KYC Workbench

The KYC Workbench is where you manage the complete customer due diligence lifecycle — from initial identification and verification through to ongoing monitoring and scheduled reviews. It is your primary tool for meeting your CDD obligations under the AML/CTF Act.

Adding a customer

1. Navigate to Customers from the sidebar
2. Click Add Customer
3. Select the customer type:
   • Individual — a natural person
   • Company — a registered company (ACN/ABN lookup available via ASIC integration)
   • Trust — a trust structure (trust deed upload supported for AI-assisted party identification)
   • Partnership — a partnership arrangement
4. Complete the customer information form — fields vary by customer type and your industry
5. Link the customer to a designated service — the specific service that triggers your CDD obligation

Industry-specific customer creation

• Real Estate: When creating a property brokering transaction, Verifia prompts you to add both the buyer and the seller as customers, each requiring independent CDD
• Precious Metals: The system checks whether the transaction meets the $10,000 physical currency/virtual asset threshold that triggers your designated service obligations
• Legal Profession: You are asked to link the customer to a service category (conveyancing or trust/company services) if your practice provides both

Creating a KYC case

Once a customer is added, create a KYC case to begin the formal verification process:

1. Click Create KYC Case on the customer profile
2. Verifia automatically determines the CDD tier (Simplified, Standard, or Enhanced) based on the customer's initial risk assessment
3. A verification checklist is generated based on the CDD tier requirements

CDD tier verification requirements

Sending a KYC link

For customers who need to provide identity documents and undergo verification:

1. Click Send KYC Link on the KYC case
2. Verifia generates a secure, branded verification link
3. The customer receives the link via email
4. They self-serve: upload identity documents, complete biometric verification, and sign the privacy consent
5. Verification results flow back into Verifia automatically and are attached to the KYC case

The KYC link is time-limited and single-use. You can resend it if needed.

Reviewing verification results

Once verification data is received:

1. Review the eKYC verification results — identity match confidence from the Document Verification Service (DVS)
2. Check sanctions and PEP screening results — review any matches and determine whether they are true matches or false positives
3. For Enhanced CDD: review source of funds/wealth documentation — assess whether the explanations are plausible and adequately supported
4. Review the customer's risk rating — Verifia calculates this based on customer attributes, transaction context, and screening results
5. Make your decision:
   • Approve — CDD is satisfactory; the customer can receive the designated service
   • Request more information — ask the customer for additional documents or clarification
   • Escalate — flag for senior review, Compliance Officer assessment, or SMR consideration
   • Refuse — CDD cannot be satisfactorily completed; the designated service must not be provided (see CDD Tiers for guidance on refusing service)

All decisions are recorded in the audit trail with timestamps and the decision-maker's identity.

UBO analysis

For entity customers (companies, trusts, partnerships), you must identify the ultimate beneficial owners — the natural persons who ultimately own or control the entity:

1. Navigate to the UBO Analysis tab on the customer profile
2. For companies: enter the ACN and Verifia fetches current data from ASIC (directors, shareholders, registered address)
3. For trusts: upload the trust deed and the AI parser identifies key parties (settlor, trustee, beneficiaries, appointor)
4. Review the ownership graph showing all beneficial owners and their ownership/control percentages
5. Verify that all UBOs meeting the 25% ownership or control threshold are identified
6. Each identified UBO may require their own CDD — Verifia creates linked customer records as needed

For complex multi-layered structures, Verifia traces ownership through all entity layers and displays the full ownership chain visually.

Ongoing due diligence

Verifia automatically schedules CDD reviews based on the customer's risk tier:

• Low risk (Simplified CDD): Review every 3 years
• Medium risk (Standard CDD): Review every 2 years
• High risk (Enhanced CDD): Review every 12 months

When a review is due, it appears in your Smart To-Do list on the dashboard with the customer's name, risk tier, and the review due date.

Triggered reviews

In addition to scheduled reviews, Verifia triggers an immediate review when:

• A sanctions or PEP screening match is detected (e.g., through ongoing monitoring or batch rescreening)
• The customer's risk rating changes based on new information
• Suspicious transaction activity is flagged by monitoring rules
• Adverse media is identified in ongoing screening
• You manually flag the customer for reassessment

Delayed CDD (Real Estate only)

For auction scenarios where the buyer is only identified after the hammer falls:

1. Create the KYC case and select Delayed CDD
2. Provide a justification (e.g., "Auction sale — buyer identified post-hammer")
3. The system sets a deadline (default: 5 business days, configurable) for completing verification
4. The transaction can proceed while CDD is in progress
5. Overdue delayed CDD cases trigger escalating alerts — first to the assigned staff member, then to the Compliance Officer

Delayed CDD should only be used when genuinely necessitated by the circumstances. See the Real Estate industry guide for details.