The updated CDD management system is a better way to manage your CDD workflow. You can now:

Associate repeat clients and their docs to multiple transactions
Cut down on repetitive data entry for CDD
Make changes to client records without unverifying
Enjoy easy auditing with automatic capture of transaction verification

Watch the demo video

Who can use the updated CDD tool?

This tool is available for all Admin-level and above AMLHUB users.

In the Real Estate industry this is restricted to admin staff for privacy reasons. For service industry clients it can be enabled for all staff, if appropriate.

What's different?

There are a few key changes to the CDD register that provide greater functionality while cutting down on admin work.

When you create an owner you can select what type they are from a new pop-up window, e.g. individual, company, partnership...
Owners can be associated to multiple transactions.
Verifying a transaction create a 'Snapshot' of what the transaction looked like at the time of verification.
Changing a verified transaction will require the user to click the 'Update Deal/Owner' button to navigate to the editable screen for that transaction.

How it works

Onboarding an owner

1. Create your transaction in the AMLHUB via the CDD register.

2. Provide a name for your transaction and click ‘Create’.

3. Click the ‘…’ icon and select ‘Add Owner’.

4. Choose the type of owner you are onboarding from the pop-up box.

5. Enter their name and date of birth and click 'Create New Individual'.

6. Add their information as usual and verify.

Reusing a CDD record

For repeat clients it's easy to add their CDD record to a transaction.

1. Create the transaction and click the ‘…’ icon and select ‘Add Owner’.

2. Choose the type of owner that your repeat client is from the pop-up box.

3. Search for the name of the owner. The AMLHUB will list all owners that match the name. If too many records appear, you can use the first name and date of birth fields to further filter.

4. The colour of the icon indicates the verification status. Green for verifications under 30 days. Orange for verifications older than 30 days. Grey for no verification history.

5. Click 'Use this record' to add the owner to your transaction in the AMLHUB. If required, update any documentation and re-verify the owner.

6. Verify the transaction as normal.

Snapshots explained

When a transaction is verified a 'Snapshot' is taken. Snapshots are a static record of every aspect of the transaction at the time of verification. Snapshots cannot be edited.

Example of a snapshot of a verified transaction.

Once a transaction is verified, by default the AMLHUB will show you the most recent snapshot (i.e. the most recent verification) of the transaction. This is indicated by the pink background.

It's important to note that the entities shown may have since been re-used and changed. The snapshot always displays details as of verification date and time.

To make changes to a verified transaction you will need to click the red 'Update Deal/Owners' button at the top-right.

When changes are made and the transaction re-verified, another snapshot will be taken and added to the archive drop-down at the top-right of the transaction.

Example | How it works in practice

The Shakespeare Company is selling the Globe Theatre. It has two directors.

The real estate agency creates the deal in the AMLHUB and adds the Beneficial Owners to the company structure.

The deal is verified and the AMLHUB takes a snapshot of the verified deal. The Globe Theatre is sold.

Snapshot of a verified deal - notable by the pink background

Six months later The Shakespeare Company sells the Sydney Opera House. However, one of the directors has since been replaced.

The real estate agency searches for, and adds the Shakespeare Company Owner Profile to the deal.

The agency then deletes the old director from the company owner profile.

The new director is added with identity documents, and verified. The deal is verified and a snapshot is taken of the verified deal. The Sydney Opera House is sold.

Snapshot of a verified deal with updated directors for The Shakespeare Company

When viewing the first deal with the Globe Theatre, it will show the original two directors in the snapshot, as they were Beneficial Owners at the time the deal was verified and the snapshot was taken.

The second deal will show the updated directors in the snapshot.

Frequently Asked Questions

I have multiple individuals to choose from. How do I know which one is the one I want?

You can filter down the records by adding their first name and last name, and looking at their date of birth, email address, and previous transactions they have been associated with. Expand the record by clicking the side arrow. If you are certain that the record is the right one, click ‘Use this Record’.

You can also simply create a new record from scratch. AMLHUB will be developing a Merge function later, to combine duplicate records.
I have multiple companies/trusts etc to choose from. How do I know which one is the one I want?

You can filter down the records by company name, and if necessary, any beneficial owner last name. Expand the record by clicking the side arrow. If you are certain that the record is the right one, click ‘Use this Record’.
You can also simply create a new record from scratch. AMLHUB will be developing a Merge function later, to combine duplicate records.
Why does same person show up for each of the transactions they’ve been involved in?

The AMLHUB does not have enough information to determine if the individual within each separate transaction is the same person. This is why they may show up multiple times when searching for a CDD record to reuse.
Why am I seeing names I’ve never dealt with before show up?

If you have the relevant permissions, you can pull CDD records from across your Reporting Entity. For example, in real estate, AMLHUB administrators will be able to access records across their Reporting Entity’s branches.
For real estate, will the ability to reuse records only apply to those from my branch, or across my real estate network?

You can reuse CDD records across your real estate company network (reporting entity). This means you no longer need to send documents across branches for existing clients, and can maintain a single record for every one of your clients within your reporting entity.
Why can’t some of my staff find CDD records to reuse?

This is likely due to the permission levels they have been set in the AMLHUB.
How do I unverify a transaction/client?

You don’t need to do that anymore. Simply click the red ‘Update Deal/Owners’ button, update the details, and re-verify.
Why did my screen go red after verifying a transaction?

When you verify a transaction the AMLHUB now takes a snapshot. A snapshot is a static record of every aspect of your transaction at the time of verification. You can’t delete or edit them, and they are stored in the archive at the top right of your transaction’s screen.
I’ve verified my transaction and now I can’t change anything in the screen.

To make changes, click the red ‘Update Deal/Owners’ button at the top right. Make changes and reverify. On verification, AMLHUB will add a snapshot.
What do the green and orange tick icons beside my individuals' names mean?

The tick icons indicate verification status and whether something may have changed within that record.

A green tick icon for an individual, partnership, company...etc means that the record has been verified within the last 30 days. It may need to be reviewed before reuse.
An orange tick icon means the record has passed the 30-day mark and needs to be reviewed. It is also shown when something within a record has changed since last verification, e.g. if you have updated an individual's name or birthdate.
Can we reuse individuals' records outside the 30-day timeframe?

Refer to your organisation’s AML/CFT policy.

Clients reused within 30 days of verification will have a green tick by their name. Clients outside the 30-day window will have an orange tick by their name indicating their documents should be reviewed in case they’re out of date.

Once documents have been reviewed (and potentially updated), the client can be re-verified and on doing so will regain the green tick for another 30 days.
If we reuse a verified client after three or more months, will the ID documents previously used still be valid, or will they need to be re-verified, too?

Refer to your organisation’s AML/CFT policy.

If it’s been longer than 30 days since the last time your client was verified on the AMLHUB, the system will put an orange tick mark beside their record indicating that you should double-check their documents are valid according to your company policies. You can then reverify their record so that it turns back to green and continue working on the transaction.
Does CDD Reuse apply to companies and trusts, too?

Yes, you are able to reuse the records for companies, trusts, partnerships...etc. You will be able to update the individuals / documents / relevant details within the company / trust / partnership as needed, per transaction. See example of How It Works In Practice, above.
For real estate, do sales agents have access to CDD Reuse?

By default, sales agents do not have access to the CDD Reuse function. This is for privacy reasons.

There are three ways to manage CDD Reuse and the onboarding of clients by sales agents:
1. Agents collect and pass on documents as normal. This option is best practice for AML.
2. Upgrade their role in the AMLHUB.
3. Agent asks the client if they have sold through your reporting entity before, they make a file note in the app / desktop, and pass on to admin to pull the existing record into the deal.

Have any questions?

Get in touch with the AMLHUB team by emailing us at info@amlhub.co.nz