How to Handle a Quick IDV Review or Fail Status for New Zealand Reporting Entities

Overview
When an IDV check in New Zealand fails or is flagged for review, Realaml provides flexible options to reset, resend, or manually validate the check. This ensures compliance with New Zealand's AML/CFT Act while maintaining efficiency. Only the failed component(s) (e.g., name, DOB, or address) will be reset and resent, while components that have already passed (e.g., FaceMatch or PEP checks) will remain valid. Additionally, you have the discretion to manually approve a Quick IDV check when reliable supporting evidence is provided.

Key Requirements for Verification in New Zealand

Name Verification:
Must be verified using two independent and reliable data sources, such as:
- NZTA (Driver Licence Verification)
- DIA (Passport Verification)
- NZ Companies Office
- LINZ (Property Information)
- NZ Credit Bureau (Equifax or Centrix)
Date of Birth Verification:
Must be verified using one independent and reliable data source, such as:
- NZTA
- DIA
- NZ Credit Bureau
- Centrix Comprehensive or Retail Energy Account
Address Verification:
There is flexibility in verifying addresses, but you must ensure the address provided is genuine and reflects the customer's current residence (in NZ or overseas). Options include:
- Electronic verification via LINZ, NZ Companies Office, or Centrix (Property Ownership).
- Manually uploaded address documents such as:
  - Utility bills
  - Bank statements
  - Government-issued correspondence

Legislative Compliance:

Under section 16(1)(a) of the AML/CFT Act, reasonable steps must be taken to ensure the address information is correct.
Documents or data must be sourced from a reliable and independent source as required by section 13(a) of the Act.

Steps to Handle a Quick IDV Review or Fail Status

1. Identify the Cause of the Failure

Review the specific reason for the failure in the Quick IDV report:

Name mismatch: Spelling errors, aliases, or recent changes.
DOB mismatch: Typos or outdated data.
Address mismatch: Missing details or formatting issues.

Confirm whether other components (e.g., FaceMatch or PEP checks) have passed.

2. Criteria for Manual Approval

You may manually approve a Quick IDV check if the following conditions are met:

Name Verification: The name matches at two data sources (e.g., DIA and Centrix Comprehensive Account).
DOB Verification: The DOB matches at one data source (e.g., NZTA or DIA).
Address Verification: An authentic address document is manually uploaded and verified, such as:
- Utility bills
- Bank statements
- Government-issued correspondence

Note: For trusts or entities without an address, obtain the address of the individual acting on their behalf.

3. Use the Reset and Resend Check Function

If manual approval is not possible, use the reset and resend function to allow the customer to update their details:

What happens when you reset and resend:
- Only failed components (e.g., name, DOB, or address) are reset.
- Passed components (e.g., FaceMatch or PEP checks) remain valid.
Steps to reset and resend:
1. Open the individual’s Quick IDV record in your dashboard.
2. Select Reset and Resend Check.
3. Confirm the action.

4. Monitor Resubmissions

After the individual resubmits their details:

Check the updated Quick IDV status in your dashboard.
Determine the result:
- Pass: No further action is required.
- Fail: Repeat the process or escalate for manual review.

Key Notes for New Zealand

Name verification requires two independent sources; DOB verification requires one.
Address verification is flexible but must meet reasonable steps under section 16(1)(a) of the AML/CFT Act.
Passed components are not reset during the resend process.
Clear communication with the customer minimizes repeat failures and ensures faster resolution.

By following these guidelines, you ensure compliance with New Zealand's AML/CFT Act while maintaining operational efficiency.