What does identifying an individual involve in practice?
Collect full name, date of birth, residential address, a unique identifier (passport, driver licence or foreign ID), and any other names, then verify against reliable independent sources.
Whenever you're required to identify a natural person, the baseline information to collect is the same regardless of why they're in scope (whether as a customer, a representative, a director, a beneficial owner, a trustee or a beneficiary):
- Full name
- Date of birth
- Residential address
- A unique identifier (passport number, driver licence number, or foreign national identity number)
- Other names the person is commonly known by (former names, anglicised names)
Verification then needs to use reliable and independent sources: government-issued ID documents (original or certified copy), the Document Verification Service (DVS), or an accredited digital identity provider. PEP and sanctions screening applies to every individual identified. See AUSTRAC's Initial CDD for individuals (Reform) page.