The Australian government via AUSTRAC has increased its requirements on organisations like CCFS to identify our borrowers and accountholders. This includes all account signatories as well as the officeholders of any organisation that has accounts with CCFS.
The Identification rules are designed to help detect and report suspicious activity such as money laundering and terrorist financing.
Historically, CCFS has met this requirement through a paper-based system that incorporated a certified copy of an identification document such as a driver’s licence or passport. This has proven to be time consuming and inconvenient.
Whilst this is still an option, CCFS has introduced Digital ID, provided by Australia Post. Identification can be completed in 2-3 minutes from the convenience of your own computer.
Account holders will need to be regularly identified, usually every 2-3 years and can go to the CCFS website, click on the link at the top of the home page and follow the links. The CCFS digital ID initiative ensures the confidentiality and security of your personal information.
Any questions should be directed to the CCFS customer support team.
