How to Handle a Quick IDV Review or Fail Status for Australian Legal Professionals | Realaml Help Center

How to Handle a Quick IDV Review or Fail Status for Australian Legal Professionals

Learn to manage Quick IDV reviews or fails for Australian legal professionals with steps to reset, resend, or manually approve checks.

Overview

When an IDV check in Australia fails or is flagged for review, Realaml provides flexible options to reset, resend, or manually validate the check. This ensures compliance with AUSTRAC's Safe Harbour rules while maintaining efficiency. Only the failed component(s) (e.g., name, DOB, or address) will be reset and resent, while components that have already passed (e.g., FaceMatch or PEP checks) will remain valid. Additionally, you have the discretion to manually approve a Quick IDV check when reliable supporting evidence is provided.

Key Requirements for Verification in Australia

Name Verification

Under AUSTRAC's Safe Harbour rules, a customer's name must be verified using two independent and reliable data sources. Reliable data sources include:

1. DVS (Driver Licence or Passport Verification):

   • Coverage: 80% (Driver Licence), 55% (Passport)

   • Verifiable Elements: Name, Date of Birth (DOB)

2. Electoral Roll:

   • Coverage: 57% (Current), 97% (Historical)

   • Verifiable Elements: Name, DOB, Address

3. Commercial Credit Bureaus:

   • Credit Bureau 1: Coverage: 15%

   • Credit Bureau 2: Coverage: 65%

   • Verifiable Elements: Name, DOB, Address

4. Public Credit Bureau:

   • Coverage: 15%

   • Verifiable Elements: Name, DOB, Address

5. Public Phone Directory:

   • Coverage: 32%

   • Verifiable Elements: Name, DOB, Address

6. Credit Agency Phone Directory:

   • Coverage: 35%

   • Verifiable Elements: Name, DOB, Address

7. National Tenancy Database (Equifax):

   • Coverage: 6%

   • Verifiable Elements: Name, DOB, Address

8. Consumer Database:

   • Coverage: 65%

   • Verifiable Elements: Name, DOB, Address

9. Proprietary Data Set:

   • Coverage: 72%

   • Verifiable Elements: Name, DOB, Address

10. 4x Independent Permission-Based Databases:

    • Coverage: 70%

    • Verifiable Elements: Name, DOB, Address

DVS (Driver Licence or Passport Verification):

Coverage: 80% (Driver Licence), 55% (Passport)

Verifiable Elements: Name, Date of Birth (DOB)

Electoral Roll:

Coverage: 57% (Current), 97% (Historical)

Verifiable Elements: Name, DOB, Address

Commercial Credit Bureaus:

Credit Bureau 1: Coverage: 15%

Credit Bureau 2: Coverage: 65%

Verifiable Elements: Name, DOB, Address

Public Credit Bureau:

Coverage: 15%

Verifiable Elements: Name, DOB, Address

Public Phone Directory:

Coverage: 32%

Verifiable Elements: Name, DOB, Address

Credit Agency Phone Directory:

Coverage: 35%

Verifiable Elements: Name, DOB, Address

National Tenancy Database (Equifax):

Coverage: 6%

Verifiable Elements: Name, DOB, Address

Consumer Database:

Coverage: 65%

Verifiable Elements: Name, DOB, Address

Proprietary Data Set:

Coverage: 72%

Verifiable Elements: Name, DOB, Address

4x Independent Permission-Based Databases:

Coverage: 70%

Verifiable Elements: Name, DOB, Address

Date of Birth (DOB) and/or Address Verification

In addition to verifying the name, you must verify either DOB, address, or both using two independent and reliable data sources. Reliable sources for DOB and address include all the sources listed above.

Address Verification Flexibility

• Addresses can be verified electronically or through manually uploaded documents (e.g., utility bills, bank statements, government-issued correspondence).

• The address must reflect the customer's current residence (whether in Australia or overseas).

• For trusts or entities without an address, obtain the address of the person acting on their behalf.

Addresses can be verified electronically or through manually uploaded documents (e.g., utility bills, bank statements, government-issued correspondence).

The address must reflect the customer's current residence (whether in Australia or overseas).

For trusts or entities without an address, obtain the address of the person acting on their behalf.

Steps to Handle a Quick IDV Review or Fail Status

1. Identify the Cause of the Failure

Review the specific reason for the failure in the Quick IDV report:

• Name mismatch: Spelling errors, aliases, or recent changes.

• DOB mismatch: Typos or outdated data.

• Address mismatch: Missing details or formatting issues.

Name mismatch: Spelling errors, aliases, or recent changes.

DOB mismatch: Typos or outdated data.

Address mismatch: Missing details or formatting issues.

Confirm whether other components (e.g., FaceMatch or PEP checks) have passed.

2. Criteria for Manual Approval

You may manually approve a Quick IDV check if the following conditions are met:

• Name Verification: The name matches at two independent and reliable data sources (e.g., Electoral Roll and DVS).

• DOB Verification: The DOB matches at two independent and reliable data sources (e.g., DVS and Consumer Database).

• Address Verification: An authentic address document is manually uploaded and verified, such as:

  • Utility bills

  • Bank statements

  • Government-issued correspondence

Name Verification: The name matches at two independent and reliable data sources (e.g., Electoral Roll and DVS).

DOB Verification: The DOB matches at two independent and reliable data sources (e.g., DVS and Consumer Database).

Address Verification: An authentic address document is manually uploaded and verified, such as:

Utility bills

Bank statements

Government-issued correspondence

3. Use the Reset and Resend Check Function

If manual approval is not possible, use the reset and resend function to allow the customer to update their details:

• What happens when you reset and resend:

  • Only failed components (e.g., name, DOB, or address) are reset.

  • Passed components (e.g., FaceMatch or PEP checks) remain valid.

• Steps to reset and resend:

  1. Open the individual’s Quick IDV record in your dashboard.

  2. Select Reset and Resend Check.

  3. Confirm the action.

What happens when you reset and resend:

Only failed components (e.g., name, DOB, or address) are reset.

Passed components (e.g., FaceMatch or PEP checks) remain valid.

Steps to reset and resend:

Open the individual’s Quick IDV record in your dashboard.

Select Reset and Resend Check.

Confirm the action.

4. Monitor Resubmissions

After the individual resubmits their details:

• Check the updated Quick IDV status in your dashboard.

• Determine the result:

  • Pass: No further action is required.

  • Fail: Repeat the process or escalate for manual review.

Check the updated Quick IDV status in your dashboard.

Determine the result:

Pass: No further action is required.

Fail: Repeat the process or escalate for manual review.

Key Notes for Australia

1. Name Verification: Two independent and reliable sources are required.

2. DOB and/or Address Verification: At least two independent and reliable sources are required.

3. Address Verification Flexibility: Electronic or hardcopy documents can be used.

4. Reset and Resend Function: Only failed components are reset; passed components remain valid.

5. Clear Communication: Reduces repeat failures and ensures faster resolution.

Name Verification: Two independent and reliable sources are required.

DOB and/or Address Verification: At least two independent and reliable sources are required.

Address Verification Flexibility: Electronic or hardcopy documents can be used.

Reset and Resend Function: Only failed components are reset; passed components remain valid.

Clear Communication: Reduces repeat failures and ensures faster resolution.

By following these guidelines, you ensure compliance with AUSTRAC's Safe Harbour rules while maintaining an efficient verification process.