bronID follows different identity verification procedures depending on the type of organisation being verified. For each organisation type, bronID verifies the organisation itself and identifies and verifies its Ultimate Beneficial Owners (UBOs). In some cases, an organisation may have no UBOs, in which case an alternative person is identified and verified instead. Certain entity types qualify for a simplified verification procedure that does not require identifying or verifying UBOs.
The verification procedure applied will depend on the organisation type and the preferences configured in your IDV Rules. UBOs may also be verified using different procedures depending on your configuration, for example, electronic verification (Data) versus eKYC (Document).
Sole Traders
| Parameter | Collect | Verify | Procedure |
|---|---|---|---|
| Evidence of existence | YES | YES | The existence of the sole trader is verified with the ABR |
| Business name used for conduct of business | YES | YES | All business names are collected from the ABR |
| Other names the business is commonly known by | YES | NO | All business names are collected from the ABR |
| Unique identifier for the business (if any) | YES | YES | The ABN is verified with the ABR |
| Address of principal place of business | YES | NO | This is collected as the residential address of the customer |
| Identity of the individual | YES | YES* | The individual is verified in accordance with the individual verification procedure |
| Nature of the entity (general commercial activity or sector, and kinds of products and services it offers) | YES | NO | Collected from the customer and/or secondary sources |
Australian Company
| Parameter | Collect | Verify | Procedure |
|---|---|---|---|
| Evidence of existence | YES | YES | The existence of the company is verified with ASIC |
| Full name (as registered with ASIC) | YES | YES | The full name is verified with ASIC |
| ACN (Australian Company Number) | YES | YES | The ACN is verified with ASIC/ABR |
| Business names | YES | NO | All business names are collected from the ABR |
| Other names commonly known by | YES | NO | All business/trade names are collected from the ABR |
| ABN (if applicable) | YES | NO | The ABN is collected/verified with the ABR where applicable |
| Principal place of business address | YES | NO | The place of business address is collected from ASIC |
| Registered office address (if different from principal place) | YES | NO | The registered office address is collected from ASIC |
| Full names of directors/board members | YES | NO | The names of the directors are collected from ASIC |
| Identity of any beneficial owners | YES | YES* | UBOs are identified and verified |
| Nature of the entity (general commercial activity or sector, and kinds of products and services it offers) | YES | NO | Collected from the customer and/or secondary sources |
Registered Foreign Company
| Parameter | Collect | Verify | Procedure |
|---|---|---|---|
| Evidence of existence | YES | YES | The existence of the company is verified with ASIC |
| Full name (as registered with ASIC) | YES | YES | The full name is verified with ASIC |
| ARBN (Australian Registered Body Number) | YES | YES | The ARBN is verified with ASIC |
| Whether registered with relevant foreign registration body | YES | YES | The entity is verified with the foreign corporate register |
| Whether registered as private or public company | YES | YES | The type of entity is verified with ASIC and foreign registers |
| Business names | YES | NO | All business names are collected from the foreign corporate register (where applicable) |
| Other names commonly known by | YES | NO | All business names are collected from the foreign corporate register (where applicable) |
| ABN (if applicable) | YES | NO | The ABN is collected/verified with the ABR where applicable |
| Principal place of business address | YES | NO | The place of business address is collected from ASIC or the foreign corporate register |
| Registered office address (if different from principal place) | YES | NO | The registered office address is collected from ASIC or the foreign corporate register (where applicable) |
| Full names of directors/board members | YES | NO | The names of the directors are collected from ASIC and/or the foreign corporate register |
| Director identification numbers (where applicable) | YES | NO | Usually not applicable for foreign companies |
| Identity of any beneficial owners | YES | YES* | UBOs are identified and verified |
| Nature of the entity (general commercial activity or sector, and kinds of products and services it offers) | YES | NO | Collected from the customer and/or secondary sources |
Unregistered Foreign Company
| Parameter | Collect | Verify | Procedure |
|---|---|---|---|
| Evidence of existence | YES | YES | The existence of the company is verified with foreign corporate and commercial registers. In some cases with offshore entities, the existence may be verified with authorised agent disclosures |
| Full name | YES | YES | The full name of the company is verified with foreign corporate and commercial registers |
| Whether registered by relevant foreign registration body | YES | YES | The company is verified with foreign corporate and commercial registers |
| Identification number issued by foreign registration body | YES | YES | The unique company identifiers are collected and verified with the foreign corporate and commercial registers. In some cases with offshore entities, the identifiers may be verified with authorised agent disclosures |
| Business names | YES | NO | All business names are collected from the foreign corporate register (where applicable) |
| Other names commonly known by | YES | NO | All business names are collected from the foreign corporate register (where applicable) |
| Principal place of business address | YES | NO | The place of business address is collected from the foreign corporate register |
| Registered office address (if different from principal place) | YES | NO | The registered office address is collected from the foreign corporate register (where applicable) |
| Full names of directors/board members | YES | NO | The names of the directors are collected from the foreign corporate register. For certain countries where this is not possible, the names of the directors are collected directly from the customer |
| Identity of any beneficial owners | YES | YES* | UBOs are identified and verified |
| Nature of the entity (general commercial activity or sector, and kinds of products and services it offers) | YES | NO | Collected from the customer and/or secondary sources |
Partnership
| Parameter | Collect | Verify | Procedure |
|---|---|---|---|
| Evidence of existence | YES | YES | The partnership existence is verified by reviewing the partnership deed, ABR or ASIC |
| Full name | YES | YES | The partnership name is verified by reviewing the partnership deed, ABR or ASIC |
| ABN of the partnership business (if any) | YES | YES | The ABN is verified with the ABR (where applicable) |
| Names of all partners (if no partnership name) | YES | NO | The names of the partners are verified from the partnership deed |
| Business names | YES | NO | All business names are collected from ABR/ASIC |
| Other names commonly known by | YES | NO | All business/trade names are collected from the ABR |
| Principal place of business address | YES | NO | The principal place of business is collected from self-disclosure or the partnership agreement |
| Registered office address (if different from principal place) | YES | NO | The registered office is collected from self-disclosure or the partnership agreement (where applicable) |
| Partnership agreement | YES | NO | The partnership agreement is collected from the customer |
| Full names of all partners | YES | NO | The partners are collected from the partnership agreement or associated deeds. They may also be collected from government registers such as ASIC or foreign registers |
| Identity of any beneficial owners | YES | YES* | UBOs are identified and verified |
| Nature of the entity (general commercial activity or sector, and kinds of products and services it offers) | YES | NO | Collected from the customer and/or secondary sources |
Incorporated Association
| Parameter | Collect | Verify | Procedure |
|---|---|---|---|
| Evidence of existence | YES | YES | The association existence is verified with the ABR, ACNC or the State Association register, or a combination |
| Full name | YES | YES | The association name is verified with the ABR, ACNC or the State Association register, or a combination. If this is not possible, then a reliable document is collected such as the Constitution, Rules, Board Minutes or similar |
| Names of all members (if no association name) | YES | NO | |
| Business names | YES | NO | All business names are collected from the ABR (if applicable) |
| Other names commonly known by | YES | NO | All business/trade names are collected from the ABR (if applicable) |
| Unique identifier (if any) | YES | YES (if applicable) | The association number or ABN is verified with the ABR, ACNC or the State Association register, or a combination |
| Principal place of business address | YES | NO | The principal place of business address is collected from the ACNC or the State Association register, or a combination. When this is not possible, the address is collected from the customer |
| Registered office address (if different from principal place) | YES | NO | The registered office address is collected from the ACNC or the State Association register, or a combination. When this is not possible, the address is collected from the customer |
| Constitution or rules of association | YES | NO | Collected only when needed, if an association extract or ACNC extract is not available. Alternatively collected from the ACNC, the State Association register or the customer |
| Full names of committee members | YES | NO | The committee members and the relevant officeholders are collected from the ACNC or the State Association register. If this is not possible, they are collected from the customer by requesting relevant documents |
| Identity of any beneficial owners | YES | YES* | UBOs are identified and verified |
| Nature of the entity (general commercial activity or sector, and kinds of products and services it offers) | YES | NO | Collected from the customer and/or secondary sources |
Unincorporated Association
| Parameter | Collect | Verify | Procedure |
|---|---|---|---|
| Evidence of existence | YES | YES | The association existence is verified with the ABR or ACNC; if this is not possible, then relevant documents such as the Constitution, Rules and Disclosure Certificates are collected |
| Full name from rules or constitution | YES | YES | The association name is verified with the ABR or ACNC; if this is not possible, then relevant documents such as the Constitution, Rules and Disclosure Certificates are collected |
| Names of all members (if no association name) | YES | NO | |
| Business names | YES | NO | All business names are collected from the ABR (if applicable) |
| Other names commonly known by | YES | NO | All business/trade names are collected from the ABR (if applicable) |
| Unique identifier (if any) | YES | YES (if applicable) | The ABN is verified with the ABR. Usually Unincorporated Associations do not have other numbers |
| Principal place of business address | YES | NO | The principal place of business address is collected from the ACNC. When this is not possible because the entity is not a charity, the address is collected from the customer |
| Registered office address (if different from principal place) | YES | NO | The registered office address is collected from the ACNC. When this is not possible because the entity is not a charity, the address is collected from the customer |
| Constitution or rules of association | YES | NO | |
| Full names of committee members | YES | NO | The committee members and the relevant officeholders are collected from the ACNC. If this is not possible because the entity is not a charity, they are collected from the customer by requesting relevant documents |
| Identity of any beneficial owners | YES | YES* | UBOs are identified and verified |
| Nature of the entity (general commercial activity or sector, and kinds of products and services it offers) | YES | NO | Collected from the customer and/or secondary sources |
Registered Co-operative
| Parameter | Collect | Verify | Procedure |
|---|---|---|---|
| Evidence of existence | YES | YES | The co-operative existence is verified with the ABR, ACNC or the relevant State Register, or a combination |
| Full name | YES | NO | The co-operative name is verified with the ABR, ACNC or the relevant State Register, or a combination. If this is not possible, then a reliable document is collected such as the Constitution, Rules, Board Minutes or similar |
| Business names | YES | NO | All business names are collected from the ABR (if applicable) |
| Other names commonly known by | YES | NO | All business/trade names are collected from the ABR (if applicable) |
| Unique identifier (if any) | YES | YES (if applicable) | The co-operative unique identifier is verified with the ABR, ACNC or the relevant State Register, or a combination. If this is not possible, then a reliable document is collected such as the Constitution, Rules, Board Minutes or similar |
| Principal place of business address | YES | NO | The principal place of business address is collected from the ACNC or the relevant State Register, or a combination. When this is not possible, the address is collected from the customer |
| Registered office address (if different from principal place) | YES | NO | The registered office address is collected from the ACNC or the relevant State Register, or a combination. When this is not possible, the address is collected from the customer |
| Constitution or equivalent document | YES | NO | |
| Full names of board members | YES | NO | The committee members and the relevant officeholders are collected from the ACNC. If this is not possible because the entity is not a charity, they are collected from the customer by requesting relevant documents |
| Identity of any beneficial owners | YES | YES* | UBOs are identified and verified |
| Nature of the entity (general commercial activity or sector, and kinds of products and services it offers) | YES | NO | Collected from the customer and/or secondary sources |
Registered Indigenous Corporation
| Parameter | Collect | Verify | Procedure |
|---|---|---|---|
| Evidence of existence | YES | YES | The Indigenous corporation existence is verified with the ABR, ACNC or ORIC, or a combination |
| Full name | YES | NO | The Indigenous corporation name is verified with the ABR, ACNC or ORIC, or a combination. If this is not possible, then a reliable document is collected such as the Constitution, Rules, Board Minutes or similar |
| Business names | YES | NO | All business names are collected from the ABR (if applicable) |
| Other names commonly known by | YES | NO | All business/trade names are collected from the ABR (if applicable) |
| Unique identifier (if any) | YES | YES (if applicable) | The Indigenous corporation unique identifier is verified with the ABR, ACNC or ORIC, or a combination. If this is not possible, then a reliable document is collected such as the Constitution, Rules, Board Minutes or similar |
| Principal place of business address | YES | NO | The principal place of business address is collected from the ACNC or ORIC, or a combination. When this is not possible, the address is collected from the customer |
| Registered office address (if different from principal place) | YES | NO | The registered office address is collected from the ACNC or ORIC, or a combination. When this is not possible, the address is collected from the customer |
| Constitution or equivalent document | YES | NO | |
| Full names of board members | YES | NO | The committee members and the relevant officeholders are collected from the ACNC and/or ORIC. If this is not possible because the entity is not a charity, they are collected from the customer by requesting relevant documents |
| Identity of any beneficial owners | YES | YES* | UBOs are identified and verified |
| Nature of the entity (general commercial activity or sector, and kinds of products and services it offers) | YES | NO | Collected from the customer and/or secondary sources |
Trust
| Parameter | Collect | Verify | Procedure |
|---|---|---|---|
| Evidence of existence | YES | YES | The trust existence is verified with the ABR, ACNC or relevant documentation such as the trust deed and other deeds. Usually a combination of sources is used where applicable |
| Full name of the trust | YES | YES | The trust name is verified with the ABR, ACNC or relevant documentation such as the trust deed and other deeds. Usually a combination of sources is used where applicable |
| Trust type or equivalent | YES | YES | The trust type is collected/verified with the ABR, ACNC or relevant documentation such as the trust deed and other deeds. Usually a combination of sources is used where applicable |
| Business names | YES | NO | All business names are collected from the ABR (if applicable) |
| Other names commonly known by | YES | NO | All business/trade names are collected from the ABR (if applicable) |
| Unique identifier (ABN if applicable) | YES | YES | The ABN is verified with the ABR and the SMSF lookup where applicable |
| Principal place of business or operations address | YES | NO | This is the address of the Trustees and is collected directly from the customer, ASIC, or provided documentation |
| Information about powers that bind and govern the trust | YES | YES | The trust deed and other relevant deeds such as Deeds of Variation, Deeds of Amendment, Unit Registers etc. are collected and machine analysed |
| Individuals responsible for governance and executive decisions | YES | YES* | This is obtained from the trust deed and other relevant deeds such as Deeds of Variation, Deeds of Amendment, Unit Registers etc., which are collected and machine analysed |
| Identity of each beneficiary (or class of beneficiaries if individuals cannot be identified) | YES | YES* | This is obtained from the trust deed and other relevant deeds such as Deeds of Variation, Deeds of Amendment, Unit Registers etc., which are collected and machine analysed. When there are extremely high numbers of beneficiaries or no named beneficiaries, a description of each class of beneficiaries (e.g. "children and descendants", "charitable beneficiaries", "investors") is collected and verified instead of individual identities |
| Identity of all trustees | YES | YES* | All trustees are verified with the relevant procedure for an individual or an entity |
| Identity of any settlor, appointor, guardian or protector | YES | YES* | The settlor is verified only if the settled sum is $10,000 or more, or if they still have an active role in the trust (this is usually not the case). All other roles (appointor, guardian or protector) are identified and verified |
| Identity of any beneficial owners | YES | YES* | UBOs are identified and verified |
| Nature of the entity (general commercial activity or sector, and kinds of products and services it offers) | YES | NO | Collected from the customer and/or secondary sources |
Government Body
| Parameter | Collect | Verify | Procedure |
|---|---|---|---|
| Evidence of existence | YES | YES | The government body existence is checked by reviewing the law or executive decision/order establishing the agency, an extract from the official government website, ABN Lookup, and government reports and directories |
| Full name of the government body | YES | YES | The full name is verified with the official government website (.gov.au domain), ABN Lookup on the Australian Business Register, legislation or executive decision on the official government website, and government reports and directories |
| Other names commonly known by | YES | NO | All business/trade names are collected from the ABR (if applicable). International business name registers are used for international government bodies where applicable |
| Name of country or part of country under which the government body is established | YES | YES | The country or region of establishment is collected from the customer and then verified with official government sources, the ABN Lookup or a proprietary database |
| Unique identifier (if any has been given) | YES | NO | All business names are collected from the ABR (if applicable) or the relevant international business name database |
| Principal place of business or operations address | YES | YES | The principal place of business is collected from the customer and then cross-referenced with the official government website, ABN Lookup, government reports and directories, and reliable and independent publicly available details |
| Full name of individuals with primary responsibility for governance and executive decisions | YES | NO | Collected from the customer or the official government website, government reports and directories, and reliable and independent publicly available details |
| Identity of any beneficial owners | YES | YES/NO* | At least one UBO must be identified and verified if the entity cannot be verified with a Simplified Procedure. Most government bodies will not have UBOs and/or can be verified with a Simplified Procedure |
| Nature of the entity (general commercial activity or sector, and kinds of products and services it offers) | YES | NO | Collected from the customer and/or secondary sources |
