It’s great that you’re alert to who’s contacting you and for what purpose. In this instance, we’re reaching out as we’ve noticed your personal and/or entity (business or organisation) information is either incomplete, incorrect, or out of dateand we need you to confirm or update them.
This process is called “Know Your Customer” or “KYC”. We work hard to fight financial crime, and you can help by ensuring we hold your current and correct information. Even if none of your details have changed, we’re still required to confirm this information with you on an ongoing basis.
“Know Your Customer” or KYC is what we do to identify who you are, and either confirm or verify those details to ensure they’re accurate.KYC isn’t just for new customers, it’s for all customers, regardless of tenure.By having the right customer information, we can help protect you and reduce the risk of fraud and financial crime. It’s an important part of the way we manage money laundering and other risks and helps us comply with relevant anti-money laundering and counter-terrorism financing laws.
This all depends on whether you’re an individual or a business. For example, the personal information we’ll ask for includes:
- Your full name, including any middle names and any other names you’re known by
- Date of birth
- Citizenship
- Residential address
- Occupation
This information helps us ensure that we “know our customers” and is a key part of the way in which ANZ fights financial crime and complies with our obligations.The better we know you, the more chance we have of stopping financial crime and protecting you and the things you’ve worked so hard for. If you’d like to speak with someone for more support, you can contact our Ongoing Customer Due Diligence team on 1800 434 181(Intl:+61 3 8569 4126)if you’re a personal customer or 1800 161 270 (Intl:+61 3 8569 4059) /1800 861 846 (Intl:+61 3 9955 3213) if you’re a business customer (refer to the communication we’ve sent for the best number to contact us).
Where documents are required to be collected, we do so to help prevent identity theft, money laundering, financial fraud and other forms of financial crimes. Document collection means that we can be satisfied that an individual and/or entity (business or organisation) exists and is who they claim to be. This is one of our lines of defence against financial crime, which has a significant impact on the Australian community.
If your details can’t be confirmed and/or verified, usage of your accounts could be restricted and you may not be able to apply for new products.This can include, for example, restrictions on withdrawals or purchases on a card.This is a step that we use only if we’ve not been able to contact you or get the information we need.
How could my accounts be restricted?
The following are some of the restrictions that could be applied to your account/s if you don’t provide updated details to ANZ:
- Credit or debit card transactions not being processed, resulting in your card being declined.
- Rejection of any credit transactions made in to deposit, transaction or savings accounts.
- Restrictions to your ability to withdraw funds from deposit, transaction or savings accounts, or access to any redraw funds available through your lending product
- Pension payments, Medicare or Centrelink related payments being rejected.
- If we still do not receive your updated details, even after restrictions are applied, then in due course, we may close the account(s) you have with us.
