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As an existing NAB customer, why am I being asked to complete KYC again when joining as a beneficial owner?
As an existing NAB customer, why am I being asked to complete KYC again when joining as a beneficial owner?
We’re legally required under the Anti-Money Laundering and Counter Terrorist Financing Act (AML/CTF) to collect and retain updated customer Know Your Customer (KYC) identification documentation in order to meet our obligations under the act.
As part of the KYC requirements of the AML/CTF Act, when opening a new non-individual account we are required to update the KYC of any beneficial owners who are existing NAB customers and who established their relationship with NAB prior to 12 December 2007.
What do I need to do?
We may ask you to re-identify yourself by providing updated KYC identification. We will contact you if that is required.
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