How to Onboard a Company

Summary

This comprehensive guide explains how to complete Know Your Business (KYB) company onboarding using InfoTrack & triSearch. It covers starting a new order, configuring various compliance checks, and completing the risk assessment to meet AML obligations.

When to Use This

Use this workflow when you need to onboard a new organization, identify key parties, verify their identities, run AML checks, and finalize the compliance risk assessment for your business clients.

Step-by-Step Instructions

Option 1 - directly from the triSearch or InfoTrack platform

1. Navigate to AML Onboarding (incl. VOI) within the platform.
2. Click Start new order in the top right corner and select Organisation.
3. Enter the Matter reference field.
4. Enter the entity's ABN or ACN and its Legal Name.
5. Add the relevant parties involved, such as a Representative, Ultimate Beneficial Owner (UBO), Controller (e.g., Director), or CEO, by entering their details. Edit any profiles marked with missing or invalid details to add necessary contact information, and finalise the capacities of all representatives.
6. Click Continue to proceed to the Corporation Card where you can configure specific checks.
7. Select the necessary checks for your client, which may include the KYB onboarding form, PEPs/Sanctions and Adverse Media checks, ASIC Organisation Extract, UBO detection, Verification of Funds, and Verification of Identity (VOI). If the case requires a higher standard of verification, Enhanced Due Diligence may apply and, if so, you can select Source of Funds and Wealth Check.
8. If parties are unknown, conduct relevant ASIC or UBO searches to determine who needs to be added to the order as a party as part of your AML Due Diligence obligations.
9. Once all checks are selected, click Continue, review the mobile number to enable two-factor authentication. Click Add instructions (optional) to enter additional instructions for your client if required.
   Tip: This is the mobile number of the staff member (verifier) who will be reviewing the completed information.
10. Once the checks are sent, navigate to the AML Summary tab to review the completed results and statuses.
11. Locate the Risk Assessment section and click Complete to answer the scenario-based risk questions.
12. Under Final onboarding checks, click Complete to review the final attestations.
13. Check the boxes to confirm you are satisfied with the established grounds, click Save, and then click Onboard to finalise the company.

Option 2 - from your Practice Management Software

1. There are multiple entry points to creating an Onboarding order for a Company from your Practice Management Software, including but not limited to:

   1. the AML & VOI pill next to the contact’s or entities name in your matter; or

   2. from the AML Onboarding incl. VOI milestone from the embedded interface in your matter (Maestro/One Flow).

      

2. Key information will pre-populate from the completed Matter details. Ensure to complete as much detail at matter set up.

3. Edit any profiles marked with missing or invalid details to add necessary contact information, and finalise the capacities of all representatives.

4. To add additional parties, such as a Representative, Ultimate Beneficial Owner (UBO), Controller (e.g., Director), or CEO, click Add another party and enter their details.
   Tip: If parties are unknown, conduct relevant ASIC or UBO searches to determine which UBO, Controller, or Senior Staff need to be added to the order as another party, to send relevant AML Due Diligence requests.

5. Review checks being sent to Primary Representative, such as VOI, PEPs, Sanctions and Adverse Media.

   1. Should you wish to upload these checks manually, navigate to the three dots on the right hand to upload previously completed checks manually.

6. Select or deselect all relevant checks needed for the for AML/CTF Client Due Diligence, Enhanced Client Due Diligence (if necessary) and Additional services.

7. Once all checks are selected, click Continue.
   Tip: Ensure the Primary Representative’s Mobile number and Email address has been completed. If you missed this at setup, click on the three dots next to the Primary Representatives name to Edit party details.

8. Review the mobile number to enable two-factor authentication.
   Tip: This is the mobile number of the staff member (verifier) who will be reviewing the completed information.

9. Click Add instructions (optional) to enter additional instructions for your client if required.

10. If you need to add a new client to the onboarding order (either Individual, Company or Trust), click + Add new client to include multiple individuals or entities in the order.

11. Click Continue to proceed to order the checks and send the request to the client.

Common Questions

• What compliance checks are available during KYB onboarding? You can run a variety of checks including a KYB form, PEPs/Sanctions and Adverse Media screening, ASIC extracts, UBO identification, and Verification of Identity (VOI).

Troubleshooting Tips

• If the matter reference does not automatically populate when starting a new order, ensure that your practice management system is actively connected and synced with your InfoTrack account.