Anti-Money Laundering Requirements

Why we need to identify our Farmers and Farm Source Retail Account Holders

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the Act) requires certain New Zealand businesses to detect and deter money laundering and terrorism financing. 

For us, this includes carrying out customer due diligence, or CDD – to verify our ‘customers’ (which in Fonterra’s case includes our farmer shareholders and Farm Source account holders).

If our 'customer' is an entity rather than an individual, we also need to verify the individuals who own, control and act on behalf of that entity. 

Why we need your ID, proof of address and other relevant entity documents.

New Zealand is part of a world-wide commitment to ensure criminals can’t use organisations to finance crime.  There are substantial penalties for not complying with the legislation so it’s essential we hold the right information on file.

When do we need to ask for this information?

We need to gather the relevant information from you when:

  • You apply to become a supplier to Fonterra
  • When you open a Farm Source Store retail account
  • When you apply for a Farm Source Rewards Card

We also need to update this information when:

  • You change your name or account details
  • There is a change to your entity (this might be a change of entity type or a change in directors, shareholders, trustee’s, partners or authorised representatives)
  • A new authorised representative is added to an existing Farm Source account.
  • You cease supplying milk to us, but want to keep your Farm Source Store retail account.

We may also need to update our copy of your documents from time to time, for example if your ID has expired, and we may need to ask you for information if there are any law changes that require us to do so.

You also have an obligation to contact us in the event of these scenarios so that we can ensure we have up to date documentation on file for you.

If you know of any changes that fall into the above scenarios, you can discuss this with your Co-operative Services Area Manager or let us know by completing the relevant section of this form.

What information do we need from you?

We need to confirm the identity and address of all of our farmer shareholders, suppliers and Farm Source Stores retail account holders, and certain individuals associated with their accounts. The information we ask for will vary based on whether you are individual or an entity and, if an entity, the ownership and control structure for your entity.

Specific CDD Requirements

The type of information we need to gather varies depending on the entity type.  You can find out more about what’s required by selecting from the options below.

We need to collect and verify:

  • your name and date of birth
  • your residential address
  • your authorised representative(s) (if any)
  • the nature and purpose of the business relationship with Fonterra (for example, Dairy farming; the purchase of retail products and/or services from Farm Source and/or Farm Source partners and suppliers; and/or to access to Farm Source rewards, benefits and/or discounts)

See Identification Verification Guidelines section for more details.

We need to collect and verify information about the partnership and people associated with it, including:

  • the full name of the partnership and its address  

  • the partnership’s ownership and control structure –  for example: 

- whether there are any restrictions around the way the partnership can operate, or the way decisions are made.   

- a copy of the partnership agreement (if it has one) 

  • all partners in the partnership  

  • any other individuals who have control of the partnership 

  • individuals with more than a 25% interest in the partnership 

  • any individual who is authorised to act on behalf of the partnership (and proof of their authorisation) 

  • information about the nature and purpose of its business relationship with Fonterra for example, dairy farming; the purchase of retail products and/or services from Farm Source and/or Farm Source partners and suppliers; and/or to access to Farm Source rewards, benefits and/or discounts 

We need to collect and verify information about the limited partnership and people associated with it, including:

  • the full name, address and registration number of the limited partnership (as they appear in the Limited Partnerships Register)

  • the limited partnership’s ownership and control structure, for example:

- whether there are any restrictions around the way the limited partnership can operate, or the way decisions are made.   

- a copy of the Limited Partnership Agreement

  • all partners in the limited partnership (including any nominee general partners)

  • any other individuals who have control of the limited partnership

  • individuals with more than a 25% interest in the partnership 

  • any individual who is authorised to act on behalf of the limited partnership (and proof of their authorisation)

  • information about the nature and purpose of its business relationship with Fonterra for example, Dairy farming; the purchase of retail products and/or services from Farm Source and/or Farm Source partners and suppliers; and/or to access to Farm Source rewards, benefits and/or discounts

We need to collect and verify information about the company and people associated with it, including: 

  • Full legal name, registration number and registered address of your company (as they appear in the Companies Register) 

  • Registration number of the company 

  • the company’s ownership and control structure, for example: 

- whether there are any restrictions around the way the company can operate, or the way decisions are made;  

- a copy of your company’s constitution  

  • all directors of the company  

  • any other individuals who have control of the company 

  • shareholders with over 25% of the shares in the company 

  • any individual who is authorised to act on behalf of the company (and proof of their authorisation) 

  • any nominee directors or shareholders  

  • information about the nature and purpose of its business relationship with Fonterra for example, dairy farming; the purchase of retail products and/or services from Farm Source and/or Farm Source partners and suppliers; and/or to access to Farm Source rewards, benefits and/or discounts 

  • information about the company’s source of funds [and/or source of wealth] 

We need to collect and verify information about the trust and people associated with it.

  • Full legal name of the trust (as it appears in the trust deed) 

  • The trust’s registered office or principal place of business

  • the trustee’s ownership and control structure, for example: 

- whether there are any restrictions around the way the trust can operate, or the way decisions are made; 

- a copy of the trust deed and any subsequent deeds of retirement and/or appointment showing current trustees  

  • all trustees of the trust

  • any other individuals who have control of the trust’s affairs (for example those who have the power to amend the trust deed) 

  • all beneficiaries of the trust entitled to more than 25% of the trust assets

  • the settlor(s) and any protectors of the trust 

  • any individual who is authorised to act on behalf of the trust (and proof of their authorisation).

  • information about the nature and purpose of its business relationship with Fonterra for example, Dairy farming; the purchase of retail products and/or services from Farm Source and/or Farm Source partners and suppliers; and/or to access to Farm Source rewards, benefits and/or discounts 

  • information about the trust’s source of funds and/or source of wealth

Verification Guidelines and Options

Physical documents provided as evidence of name and date of birth must be verified, and a certified true copy must be provided for Fonterra’s records.

Verification can be done by your local Co-operative Services Area Manager or someone from our local Farm Source Stores. 

1. Proof of name and date of birth (must be verified)
To prove name and date of birth, the following documentary evidence must be provided

Option 1 Option 2 Option 3

ONE of the following:

  • passport
  • New Zealand firearms license

ONE of the following:

  • birth certificate
  • certificate of citizenship

AND ONE of the following:

  • New Zealand driver licence
  • Valid and current international driving permit
  • 18+ card
  • NZ Defence Photo ID
  • NZ Police Photo ID

New Zealand driver licence AND ONE of the following:

  • credit, debit or EFTPOS card that bears the person's name and signature
  • bank statement issues to the person within the last 3 months
  • New Zealand Super Gold card

 

The document being certified, and the signature of the certifier must not be dated more than 3 months before the date the application form is signed. There are further types of documentary evidence that can be provided as proof of identity, but we have listed those types that will be most applicable for customers and suppliers.

Certified documents must be signed and include the name of the certifier, their occupation and the date. The certifier must be at least 16 years of age and cannot be related to the person, the spouse or partner of the person or living at the same address as the person. Certifiers may be one of the following:

  • Co-operative Services Area Manager

  • Farm Source Store Managers 

  • Justice of the Peace

  • Lawyer

  • Chartered Accountant

  • Notary Public 

  • Registered Teacher

  • Registered Medical Doctor

  • Minister of Religion

  • Kaumatua 

  • Member of Parliament

There are additional persons that can certify documents, but we have listed only those that would be most relevant.

The document being certified and the signature of the certifier must not be dated more than 3 months before the date the application form is signed.

2. Proof of residential address (does not need to be verified)

To prove residential address, ONE of the following forms of documentary evidence (that is addressed to your name with your residential address on it):

  • bank statement dated within the last 3 months.
  • any New Zealand Government department statement dated within the last 3 months.
  • a New Zealand utility company statement (e.g. gas, power, phone) dated within the last 3 months.

Where electronic verification has been requested, Fonterra will provide a link to verify your details electronically via a company called Green ID.  Green ID enables you to submit your ID and proof of address quickly online.  If using electronic verification there are some tips to support you with this.

  1. Proof of name and date of birth

To prove name and date of birth, the following documentary evidence must be provided:

ONE of passport or New Zealand driver's license

  1. Proof of residential address (does not need to be verified)

Additionally, you may also be required to provide proof of residential address through Green ID.  Where this is the case, you will need ONE of the following forms of documentary evidence (that is addressed to your name with your residential address on it):

  • bank statement dated within the last 12 months.
  • any New Zealand Government department statement dated within the last 12 months.
  • a New Zealand utility company statement (e.g. gas, power, phone) dated within the last 12 months.

Additional Guidance for using Electronic Verification

  • To complete the electronic ID verification process, we recommend using your mobile phone, as it is easier to use than a laptop or desktop computer. 

  • Please note that your details must be submitted via the link provided by Fonterra / Farm Source – we cannot accept unverified photos of ID via email.

  • When you take your selfie, ensure your photo is similar to your ID photo, e.g. if you wore prescription glasses in your ID photo, please take your selfie with your glasses too.

  • Try to take your photo in good light so there are no shadows on your face in the photo. This makes it easier for the system to verify your image. 

  • To confirm your individual name and residential address, use an invoice, statement or letter that’s addressed to the individual being verified and is no older than 12 months. Please do not upload your Farm Source Statements.

Some examples of statements or letters you can use are:

  • a registered bank;
  • utility providers (water, electricity, gas, phone, mobile, broadband); 
  • professional service providers (lawyer, accountant, doctor);
  • major service providers (Sky TV, internet provider, insurance);
  • central government correspondence e.g. IRD, WINZ, Housing NZ;
  • local government correspondence e.g. rates invoice; 
  • communications from a current employer e.g. payslip;
  • a tenancy agreement;
  • NZ Companies Office

 

Frequently Asked Questions

We have processes in place to obtain CDD information at the beginning of our relationship with our farmers and Farm Source Stores retail accounts, for example, when our farmers first join the Co-op, or when a Farm Source Stores retail account is opened.  We are also required to ensure that our records remain correct and up to date, so we may reach out to you as part of our ongoing CDD processes to ensure that we have the information we are required to hold under the Act.

We’ve partnered with AMLHUB to help us obtain and verify CDD information from our farmers.  AMLHUB is a reputable AML outsourcing specialist that  supports a number of other Kiwi businesses in this area. If you receive a request from AMLHUB (email domain @amlhub.co.nz) please work with them to provide the information requested.

Get in touch if this is the case so we can work through options for you.

Money laundering is all about hiding the profits of crime to make them seem legitimate. Anti-money laundering (AML) is a term to describe the steps that ‘financial institutions’ take to detect and stop money laundering (and terrorism financing). It helps protect all of us from financial crime. 

One of its requirements is for us to carefully verify every customer’s identity, using photo ID and proof of address. 

We need this when you open an account. Sometimes, we need to update your details for other reasons:

  • You change your name or personal or account details 

  • There is a change to your entity (this might be a change of entity type or a change in directors, shareholders, trustees, partners or authorised representatives)

  • A new authorised representative is added to an existing Farm Source account.

  • You cease supplying milk to us, but want to keep your Farm Source Store retail account

Have more questions?

 Speak to your local Farm Source representative, or give us a call on 0800 65 65 68 and we'll be happy to help.