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Anti-money laundering procedures

 

In accordance with the Proceeds of Crime Act 2002 law firms are obliged to obtain certain information to establish the correct identity and address of clients. In certain circumstances we may be under an obligation to submit a report to the authorities if we have reason to suspect offences concerned with money laundering may have been committed or might be committed.

 

By accepting this Client Care and Terms of Business you accept that we are entitled to require you to produce appropriate evidence of your identity and address, that we may submit reports to the relevant authorities concerning your business and that we shall not be liable in any circumstance for any losses which you might incur as a consequence of any such steps which we might properly take in pursuance of our statutory obligations under anti-money laundering legislation.

 

In carrying out our statutory obligations we may incur certain expenses in order to verify the identity of a client to the satisfaction of the authorities, for example company search fees.

Acceptable identification documents

 

Acceptable evidence of personal identity includes:

  • Current valid passport with a UK residence permit if appropriate;

  • EU member state identity card;

  • Current EU or UK photocard driving licence; or

  • Armed Forces ID card.

Evidence of address can be determined by:

  • Confirmation from the electoral register;

  • Recent utility bill, bank statement or mortgage statement with the current address;

  • Local authority rates or council tax bill;

  • Current UK driving licence, but only if not used as evidence of personal identity; or

  • Local council rent card or tenancy agreement.

 

 

The type of information we may hold about you in order to complete all identity and anti-money laundering checks ifs listed below:

Personal details                                             Name, address, email, telephone numbers

 

Money laundering ID                                    Passport, driving licence, utility bills, NI number, bank statements

 

Bank details                                                  Name, bank name, account number, sort code

 

Financial details                                            Accounts, tax, assets, liabilities, mortgage offers

 

Contractual details                                       Details of services provided, contents of client file

 

Private client information                             Wills, family tree, LPA, estate beneficiaries

 

Pooled funds

The anti-money laundering guidance which UK banks and other finance services firms must adhere to is issued by the Joint Money Laundering Steering Group (JMLSG).

The JMLSG does not require banks to routinely identify the beneficial owners of law firm's pooled accounts as they do with most other accounts on the proviso that this information is available upon request.

 

In the event of our bank requesting information about the beneficial owners of our pooled client account you agree to us disclosing your details to them. If further information including verification documentation is required from you in order to identify the owners of funds held by us, you agree to provide it.

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