/Witnessing Certification Alternate Identity/Witnessing Certification Instructions for Overseas Verification of Identity (VoI) and Witness Process (Customer & Lender) 19