4Verification generally

4 Verification generally

(1) The checks that may be made in relation to any signatory or party to a bullion transaction are as follows: (a) the identifying cash dealer verifies the name and address of the signatory or party to a bullion transaction from one or more of the following sources (each verification being worth 35 points): (i) the employer of the signatory or party to a bullion transaction, or a person who was an employer of the signatory or party to a bullion transaction within the last 2 years, from records held by the employer or previous employer; or (ii) a rating authority, from its records relating to land ownership or occupation; or (iii) a document held by the cash dealer conferring an interest by way of security over property of the signatory or party to a bullion transaction; or (iv) a financial body, other than the cash dealer, from its records relating to a mortgage or other instrument of security granted by the signatory or party to a bullion transaction to that body; or (v) subject to the Privacy Act 1988—the Credit Reference Association of Australia from its records; or (vi) records held under a law relating to land titles; and (b) the identifying cash dealer verifies the name and address of the signatory or party to a bullion transaction from one or more of the following sources (each verification being worth 25 points): (i) the electoral roll compiled by the Australian Electoral Office and available for public scrutiny; or (ii) a nominee of the signatory or party to a bullion transaction who is an acceptable referee or who would, if he or she had known the signatory or party to a bullion transaction for at least 12 months, be an acceptable referee; or (iii) if the signatory or party to a bullion transaction lives or carries on business in rented accommodation—the owner or landlord of the premises or a real estate agent acting as managing agent of the premises; or (iv) a public utility, from its records; or (v) if the signatory or party to a bullion transaction is a known customer of another financial body—that body, from its records; or (vi) a record held under a law other than a law relating to land titles; and (c) the identifying cash dealer verifies the name and date of birth of the signatory or party to a bullion transaction from one or both of the following sources (each verification being worth 25 points): (i) if the signatory or party to a bullion transaction has attended a primary, secondary or tertiary education institution within the last 10 years—that institution, from its records; or (ii) if the signatory or party to a bullion transaction is a member of a professional or trade association—that association, from its records; and (d) the identifying cash dealer verifies the name, address and telephone number of the signatory or party to a bullion transaction: (i) by reference to the latest telephone directory published by Telstra or by advice provided by Telstra; and (ii) by telephone contact with the signatory or party to a bullion transaction on that telephone number; (verification by this means is worth 25 points); and (e) the identifying cash dealer verifies the name of the signatory or party to a bullion transaction from a primary identification document relating to the signatory or party to a bullion transaction produced to the identifying cash dealer (verification by this means is worth 70 points); and (f) the identifying cash dealer verifies the name of the signatory or party to a bullion transaction from a secondary identification document relating to the signatory or party to a bullion transaction produced to the identifying cash dealer and the document: (i) contains a photograph or the signature of the signatory or party to a bullion transaction; and (ii) is: (A) an identification card issued to a public employee; or (B) a licence or permit issued under a law; or (C) an identification card issued to a person by the Commonwealth, a State or Territory as evidence of the person’s entitlement to a financial benefit; or (D) an identification card issued to a student at a tertiary education institution; (verification by this means is worth 40 points); and (g) the identifying cash dealer verifies the name of the signatory or party to a bullion transaction from any other secondary identification document relating to the signatory or party to a bullion transaction produced to the identifying cash dealer (verification by this means is worth 25 points); and (h) the identifying cash dealer, being a financial body, verifies that the signatory or party to a bullion transaction is a known customer (verification by this means is worth 40 points); and (i) if the identifying cash dealer is a financial body—it verifies that the signatory or party to the bullion transaction has been a signatory of an account with the body for at least 36 months immediately before the verification (verification by this means is worth 100 points); and (j) the identifying cash dealer verifies the name of the signatory or party to a bullion transaction from a reference produced to the identifying cash dealer being: (i) a written reference from a financial body relating to the signatory or party to a bullion transaction: (A) certifying that the signatory or party to a bullion transaction is a known customer; and (B) bearing the signatures of the signatory or party to a bullion transaction and an employee or agent of the financial body; or (ii) a written reference from an acceptable referee: (A) certifying that the referee has known the signatory or party to a bullion transaction by that name for at least 12 months; and (B) bearing the signatures of the signatory or party to a bullion transaction and the acceptable referee; or (iii) a written reference from a verified signatory: (A) certifying that the verified signatory has known the signatory for at least 12 months; and (B) bearing the signatures of the signatory and the verified signatory; (verification by this means is worth 40 points). (2) The cash dealer must retain or copy each of the documents produced for the purposes of paragraph (1)(e), (f), (g) or (j) or record for each of those documents the particulars mentioned in regulation 10.