When you are leasing or selling your property, Goodwins are required to undertake Customer Due Diligence.
Customer Due Diligence (CDD) centres around verifying the identity of individuals, trusts and companies representing a property for sale or lease. This ensures we comply with our obligations under the Anti-Money Laundering and Countering of Financing of Terrorism Act 2009, which stipulates that we must complete Customer Due Diligence before we can act on a vendor’s behalf. In some situations, we may also be required to verify the identity of purchasers.
The CDD process will begin as soon as we start discussions around selling your property. The process of identity verification can take days and sometimes weeks if a Trust or company is involved, and can also be complicated when parties reside overseas.
In order to keep this process as easy, professional and confidential for clients as possible, Anti-Money Laundering (AML) checks for Goodwins are being completed by TIC, a company working specifically within the AML sphere.
Please see more information about TIC here https://ticc.nz/about
What does this mean for Goodwins clients?
Vendors may receive a phone call or email from one of the friendly analysts at TIC requesting further information and/or documents that will assist them in completing the required checks. These mostly involve verifying the identity of the individuals who are beneficiaries of the property transaction.
If you have any concerns or questions please do not hesitate to contact your Goodwins sales consultant or the compliance officer at Goodwins.
If you would like more information regarding AML in New Zealand, please see https://www.keepourmoneyclean.govt.nz/ prepared by the New Zealand Ministry of Justice.