What is Reliance?
Reliance can allow an eligible reporting entity to rely on certain customer identification and verification procedures carried out by another reporting entity, where the appropriate requirements and arrangements are in place.
Harvey Law Firm can undertake relevant checks and provide the resulting information through the Securexchange / InfoTrack process.
Reliance does not automatically transfer or remove the real estate agent's own AML/CTF responsibilities.
How Harvey Law Firm Can Help
Verify identity
Relevant identity verification checks can be undertaken for the client.
Complete AML/CTF checks
Relevant checks can be completed as part of the Reliance process.
Provide the information
The resulting information can be provided through the Securexchange / InfoTrack process.
Work with your agency
A practical process designed to work alongside your agency's existing AML/CTF procedures.
From Request to Report
1
Request
The agent initiates a Reliance request through Securexchange.
2
Checks
Harvey Law Firm completes the required client identification and relevant AML/CTF checks.
3
Report
The relevant information is returned through the Securexchange process.
4
Consider
The agent considers and uses the information in accordance with its own AML/CTF obligations and arrangements.
What May Be Included
Verification of Identity (VOI)
PEP checks
Adverse media checks
KYC questionnaire
Risk assessment
Source of funds
Important
Reliance does not remove a real estate agent's AML/CTF obligations. Agents should ensure they have the appropriate arrangements and processes in place and obtain their own professional advice where required.