Re-Verification

What triggers re-verification?

Re-verification means running an identity or account check again when something important changes, rather than trusting the result of a single check forever. The usual trigger is a change to bank details, but it can also be a new contact, a changed business name, or a shift in risk. The point is that trust attaches to the details that were verified, not to the supplier record in general. A concrete example: a supplier who was verified last year emails new account numbers. Instead of updating the record on the spot, re-verification confirms the new account genuinely belongs to that same supplier before any payment is redirected.

Why it matters for Australian finance teams

Bank detail change fraud and payment redirection scams rely on the gap between onboarding and payment. A supplier verified once can be silently swapped for a fraudster months later if a change request is accepted on trust. Re-verification removes that soft spot. It also mirrors the ongoing customer due diligence AML/CTF reporting entities are expected to perform under the regime AUSTRAC administers, where records must be kept current rather than checked once and forgotten.

How ezyshield helps

ezyshield confirms the person, the business via ABN and ASIC records, and bank account ownership before money moves, and any change to those verified details triggers re-verification instead of a silent update. Every check is written to an append-only audit trail, logged and never edited or deleted, so you can show what changed and when it was re-confirmed. See how it works and our guide to payment redirection fraud.