User Verification

To help fight the funding of terrorism and money laundering activities, AUSTRAC, the Government body, requires Precious Metals dealers to obtain, verify and record information that identifies each person/entity who opens an account. 

When you open your account, we will ask for your name, address, phone, and email address. When your account reaches the $5,000 transaction limit, we will ask for additional information to verify the identity of the account holder. We may also ask to see your driver’s license or other identifying documents. 

Jaggards reserves the right, in its sole discretion, to decline any account without any obligation to any person/entity, if in the sole opinion of Jaggards, insufficient information is provided by any such person/entity in order to properly identify such person/entity. 

Method of Verification

In compliance with the AUSTRAC regulations, we have a clearly defined program that complies with identity verification. Part of this program involves using a third-party verification partner—BronID—to verify individuals and entities.  The details requested at the time of verification will be cross-checked with government databases such as the DVS to provide instant verification results.

We receive information on the type of entity you are registering, such as individuals, private companies, public companies, unregulated trusts, SMSF’s, sole traders or partnerships. 

Based on the type of account you register, you will be required to provide identification documents in the form of primary non-photographic documents, primary photographic documents, and registration/identification documents for your entity structure. In some instances, enhanced due diligence may be required to verify your registration. We will request further information to confirm verification by designated service, if required.

Privacy

When you complete an online verification using this service, Jaggards adheres to its privacy policy and the information you enter is only used for the purpose of verifying your identity with the help of this service. Jaggards will not use your data to obtain information held by any other third party providers.

To learn more, please read clause 5 of our terms and conditions.