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Anti-Money Laundering

Anti-Money Laundering Act

Identifying our customers

Account Remediation

As a wagering operator based in New Zealand, we need to comply with New Zealand laws. This includes the Anti-Money Laundering (AML) and Countering Financing of Terrorism Act 2009. To comply with AML legislation, we are required to verify information for accounts held with TAB.  

Over the next couple of months, we will be sending emails or calling customers to ensure all relevant documents are collected so that accounts are verified to stay in the game. 

A call or email will explain what’s required, and the process is complete as soon as we receive your documents to [email protected].

Keeping you informed

We are required by law to verify our customers’ information and, in some cases, account activity even if you have been a TAB customer for a while.

This legislation is in place to protect New Zealand from financial crime and means several industries, including banks, real estate agencies and us, need to check your details from time to time. We could ask you to provide additional information and we may also ask how you intend to use a product or service, or for detail around changes in the way you are using your account, particularly if the changes are significant.

What we need from you

We need evidence of your identification (ID) and proof of address. For example, you may need to show us original or certified copies of identity documents such as your passport, birth certificate or driver’s licence, as well as proof of address documents such as a utility or insurance bill.
We also may need to update your contact details and, in some cases, we may need to check and verify your income and/or source of wealth.

Frequently asked questions

What is money laundering?
The objective of money laundering is to make money derived from criminal activity appear to be legitimate and more difficult to trace.

What is the financing of terrorism?
This is where the origin of legitimate funds is disguised to provide financial support to terrorists.

How does the Act affect me?
The Act requires us to collect additional information from you and anyone acting on your behalf. This is to verify your identity and address, other information regarding your relationship with us, how you intend to use our services and at times, other information relating to your financial position. 

I’m already a TAB customer, will I notice anything different?
The Act applies to both new and existing customers, so we may require extra information from you even if you have been with TAB for some time. We may also need to ask for additional information if you open a new account or if you change the way you bet with us over time.

When will I be required to supply the additional information?
You may need to provide us with additional information when opening a new TAB account, when sending, receiving or transferring funds, if there’s a change in your account activity, change to your personal details or change in the way you bet with us, as well as other circumstances.

Why do I need to prove my address?
Under the Act, all financial institutions are required to verify their customer’s physical address. 

Why do you require my country of residency and citizenship?
Under the Act, we are required to gather additional information about all our customers; this includes information regarding country of residency and citizenship.

Why do I need to provide information about my income or funds deposited to my accounts?
In some instances, the Act may require us to ask where funds have come from and for what reason they are to be used.

Why do you require the source of my income?
Under the Act, we are required to collect information to build a profile on our customers and how they use their TAB account.

What identification will I be required to provide?
Any ID form you choose to present must be current and valid. At least one form of your ID documents must contain your photo. In some instances, two forms of ID will be required. If you are unable to visit us to provide identification, we will require a ‘certified’ copy of your identification.

Find out more about address verification
Find out more about ID verification

How do I ‘certify’ my identification?
If you cannot complete your identification online and if you cannot come into a store, we will require a ‘certified’ copy of your identification instead. A ‘certified’ copy is a valid document which has been witnessed by a recognised ‘certified signatory’ in the last 3 months. This requires a written statement on the document itself confirming it is a true copy of the original and represents the identity of the named individual. Along with this statement, they’ll need to write their name, occupation, signature and the date of signing.

Who is recognised as a ‘certified signatory’?
Choose from any of the following certified signatories:

  • Justice of the Peace
  • Chartered Accountant
  • Notary Public
  • Lawyer/Solicitor
  • Commonwealth Representative
  • Member of Parliament

Your certified signatory may not be related to, or live with, you.

I’ve already successfully completed my account verification, why is there another step?
As a wagering operator based in New Zealand, we need to comply with New Zealand laws. This includes the Anti-Money Laundering (AML) and Countering Financing of Terrorism Act 2009. In order to comply with AML legislation, we are required to verify information for accounts held with TAB NZ. 

Why did I get emails regarding my TAB account from First AML?
TAB NZ engages First AML to conduct further account verification on our behalf. As part of the account verification process, First AML may need to ask you for further information about how and why you are joining TAB NZ, and for you to confirm your source of funds to meet our legal requirements.

If we cannot obtain this required information from you through First AML, it is unlikely we would be able to welcome you as a customer, due to our AML requirements under law. 

From their systems, to their staff, their frequent checks, and their process management First AML takes security seriously to ensure that your private information is protected. Access to information is restricted to authorised parties who have a legal basis for information access.  You can view First AML’s privacy statement here.

How do I complete the account verification?
If required, you will receive an email from First AML requesting further information and to help you complete this process. They’ll typically be looking for source of funds information to verify your account. 

Why do I have an account restriction?
If you notice your TAB account now has restricted access, please check your online account and/or your email inbox for a pending task (ID verification /account verification). Once any outstanding tasks have been completed, you should get full access to your TAB account. If you have any questions about your account returning to full services, please contact us on 0800 102 106.

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Why haven't I received an email asking for further information?
If you can’t see an email in the inbox of the email address associated with your TAB account, please ensure you’ve checked your spam/junk mailbox. If you still can’t find it, contact us on 0800 102 106 with your account details and we will be able to help you.