As part of our obligations under Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the AML/CFT Act), Jasper (like all fund managers) is required to collect and verify certain information about its investors. We use technology to do this as it's faster, easier and more secure for our investors.
Why do you do this?
We do this to help protect the integrity of New Zealand’s financial system, and because we are required to under the AML/CFT Act. If you’d like more information on why we are doing this, please refer to - https://www.keepourmoneyclean.govt.nz/.
The AML/CFT Act requires Jasper to perform customer due diligence (CDD). Practically, this means that we need to make sure we know who our investors are by collecting and verifying information about their identity (e.g. name, DOB, address).
What do you do with this information?
Jasper, like many financial institutions, uses electronic methods to verify a customer's identity information. When you sign up with Jasper, you’re asked to provide your identity details and the details of an identity document that confirm this. We then check this information electronically against government databases and other reliable sources.
Why do you use biometric technology?
Jasper uses biometric facial matching and fraud detection technology to meet our obligations under the AML/CFT Act. To do this, we securely link investors with their identity documents through liveness checks. We ask the investor to upload a selfie video and an image of their preferred identity document, i.e. Drivers license or Passport.
We use this to measure a number of things including:
How real and authentic the provided identification document appears to be;
How the person's face video matches the photo on the identification document; and
Likelihood that the person shown in the video appears to be a living human.
We believe this presents a strong defence against online identity fraud/theft.
What happens if I can’t do this?
If you’re having trouble with the technical side of things, or for whatever reason would prefer not to go through this process, then we have a range of options available and are happy to work through these with you on a case-by-case basis. Please reach out to us if you’d like to discuss these options.
What happens if I don't want to do this?
Jasper is required by law to take steps to verify the identity of all of our investors and their beneficial owners. If we can’t verify a person's identity then legally we cannot accept investment from that person.