New Client Verification of Identity (“VOI”)

Why is VOI important?

Verification of client Identity (“VOI”) is an increasingly important practice for law firms because:

• solicitors are often the gatekeepers to various digital systems (such as PEXA) rather than just lodgement agents. Checks which used to be completed when critical documents were signed or registered must now be done at the outset of a new client retainer/engagement;

• acting for clients in routine matters without ever meeting them is now commonplace, not an exception - and most clients expect to be able to conduct business online and remotely; and

• stringent anti-money laundering / terrorism financing programs within banks mean cyber-criminals will look to exploit weaknesses in other parts of the transaction chain.

Since lawyers must act in the best interests of their clients, it is important that we take reasonable steps to verify the identity of clients to ensure we are not falsely claiming authority to represent a party.

This is particularly critical when dealing with transactions involving property or funds.

Our VOI Process

Our firm will complete a one-off VOI process on all new clients. This can be completed either in person, at Australia Post, or (our recommend approach) via a secure digital platform.

The online-VOI process takes only a few minutes to complete.

For individual clients, the VOI is completed on the individual personally. For corporate clients, the VOI is completed on either a company director or the company secretary.

If you have any queries on completing this process, please do not hesitate to contact our office and one of our friendly team members will assist.