Client onboarding is the first step in the Firm Verify AML/CTF compliance process. You use it to capture the information required for the AUSTRAC onboarding forms before customer due diligence (CDD) can begin under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth).
This article explains how to start onboarding for a new or existing client, complete each page of the onboarding screen, and generate the onboarding.
Contents
- Overview
- Navigation
- Start onboarding
- Complete the client onboarding screen
- Frequently asked questions
1. Overview
The client onboarding screen is a four-page workflow:
- Details - where you enter or confirm details for your client.
- Related parties - where you add all related parties for this client, including representatives, key position holders and beneficial owners.
- Documents
- Services - where you select the designated services and delivery channels for this client.
The fields and steps you see adapt to the client type you select. Firm Verify supports these client types:
- Individual / Sole Trader
- Company
- Trust
- Self Managed Super Fund
- Partnership
- Association
- Government Body
2. Navigation
| From the Main Toolbar, navigate to Clients. | |
| Select Start. |
3. Start Onboarding
On the Clients screen, click Start, then choose one of the following:
- Adding a client or group of clients - for a client not yet in Firm Verify.
-
Onboarding a client (under Continue with an existing client) - for a client or contact already in Firm Verify.
Add a client or group of clients
| 1 |
Choose the client type. Select Group, Individual / Sole Trader, Company, Trust, Self Managed Super Fund, Partnership, Association or Government Body. If you switch to a different client type, a message displays warning that switching removes the details you've already entered. |
| 2 | Enter the details. The details screen differs for each client type. |
| 3 | Configure the assignment settings. |
| 4 | Click Save |
Use Next and Previous to move between steps, or Cancel to exit.
Continue with an existing client
| 1 | Search for the client. |
| 2 | Select the client's contact to open the client onboarding screen. |
Already created the contact?
You can also start onboarding from the Clients screen. Search for the contact, then under Actions, click the three dots and select Onboarding.
4. Complete the client onboarding screen
The client onboarding screen is where you capture the information required for the AUSTRAC onboarding forms. It has four pages: Details, Related parties, Documents and Services.
Work through each page and click Next to continue.
Click Save for later to keep your progress and return later,
or Cancel to exit.
| 1 |
Details
|
| 2 |
Related parties Add all related parties for the client, including representatives, key position holders and beneficial owners.
|
| 3 |
Documents Review and complete the document verification for each person and entity. This page doesn't block you from continuing, you can move to the next page before every document is complete. |
| 4 |
Services Select the designated services to be provided and the delivery channels for this client. The options listed come from your firm's risk assessment.
|
To finalise onboarding, click Generate.
Generating also downloads a Client Onboarding Record that shows all the information you entered.
Once onboarding is complete, the client's status updates to Active on the Clients screen.
5. Frequently asked questions
Can I change the client type during onboarding?
No. The client name and client type are shown on the Details page but can't be edited there.
Does Firm Verify look up the ABN or ACN for me?
No. Enter the ABN or ACN manually.
Do I need to complete every document before I can continue?
No. The Documents page doesn't block you from moving to the Services page.
Where do the services and delivery channels come from?
They come from your firm's risk assessment.