Search

AML information

The Anti Money Laundering and Counter Terrorism Financing (AML/CTF) legislation is designed to reduce the opportunity of money being generated through illegal activity from being converted into legitimate or clean funds. By combating money laundering the government also aims to reduce crime and prevent the use of funds to finance terrorist activity.

The IOOF group complies with its AML obligations and has an AML compliance program in place.

The identification form must be completed for all new clients

The identification forms capture information relevant to the client/customer type and no new accounts can be opened without the appropriate form being completed.

The identification forms are based on the client/customer type outlined in the table below. Please click on the forms to download.

(Note: IOOF is using the industry-standard forms created by the Financial Services Council (FSC) and the Financial Planning Association (FPA).

 

AML Identification Form To be completed by client / customer type
Individuals & Sole Traders Individuals and sole traders, when completed by advisers
Australian Companies Domestic companies
Australian Regulated Trusts & Trustees (incl. SMSF)
Trusts
Partnerships & Partners
Partnerships & Partners
Associations Incorporated and unincorporated associations
Registered co-operatives Registered co-operatives
Government Body Government bodies
Foreign Companies
Foreign companies
Verifying Officer
Non-individual customers (company, trust, etc.) to appoint a verifying officer
Unregulated Trusts & Trustees
Unregulated trusts and trustees

The identification forms are also available from this web site where you download our PDSs.

Frequently asked questions

When does the identification form need to be completed?

The identification form (including the appropriate verification information) is required to be completed for all new clients when applying for a product or service.

What happens if the identification form is not supplied?

Under AML/CTF legislation, from 12 December 2007 (inclusive), IOOF will not be able to open an account for an applicant if the identification form is not supplied.

What forms of identification are acceptable?

Different verification requirements apply to the different customer types. IOOF is using the industry standard list created by FSC and the FPA. The applicable verification requirements are outlined in the explanatory notes on each of the identification forms.

What do existing clients need to do?

If you held a product or service with IOOF as at 11 December 2007, you are defined as a 'pre-commencement client'. Such clients are not required to complete an identification form unless the product or service they are applying for is issued by a different IOOF entity. (Note; some of our products are offered by IOOF Investment Management Limited and others by IOOF Ltd).