Anti-Money Laundering Regulations

To combat money laundering and terrorist activities the law says financial services firms must check the identity of it’s clients and customers.

• What is money laundering?
• Why do I have to prove my identity?
• How do you check my identity?
• What sort of identity documentation may I be asked to provide?
• How can I protect my identity?

• What is money laundering?
• For crime to pay, criminal and terrorist organisations need to launder their profits (in other words, to make ‘dirty’ money – money obtained illegally – look ‘clean’). These organisations often use false identities or the identities of innocent people to take out financial products. They use these products to launder money because using false names makes it difficult to trace the money back to them.

• Why do I have to prove my identity?
• Proving your identity can help to fight financial crime such as money laundering and identity theft. It also makes it much harder for terrorists to move money anonymously.

• How do you check my identity?
• In most cases we will make an online verification using the details given on your application form. The company we use is called Experian, they are the United Kingdom’s premier reference agency and they are used by most of the major financial institutions in the UK. However, on some occasions the online check does not provide us with the required level of verification and we then have to request further documentation from you before we can process your business.

• What sort of identity documentation may I be asked to provide?
• Laid out below is a list of acceptable forms of identification that you can use to provide your identity. Please note, you must supply one item from section one and one item from section two.
• SECTION ONE. EVIDENCE OF IDENTITY - Please provide at least one.
• A copy of a valid signed passport or EEA Member State Identity Card. The copy must provide a record of the number, photograph and personal details on the passport.
• Resident Permit issued to EEA nationals by Home Office.
• Current UK/EEA Photo Driving licence or a blue disabled driver's pass. (1)
• Current full UK Driving Licence (old style). (1)
• Firearms or shotgun certificate.
• State Pension or Benefits Book/notification letter. (1)
• Sub-contractors Certificate (for s/e people in construction - tax exemption certificate with photograph - Cl S4 & CIS6).
• Inland Revenue tax notification (Tax assessment/Statement of Account/Notice of Coding). (4)
• SECTION TWO. EVIDENCE OF ADDRESS (5) - Please provide at least one.
• Solicitor letter confirming completion of house purchase or land registration. Previous address must be verified. (2)
• The most recent original Mortgage statement. (3)
• Current Local Authority Tax bill (valid for the current year).
• Local Authority rent card or tenancy agreement.
• Bank/building society/credit union statement or passbook (3)/House or Motor Insurance certificate.
• Utility Bill (not mobile phone). (3)
• Current UK/EEA Photo Driving Licence. (1)
• Current Full UK Driving Licence (old style). (1)
• State Pension or Benefits Book/notification letter. (1)
1. These items may be used to evidence address or identity but not both.
2. You must supply a certified copy of the search if you are relying on this as evidence of address.
3. Normally evidence will require to be recent (within previous 3 months) e.g. utility bill or mortgage statement.
4. The document must be issued by the Inland Revenue. A P45 or P60 issued by an employer is not acceptable for this purpose.
5. The previous address should also be verified if the individual has been at the current address for less than 3 months.
• N.B. Any copies that are sent to us must be certified, dated and signed as a true copy by either your bank, a solicitor, an accountant, a teacher, a doctor, a minister of religion or a postmaster. If the documents received are not correctly certified we are unable to accept them and they will be returned.
• Please contact us if you are unsure of the relevance of any identification you are submitting.

• How can I protect my identity?
• There are some simple steps you can take to help safeguard your personal details:
• Store any documents that show your personal details in a safe place.
• Shred or destroy any personal documents you don’t need.
• Check your bank and credit card statements regularly for any unusual transactions.
• Use different passwords any PINs for different accounts and take extra care when using public computers.
• Ensure your home computer is protected before you go online by buying a good anti-virus, firewall and anti-spam package.
• Do not click on links to go to a website unless you are confident that the site is genuine.
• If you have a communal postal delivery point, such as a block of flats, make sure you have a lockable postbox and collect your post as soon as possible.

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