Data collection and verification per organisation type

List of different identity verification procedures that bronID follows depending on the type of organisation that is verified.

bronID follows different identity verification procedures depending on the type of organisation that is verified. For each organisation type, bronID verifies the organisation and identifies and verifies its Ultimate Beneficial Owners (UBOs). In some cases, the organisation may not have UBOs, or there is no need for them to be identified and verified.

Different verification procedures may be applied, depending on the organisation type and your preferences. The UBOs, can also be verified with different verification procedures as outlined in the third column of the tables below.

1. Individuals

Data collection Data verification Verification procedure
  1. full name;
  2. date of birth;
  3. residential address.
  1. full name;
  2. date of birth or the residential address.
  1. electronic Safe-Harbour; or
  2. e-Document procedure; or
  3. hybrid procedure.

2. Individual customer acting as a sole trader

Data collection Data verification Verification procedure
  1. full name;
  2. date of birth;
  3. residential address;
  4. the full business name the customer uses for their business (if any);
  5. Australian Business Number (ABN) (if any).
  1. full name;
  2. date of birth or the residential address;
  3. the full business name the customer uses for their business (if any);
  4. Australian Business Number (ABN) (if any).
Verification of the individual
  1. electronic Safe-Harbour; or
  2. e-Document procedure; or
  3. hybrid procedure.
Verification of the sole trader
  1. electronic verification.

3.  Companies

3.1. Domestic companies

Standard procedure

Data collection Data verification Verification procedure
  1. company’s full name, as registered by ASIC;
  2. ACN;
  3. the full address of the company’s registered office;
  4. the full business name the customer uses for their business (if any);
  5. the name of each director;
  6. full name, date of birth and the address of the UBOs.
  1. company’s full name, as registered by ASIC;
  2. ACN;
  3. the identity of the UBOs.
Verification of the UBOs and other individuals
  1. electronic Safe-Harbour; or
  2. e-Document procedure; or
  3. hybrid procedure.
Verification of the company
  1. electronic verification.

Simplified procedure

A company is verified with a simplified procedure if it satisfies at least one of the following criteria:

  • is a domestic (registered in Australia) company, listed on an Australian stock      exchange;
  • is a majority-owned subsidiary of a domestic company listed on an Australian or      foreign stock exchange;
  • is licensed and regulated by a Commonwealth, state or territory government regulator.

The Ultimate Beneficial Owners of a company verified with a simplified verification procedure are not identified or verified.

Data collection Data verification Verification procedure
  1. company’s full name, as registered by ASIC;
  2. ACN;
  3. the full address of the company’s registered office;
  4. the full address of the company’s main place of business (if any);
  5. the name of each director;
  6. the ticker of the Stock Exchange where the company is listed or the license under which operates.
  1. company’s full name, as registered by ASIC;
  2. ACN;
  3. the ticker of the Stock Exchange where it is listed or the license under which it operates.
Verification of the company
  1. electronic verification.

3.2. Registered foreign companies

Standard procedure

Data collection Data verification Verification procedure
  1. company’s full name, as registered by ASIC;
  2. ARBN;
  3. the full address of the company’s main place of business or agent in Australia (if any);
  4. name of the country where the company was formed, incorporated or registered;
  5. registration with relevant foreign registration body;
  6. the name of each director;
  7. full name, date of birth and the address of the UBOs.
  1. company’s full name, as registered by ASIC;
  2. ARBN
  3. the company registration with a foreign registration body;
  4. the identity of the UBOs.
Verification of the UBOs and other individuals
  1. electronic Safe-Harbour; or
  2. e-Document procedure; or
  3. hybrid procedure.
Verification of the company
  1. electronic verification.

Simplified procedure

A company is verified with a simplified procedure if it satisfies at least one of the following criteria:

  • is a foreign listed public company subject to ‘transparency of beneficial owner’      disclosure requirements (whether by stock exchange rules or by law or enforceable means) which are, or are comparable to, the requirements in Australia.

The Ultimate Beneficial Owners of a company verified with a simplified verification procedure are not identified or verified.

Data collection Data verification Verification procedure
  1. company’s full name, as registered by ASIC;
  2. ARBN;
  3. the full address of the company’s main place of business or agent in Australia (if any);
  4. name of the country where the company was formed, incorporated or registered;
  5. the name of each director;
  6. the ticker of the Stock Exchange where the company is listed or the license under which operates.
  1. company’s full name, as registered by ASIC;
  2. ARBN;
  3. the company registration with a foreign registration body;
  4. the ticker of the Stock Exchange where it is listed or the license under which it operates.
Verification of the company
  1. electronic verification.

3.3. Unregistered foreign companies (registered by relevant foreign registration body)

Standard procedure

Data collection Data verification Verification procedure
  1. company’s full name;
  2. the full address of the principal place of business of the company in the country where it was formed or incorporated;
  3. name of the country where the company was formed, incorporated or registered;
  4. registration with relevant foreign registration body;
  5. the name of each director;
  6. full name, date of birth and the address of the UBOs.
  1. company’s full name, as registered with a foreign registration body;
  2. the identity of the UBOs.
Verification of the UBOs and other individuals
  1. electronic Safe-Harbour; or
  2. e-Document procedure; or
  3. hybrid procedure.
Verification of the company
  1. electronic verification.

Simplified procedure

A company is verified with a simplified procedure if it satisfies at least one of the following criteria:

  • is a foreign listed public company subject to ‘transparency of beneficial owner’ disclosure requirements (whether by stock exchange rules or by law or enforceable means) which are, or are comparable to the requirements in Australia.

The Ultimate Beneficial Owners of a company verified with a simplified verification procedure are not identified or verified.

Data collection Data verification Verification procedure
  1. company’s full name;
  2. the full address of the principal place of business of the company in the country where it was formed or incorporated;
  3. name of the country where the company was formed, incorporated or registered;
  4. registration with relevant foreign registration body;
  5. the name of each director;
  6. the ticker of the Stock Exchange where the company is listed or the license under which operates.
  1. company’s full name, as registered with a foreign registration body;
  2. the ticker of the Stock Exchange where it is listed or the license under which it operates.
Verification of the company
  1. electronic verification.

4. Partnerships

Data collection Data verification Verification procedure
  1. the partnership’s full name;
  2. the full business name as registered with any state or territory business name authority;
  3. the full name, date of birth and address of each partner;
  4. the name of the country where the partnership was established.
  1. the partnership’s full name;
  2. the identity of at least one of the partners;
  3. the identity of other UBOs.
Verification of the individuals
  1. electronic Safe-Harbour; or
  2. e-Document procedure; or
  3. hybrid procedure.
Verification of the entity
  1. electronic verification;
  2. digital document verification.

5. Trustees


Standard procedure

Data collection Data verification Verification procedure
  1. the full name of the trust;
  2. the type of trust;
  3. the country where the trust was established;
  4. the full business name of the trustee (if any);
  5. the names and addresses of all trustees;
  6. collect the full name, date of birth and address of the settlor if the asset contribution to the trust is $10,000 or more;
  7. the full name, date of birth and the address of all UBOs of the trust.
  1. the full name of the trust;
  2. the identity of at least one trustee;
  3. the identity of the settlor if the asset contribution to the trust is $10,000 or more;
  4. the identity of all UBOs.
Verification of the UBOs or individual trustees
  1. electronic Safe-Harbour; or
  2. e-Document procedure; or
  3. hybrid procedure.
Verification of the trust
  1. digital document verification.
Verification of the trustee
  1. digital document verification;
  2. electronic verification. 

Simplified procedure

Data collection Data verification Verification procedure
  1. the full name of the trust;
  2. the type of trust;
  3. the country where the trust was established;
  4. the full business name of the trustee (if any);
  5. the names and addresses of all trustees;
  6. the names and addresses of all trustees.
  1. the full name of the trust;
  2. the identity of at least one trustee.
Verification of the trust
  1. electronic verification.
Verification of the trustee
  1. digital document verification;
Verification of individual trustee
  1. electronic Safe-Harbour; or
  2. e-Document procedure; or
  3. hybrid procedure.

6. Associations

Data collection Data verification Verification procedure
  1. the full name of the association;
  2. any unique identifying number issued to the association by the incorporating state, territory or overseas ‘incorporation body’;
  3. the country where the association was established;
  4. the full name of the chair, secretary and treasurer or equivalent officer (in each case);
  5. the address of the registered office or the residential address of the public officer;
  6. the full name, date of birth and the address of the UBOs.
  1. the full name of the association;
  2. any unique identifying number issued to the association by the incorporating state, territory or overseas ‘incorporation body’;
  3. the identity of the public officer, president, secretary or treasurer.
Verification of the UBOs, public officer or equivalent
  1. electronic Safe-Harbour; or
  2. e-Document procedure; or
  3. hybrid procedure.
Verification of the association
  1. electronic verification.

7. Registered co-operatives

Data collection Data verification Verification procedure
  1. the full name of the co-operative;
  2. the full name of the chair, secretary and treasurer or equivalent officer (in each case);
  3. any unique identifying number issued to the co-operative by the incorporating state, territory or overseas ‘incorporation body’;
  4. the country where the co-operative was established;
  5. the address of the registered office, the principal place of business or the residential address of the co-operative’s secretary;
  6. the names, date of birth and the address of UBOs.
  1. the full name of the co-operative;
  2. any unique identifying number issued to the co-operative by the incorporating state, territory or overseas ‘incorporation body’;
  3. the identity of the of the chair, secretary or the treasurer, or equivalent officer (in each case).
Verification of the UBOs, public officer or equivalent
  1. electronic Safe-Harbour; or
  2. e-Document procedure; or
  3. hybrid procedure.
Verification of the association
  1. electronic verification;
  2. digital document verification.

8. Government Body

Data collection Data verification Verification procedure
  1. the full name of the government body;
  2. the full address of the government body’s principal place of operations;
  3. whether the government body is a separate legal entity, agency or authority;
  4. the legislation the government body was established under.
  1. the full name of the government body;
  2. the full address of the government body’s principal place of operations.
Verification of the government body
  1. electronic verification;
  2. digital document verification.

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