True/ False
True or False, For Sole Trader, if the customer’s business turnover (annually) is below 75000 AUD, the business doesn’t need to have an ABN.
True
We are onboarding a Trust in Australia.
You noticed that business has only the ABN.
Please, explain why the business has only ABN and what is the type of Trustee.
The business only has an ABN because it is an individual trustee.
We are onboarding an Australian Private Limited Company and the UBO List entitlement is triggered. Our customer sent us the ASIC Company Extract where you can see that the shares are non-beneficially held.
Please explain what type of scenario this is and what will be your next step?
It is most likely that company is a trustee of a trust. If the trustee is an individual, we ask for the Trust Deed. If the trustee is a company, we ask for the UBO list for this company and the Trust Deed. Input the trust information in the comment section. Update the details of the beneficial owners / appointors/ unit holders in the shareholders section and request for UBO ID for all natural person listed in the shareholder section.
You are onboarding a Charity in Australia.
Please provide the links where we can search for their charities/NPO registration.
True or False, for the below scenario we can put the entity type as General Partnership.
Business name: A. N. Smith & L. M. Smith
Entity type on ABN document: Family Partnership
True.
What to do need to do when you see this traffic light in RED on the Verification page and Biz has a suspended transfer?
BUSINESS_CDD_FROM_ZERO_MEDIUM_RISK_AU
Send recovery link email template via Zendesk.
We are on a BRC Review for an Australian Private Limited Company with the details below:
Company category - REAL_ESTATE_DEVELOPMENT
3 Shareholders
Business verified 2 years ago
How will you know if you need to request a UBO List or not? Are you requesting one in this case?
Yes, we will have to request a new UBO list as this is a private limited company with more than 1 shareholders and they their company category is REAL_ESTATE_DEVELOPMENT.
Bonus: Additional 200 points
Name me the document customer should provide if Business_Shareholders_Check traffic light is in red?
UBO List.
True or False, we do not need to upload a business certificate on the verification page if existence check has passed during onboarding?
True
Bonus: Deduct 300 points from another team.
Explain what will be the next steps if we noticed that there's nominee involvement for a company in Australia that we are onboarding?
Escalate to offshore team.
During onboarding you notice the share structure in the Company Statement are as follows:
Company Share structure: Ordinary Shares 200
Members:
James Lee: Ordinary Shares 50
Mattheus Lee: Ordinary Shares 36
Alfonso Lee: Ordinary Shares 52
One Best Electrical Pty Ltd: Ordinary Shares 62
Determine the LESH/ Natural person shareholders we should add in the shareholder section.
James Lee, Alfonso Lee & One Best Electrical Pty Ltd
Name me the information we collect from the UBOs?
Choose all that apply.
- Date of birth
- Full Name
- ID
- Personal Address
- Country of Residence
- Date of birth
- Full Name
- ID
- Country of Residence
True or False, in the Trust Deed for a UNIT TRUST, you won't find information about settlor or appointor?
True.
Explain the steps needed when ABN status is cancelled?
- Create a request type under Existence check: Rejection reason doesn't exist (email the customer).
- Notify customer via Zendesk. Use the ABN Cancelled email template.
- Offboard the business profile. Follow Business Offboarding.
If the ABN is updated to Active, we can resume the verification.
Bonus: Deduct 400 points from another team
What FILE PURPOSE should you use when adding an UBO List to VER page?
A. Business Certificate/ Directors / UBOs
B. Business Certificate / Directors
C. Business Certificate
A. Business Certificate/ Directors / UBOs
Name me the UBO List documents we can accept in Australia.
ASIC Company Extract (paid registry extract), ASIC Company Statement, Company Profile document or Company Extract from ASIC-approved information brokers