ID Verification - More Info

You can decide which IDV Method in each situation

Biometric ID verification

The 2Shakes Biometric IDV includes both the Biometric check AND the Electronic (Data Only) ID Verification detailed below.

Use Biometric ID verification when:

• You want the highest level of verification - meeting AML requirements.

• You can’t meet your client in person – In addition to the Smart ID check of the person’s details, biometric verification captures and assesses the ID document image against the person’s face in real time. We match hundreds of facial measurements to see if the person sitting in front of their phone, matches the photo identity document. 

• You need copies of ID and high privacy and security for the ID data you hold – Copies of the ID document and results are all stored securely in the 2Shakes platform, which meets the New Zealand Governments strict requirements for Privacy and Security. 
  
  Note : If you use the Biometric IDV option in 2Shakes you don’t need to do any other additional measures. The 2Shakes Biometric IDV option is very similar or the same as Example 2 in the DIA’s updated Explanatory Note, and satisfies the additional measures required.

Electronic (Data Only) ID verification

he 2Shakes Electronic IDV verifies the person’s ID Document at source, verified their Address, and carries out a Politically Exposed Person (PEP) and Sanctions check. This is included in the Biometric IDV above.

Use Electronic ID verification when:

• Someone has a digital presence that can be verified – Electronic ID verification matches the information provided against trusted external data sources. Ideally the person would have a NZ passport or NZ drivers license. For address verification they ideally they would hold a NZ bank account, or be the account holder listed for a household utility bill, or be listed as the owner of a house.

• You want to avoid Identity Fraud – Using an electronic ID verification service allows you to verify details without holding a copy of the credentials. This reduces the risk of personal details you hold being able to be inappropriately used for identity fraud.

• You want to save time & effort – Using an electronic solution makes the collection and verification quick and easy. Manually collecting proof of address, doing online searches of sanction lists, doing PEP checks, storing evidence can all be time consuming. All while delaying you getting to work for your client.

Use Manual ID verification when:

• To strengthen electronic identity verification – When you consider that additional identity measure are required you can collect additional CDD evidence manually for a person.  For example:

Additional Measures: if you feel that the risk is high, or if the CDD level is raised to enhanced CDD your AML programme may require that you undertake additional measures on top of electronic ID verification. 2Shakes enables you to record additional measures.

• Outstanding Verification – Electronic verification may not be able to fully verify the identity.  For example a persons passport might verify their name and date of birth, but because the person has recently moved the address may not match external records. To complete CDD in this example you may manually verify the address and then use 2Shakes to record this using Notes & Files.

• Where you already know your customer – If you have already gathered sufficient evidence to confirm the identity of the person you can upload notes and files to record this to 2Shakes and then manually confirm that IDV has been completed.

• To avoid additional costs – If you want to avoid ID verification charges then you can verify the identity of a person manually. You may like to refer to DIA’s Amended Identity Code of Practice which outlines a ‘safe harbor’ for how to do this.

How it works

Since Biometric includes the Electronic IDV too, both these forms of IDV include:

• Name, Address and Date of Birth verification

• New Zealand Driver License Verification from the New Zealand Transport Authority (NZTA)

• New Zealand Passport Verification from the Department of Internal Affairs (DIA)

• International Watchlist / Politically Exposed Person (PEP) status sourcing

Information is verified via a third party bureau database to verify name, address and date of birth data. This database holds trusted source data on over 3 million NZ consumers, which is updated monthly by banks, finance and retail energy providers. Changes to the Credit Reporting Privacy Code have enabled this data to be used for AML/CFT verification purposes.

This service is focused on trusted source information which ensures that matched data is only confirmed based on the data being confirmed by a trusted source. This limits the opportunity for fraudulent applications passing the verification threshold. You should of course take appropriate legal advice regarding your AML/CFT identity verification compliance processes as part of the AML/CFT programme.