Skip to main content
search
Category

BGLiD

BGL empowers accountants to meet new AML/CTF obligations with BGLiD

By BGLiD, IndustryNo Comments

BGL empowers accountants to meet new AML/CTF obligations with BGLiD

BGL is proud to introduce BGLiD – a seamless client identity verification solution designed to help accountants comply with upcoming AML/CTF legislative reforms.

In December 2024, Australia approved the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024, extending AML/CTF regulations to include accountants. Under these new proposed rules, accountants must:

  • Appoint a compliance officer: An individual responsible for developing and implementing policies to meet AML/CTF requirements.
  • Provide comprehensive customer verification: Client identities must be verified based on services provided, client nature and transaction locations.
  • Report any suspicious transactions or behaviour indicative of illegal activities to the authorities.

These new requirements begin in March 2026. BGL’s CAS 360 corporate compliance solution, trusted by over 3,800 firms and managing over 1 million companies worldwide, helps clients comply with these new AML/CTF regulations with BGLiD.

“This new legislation will add new work for accountants and we want to help them get ahead of the changes,” said Warren Renden, General Manager of CAS 360, BGLiD and UK at BGL. “At BGL, we have developed our products, ensuring our clients have the right tools, such as BGLiD, to navigate through compliance seamlessly”.

BGLiD is a simple client identity verification solution seamlessly integrated with BGL’s CAS 360. It provides direct verification with government databases in Australia and also offers biometric verification, which enables clients to upload a photo ID and take a selfie via their smartphone to verify their identity.

Later this year, BGLiD’s capabilities will extend to Simple Fund 360 and Simple Invest 360, further enhancing client identity verification across BGL’s suite of products.

For more information, visit www.bglcorp.com/client-identity-verification-service. 

February 25, 2025
Love0

Simple Fund 360 and Simple Invest 360 Product Update – 23 January 2025

By BGL Update, BGLiD, Simple Fund 360, Simple Invest 360No Comments

What's New?

BGLiD Identity Verification
Simple Fund 360 and Simple Invest 360 clients who sync their contacts with CAS 360 will now see the BGLiD verification status displayed in the Contact screen. Click here for instructions on how to synchronise your contact database.

Consolidated Reporting
The Consolidated Reporting screen can now combine investment, tax and financial data across multiple entities into one Consolidated Investment Report with a customisable layout. Learn More

Entity Dashboard
An entity’s ABN is now automatically validated using the ABR Lookup to ensure the ABN is active and that the GST status matches the entity’s details. Learn More

Corporate Actions
2 new mergers have been added to Corporate Actions:

  • CAJ: 22 December 2024
  • AME: 9 December 2024

Plus, many more new features and improvements.

Stay tuned for future releases!

Jeevan Tokhi
General Manager of Product – Simple Fund 360, Simple Invest 360 and BGL SmartDocs 360
E: JTokhi@bglcorp.com.au | P: 1300 654 401
Connect with me on LinkedIn

January 24, 2025
Love0

CAS 360 Product Update – 1 February 2024

By BGL Update, BGLiD, CAS 360No Comments

What's New?

BGLiD
The verified ID name and date of birth have been added to the ID Verification Report. Learn More

Hint: BGLiD is a simple client identity verification solution seamlessly integrated with CAS 360. Click here to learn more!

User Roles
The user role “Import data from Governing Body” is now available in user permissions. This enables administrators to limit the import of RA72 company data from ASIC. Learn More

Company Subclass
When a Company Type is Public and Company Class is Limited by Shares, the dropdown of Company Subclass in the General Details tab will now provide the following options:

  • Listed
  • Unlisted
  • Unlisted Superannuation Trustee Company
  • Unlisted Non-Profit Company 
  • Section 150 license
  • Section 383 License (note: this option should only appear if the Incorporation Date is on or before 30/06/1998)
  • Section 383 License Superannuation Trustee Company (note: this option should only appear if the Incorporation Date is on or before 30/06/1998)

The dropdown of Company Subclass in the Comparison Report screen has also been updated to display the same set of options as mentioned above. Learn More

Plus, many more new features and improvements.

Stay tuned for future releases!

Warren Renden
General Manager – CAS 360, Ecosystem and Brand
E: Wrenden@bglcorp.com.au | P: 1300 654 401
Connect with me on LinkedIn

February 2, 2024
Love0

CAS 360 Product Update – 18 January 2024

By BGL Update, BGLiD, CAS 360No Comments

What's New?

BGLiD Request Multiple ID Sources
BGLiD now provides the ability to have two different forms of ID for verification. This option adds a third ID method (Medicare card) in addition to driver’s licence and passport. Please note the Medicare card is only available when two verification sources are required. Learn More

BGLiD Automatic Re-Try
In the event of a failed ID verification attempt by a client, BGLiD will automatically email the contact notifying them of the unsuccessful verification and request they retry (at no additional cost). Learn More

BGLiD Email Reminders
Automated email reminders can be sent up to 7 days after initiating an ID request. This feature is optional and can be selected when sending a BGLiD request. Learn More

BGLiD Email Confirmations
After successful ID verification, automated email confirmations can be sent to the contact and the requester. This feature is optional and can be selected when sending a BGLiD request. Learn More

BGLiD Preferred ID Source
A new dropdown list has been added to the Verify Identity screen providing the ability to select the preferred ID source if multiple ID types are linked to a contact. Learn More

Annual Return Validations
When a company is missing an ACN in CAS 360, the annual reports document production screen will now display a validation error message and prevent all download and send actions. Learn More

Member Register
The Register of Members has been added to Document Production for all shareholder transaction changes for other jurisdictions. Learn More

Report Improvements
The Company Listing, Compliance Status Listing and Director ID reports now display all partners and managers in the report when the company has multiple partners/managers. Learn More

Plus, many more new features and improvements.

Stay tuned for future releases!

Warren Renden
Head of CAS 360
E: Wrenden@bglcorp.com.au | P: 1300 654 401
Connect with me on LinkedIn

January 19, 2024
Love0

BGLiD is now available to CAS 360 clients!

By BGL Update, BGLiD, CAS 360No Comments

Simplify your client identity verification processes with CAS 360 and BGLiD!

Are you able to easily verify client identity without the old copy and paste?

Introducing BGLiD, our latest solution that will simplify your identity compliance requirements!

What is BGLiD?

BGLiD is a client identity verification solution fully integrated with CAS 360, our market-leading company, trust and AML management solution.

✅ No setup or training required for CAS 360 clients.
✅ Straightforward pricing with no minimum commitments*
✅ Use your existing CAS 360 contact data OR;
✅ Request information from your client with just a few mouse clicks.
✅ Receive client identity verification results in seconds.
✅ Key verification sources include Government ID, Anti-Money Laundering, Global Sanctions and Adverse News databases.
✅ Powered by FrankieOne.
✅ CAS 360 is trusted by over 3,300 firms with almost 900,000 companies worldwide!

BGL will integrate BGLiD with its Simple Fund 360 and Simple Invest 360 software solutions in the not too distant future.

* Access to BGLiD is available through BGL’s CAS 360 software. A fee is charged for each client identity verification (debited monthly). There are no monthly minimums or fixed service fees. Click here for BGLiD fees. Click here for CAS 360 software subscription fees.

If you’re already a CAS 360 client, follow the link below for instructions on how to get started with BGLiD!

Get Started!

If you’re not a CAS 360 client, but wish to implement BGLiD, talk to us or invest in CAS 360 to kickstart the process.

Contact Us!

Watch our webinar: Everything you need to know about BGLiD

November 3, 2023
Love0
Close Menu
Menu