Morris and Watson Australia Pty Ltd: Bullion Identification Requirements

The buying and selling of gold, silver and platinum bullion products is strictly controlled by Australian Commonwealth law through the Commonwealth agency Australian Transaction Reports and Analysis Centre (AUSTRAC).

AUSTRAC determines the identification standards that Morris and Watson Australia Pty Ltd must adhere to, including the supporting documents we are are required to collect from customers. This is part of AUSTRAC's Anti-money Laundering and Counter Terrorism Funding (AML/CTF) measures.

The supporting identification documents you are required to provide depends on the type of entity you represent when buying or selling bullion products. Some common entities are:

Individuals
Sole Traders
Businesses
Partnerships
Trusts
Self-managed Superannuation Funds (SMSF)

The information below outlines the identification documents required to buy or sell bullion for common entity types. Our KYC form and supporting documents can be submitted by email, online, post or in person. You can also complete the KYC form and upload your documents when creating an online account.

Please note: for transactions under $5,000 AUD, we generally do not require the identifying documents listed below, but we still require basic details such as your name, address and contact details. However, we still may request identifying documents in compliance with our AML/CTF monitoring programme. Click here to see how to buy and sell bullion.

Individuals

Minimum information we need to collect: Full name, date of birth (DOB), and current Australian residential address.

Minimum information we need to verify: Either primary photo ID showing your full name and DOB, OR a primary non-photo ID AND a secondary document that together shows your full name, DOB, and residential Australian address.

Primary Photo Identification:

Australian or New Zealand Driver’s licence (current, front and back)
Australian or New Zealand Passport (current)
Australian Proof of age card (current)
Australian Firearms licence (current)

Primary Non-Photo Identification:

Australian Birth certificate
Australian Commonwealth citizenship certificate
Australian Medicare/Concession card (current)

Primary Secondary Identification:

Australian Commonwealth, State and Territory financial benefits notice (<12 months old)
ATO notice (<12 months old)
Australian local utilities provider notice (<3 months old)

LOW AND MEDIUM RISK INDIVIDUALS

For low to medium risk customers, the following documents are acceptable, based on if the document is being supplied as a; physical or certified copy OR if Morris and Watson are verifying documents electronically (e.g. you are emailing uncertified copies/scans) that will be verified using a third-party document verification service (DVS).

Physical/certified copies: primary photographic ID OR primary non-photographic ID AND secondary document
Electronic verification: primary photographic ID AND primary non-photographic ID or secondary document (only Australian and New Zealand Identification documents can be electronically verified by Morris and Watson).

Sole Traders

Please supply the following information:

Individual identification requirements
Evidence of business registration (e.g. ABN)

Companies

Original or certified copies of the below

Full business name and details (address, ABN/ACN);
Evidence of the directors and beneficial owners (if PTY LTD.)

All beneficaries and directors will need to be verified as per the requirements for an individual.

Trustees

Please provide evidence showing the below information of the following documents. Documents must be an original or certified copy.

Full name of the Trust
Full business name and details (if applicable)
Full name(s) of all beneficiaries

All Trustee’s will need to be verified as per the requirements for an individual.

Partnerships

Please provide evidence showing the below information of the following documents. Documents must be an original or certified copy.

Full name of Partnership
Full business name and detail (if applicable)
Full name(s) of all partners

All Partners will need to be verified as per the requirements for an individual.

SMFS

Self-Managed Super Funds

Please provide the relevant supporting identification documents based on how your SMSF is structured. SMSF are commonly structured as businesses or trusts. Please provide the following documents. Documents must be an original or certified copy.

Title page of the deed and the signed page showing all the directors, members or other beneficiaries
Business details if the SMSF is a corporation

Each director, member or other beneficiary will also need to provide individual supporting identification documents as listed in previous sections.

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