Trusts

Trusts – As a customer

If you sign up a trust as a customer you will need to capture additional information related to the trust. You should consider asking for a copy of the trust deed in order to help you do this.

AML requires that you determine who the beneficiaries of the trust are. You need to record different beneficiary information depending if a trust has:

  • less than 10 beneficiaries
  • 10 or more benficiaries
  • is a charitable trust
  • is a non discretionary trust

2Shakes has a trust tab to help you record this information. A Trust should elevate the Customer Due Diligence level to Enhanced.  Find out how we help you perform with enhanced customer due diligence here.

Trusts – As an Owner

When your customer is owned by a trust you will need to determine any of the people involved with the trust that you should identitfy.  2Shakes identifies possible trusts who are shareholders and presents you with the information listed on Companies Office against the allocation of shares.

Use this link to find out more information about AML in 2Shakes.