First AML becomes second AML compliance company to receive Privacy Trust Mark

First AML has become only the second AML compliance company to receive a Privacy Trust Mark.

Privacy Commissioner John Edwards lauded the company’s integration of strong privacy and security practices into its corporate culture.

“First AML conducts regular, detailed staff privacy and security training sessions and employs regular third-party audits that go above and beyond what is required by law,” he said.

The commissioner also recognised the company’s customer due diligence platform, which he said was easy to use and provided privacy policy explanations in layman’s terms.

“Fiercely guarding our customer's data is our top priority,” First AML said. “We prioritise embedding great privacy and security practices into our culture and strategy, by handling sensitive data with respect and ensuring our processes are best in class.”

The first AML compliance company to be awarded a Privacy Trust Mark was the Trust, Integrity and Compliance Company (TICC) last June. Edwards commended the company’s AML compliance portal.

Introduced in 2018, the Privacy Trust Mark highlights “privacy-friendly products or services that take a Privacy by Design approach,” the Office of the Privacy Commissioner said. According to Edwards, the objective of the award is to aid New Zealanders in making informed decisions about products and services in relation to their privacy-friendliness.

Not only does the award honour best practice, but it also aims to drive the development of a culture where companies value privacy.

First AML is one of only six Privacy Trust Mark recipients. Past awardees include Wellington company Paperkite for its contact tracing app Rippl, Air New Zealand for its Privacy Centre tool and the Department of Internal Affairs for its RealMe identity verification service.