Published Last updated Written and reviewed by the Resale Intelligence team
This document describes how the system actually works and is being reviewed by legal counsel. The wording may change before full launch.
On this page
Flagging transactions for AMLO reporting is not open yet; the duties of each business type must be confirmed first. The system sends no reports to AMLO for you.
Not available yet
This capability opens only after it passes the required review. This page explains what it is and what you can use in the meantime.
The anti-money-laundering (AML) part is a list of transactions the system flags so the store can check whether they may need reporting to the Anti-Money Laundering Office (AMLO) under set rules. It is not open yet.
What you can use today
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Recording and verifying customer identity, with document expiry dates. See Customer identity verification (KYC).
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Customer risk levels and blocking a customer from transactions. See Customer risk levels and blocking.
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The audit log of every important action. See Audit log: who did what, and when.
What is not open yet
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The list of transactions to review (AML) and the Review queue (AML) menu
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Automatic flagging of transactions against reporting thresholds
The system does not send any report to AMLO on the store's behalf.
Why it is not open yet
It must first be confirmed which reporting duties apply to each type of business using the system, in particular whether second-hand electronics shops are among the businesses that must report. That question is with legal counsel, and reporting thresholds will be entered as rules in the system only after review.
What to do meanwhile
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Verify the customer's identity every time you buy, and keep the documents complete.
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Ask your store's legal adviser whether your business must report to AMLO.