Know Your Customer

Protecting our financial system

About the Know Your Customer process.

Why we're getting to know you better

Because we’re a bank, ING must identify our customers and verify that their details are current and correct, to comply with laws and regulations, including the Australian Anti-Money Laundering and Counter-Terrorism Financing Act. It's a process widely referred to as Know Your Customer or KYC for short. By ensuring your details are always up to date and accurate, together we can help protect our financial system from being misused for criminal activities.

What is KYC?

Know Your Customer

Fighting money laundering, terrorism financing and other financial crime.

What is KYC?

Know Your Customer or KYC is the process of identifying our customers and verifying customer details to comply with local and global laws and regulations, including anti-money laundering and counter-terrorism financing laws.

Because ING is a 'reporting entity' under the Australian Anti-Money Laundering and Counter-Terrorism Financing Act and part of the Global ING Group, we're required to apply processes so we can confirm the identity of our customers.

The laws that apply

Under ING's KYC policy, ING is required to comply with:

Australia's Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

Global anti-money laundering and counter-terrorism laws and regulations that the Global ING Group is required to comply with.

Laws relating to the US Foreign Account Tax Compliance Act (FATCA).

The Common Reporting Standard (CRS) under Australia’s Taxation Administration Act 1953.

What it involves

KYC means we need to collect and check our customers' information and keep it current. This includes fully identifying a customer before we provide them with services, and may involve asking our customers to provide information about themselves periodically during the course of their customer relationship.

For example, FATCA and CRS require financial institutions, including ING, to collect and check information about the foreign tax residency of relevant account holders. We may also be required to report information about financial accounts of foreign tax residents to the Australian Taxation Office.

Tax authorities in participating countries may exchange this information.

Our global policy

About our policy

Our commitment and ING KYC policy at a glance.

A global commitment

ING is committed to conducting business with the highest level of integrity worldwide.

We're also committed to operating in accordance with all applicable laws, regulations and standards.

Our policy

The ING KYC policy applies to all ING entities globally.

The policy stipulates our requirements for helping to safeguard against money laundering, the funding of terrorism and other criminal activities.

Under the policy, ING entities must implement appropriate procedures to comply with the ING KYC policy as well as relevant local laws and regulations.

Each entity must also document its customer identification procedures and properly identify all people, companies, associations and trusts who are customers.

Certifying Documents

Certifying your documents

How to ensure your documents are accepted the first time.

Important things about the documents we require

Documents used to verify your identity, such as your name, cannot be expired with the exception of an Australian Passport, which can be expired within the previous two years.


Utility bills used to provide address verification must be issued within the last three months.

ATO tax assessments must be issued within the previous 12 months.


Requirements for certified documents

For a certified document to be accepted, an acceptable document certifier must sight the original document and a copy of that document.

They must then include the following information on the copy:

'I hereby certify this document is a true copy of the original document shown to me on [date]'

signature

date

full name (printed)

address (work or residential)

phone number (work or residential)

qualification

registration number


The document certifier needs to certify every page of the document. If they only wish to write on the first page, they must clearly state they are certifying all pages of the document.


Finding an acceptable document certifier

For many people, the most convenient way to certify their documents is to take their original documents and copies to their nearest post office, pharmacy or police station. Please make sure all document copies are clear (preferably in colour) and clearly certified.

But over 40 occupations are recognised as acceptable document certifiers in Australia, so they’re easier to find than you might think.

To see a full list of acceptable document certifiers, click here.

FAQs